Trade Platinum Spot CFD

Platinum

Platinum is a shiny white metal that is used for a variety of different reasons around the world. Today, this rare precious metal is one of the most expensive commodities available in the market. For decades, platinum has attracted international investors keen to diversify their portfolio and hedge against any financial uncertainty.

As platinum is a precious metal, it is believed to be a safe-haven investment similar to gold. However, this is not always the case. The price of platinum relies heavily on the rules of supply and demand and thus, can be extremely volatile.

In times of economic turbulence, the platinum price tends to decrease in relation to gold, while during political stability and routine periods of market activity, it usually rises higher than the yellow metal. Although used as hedge by some and as jewellery for others, platinum’s value is closely correlated to the demand for its industrial usage.

While platinum is a precious metal, it is often used in a similar way to industrial metals, such as silver, copper or aluminium. The biggest market for platinum is the automotive industry, which currently accounts for up to 50 per cent of its total usage. The jewellery industry is the second-biggest consumer of the metal, using over 30 per cent of the platinum mined.

Other industrial applications of this precious metal include fuel cells, oxygen sensors, turbine engines, spark plugs, dentistry equipment, magnets and many more.

In times of weak economic performance, the demand for vehicles, heavy machinery and others powered by engines containing platinum decreases, so the platinum price consequently falls. Conversely, as industrial demand increases so does the metal’s price. Therefore, the platinum rate significantly relies on the wider performance of the global economy.

Its mining is primarily concentrated in one country – South Africa, which accounts for some three-quarters of the total production of the metal worldwide. Other major producers include Russia, Zimbabwe, the United States and Canada.

Trade Platinum Spot (Platinum) CFDs

Platinum Spot (ticker: Platinum) is a commodity market instrument that reflects the price of a specific raw material or natural resource. On Capital.com, it can be traded as a contract for difference (CFD) which lets you speculate on price changes without taking ownership of the physical asset. This means you can go long or short depending on how you think the market will move.*

Many traders follow the Platinum Spot price today to stay alert to short-term shifts in market sentiment.

*CFDs are traded on margin. Leverage amplifies both profits and losses.

Platinum Spot price today

The instrument is quoted in $ and is currently trading around 2280.70.

Live price overview

Below is an overview of the current Platinum Spot price and its recent trading ranges.

• Daily range: 2242 – 2467.53
• Daily movement: -135.5 (-5.5694%)
• Weekly range: 1922.98 – 2453.85
• Monthly range: 1626.75 – 2470.85
• Yearly range: 906.5 – 2470.85

Why trade commodity CFDs on the price of Platinum Spot with Capital.com?

Capital.com provides tools and features designed to support informed decision-making when analysing live market prices.

Advanced charting and analysis

Use interactive tools to study the Platinum Spot price chart in detail.

• Access 100 technical indicators
• Choose from 12 chart types
• Analyse fast, interactive charting tools

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What influences the price of Platinum Spot?

The Platinum Spot (Platinum) price may be influenced by several market factors, including:

• Supply and demand dynamics
• Global economic conditions
• Geopolitical events affecting production or transport
• Seasonal trends
• Market sentiment and risk appetite
• Currency fluctuations

These factors can interact in complex ways, contributing to both short-term movements and longer-term trends.

Platinum Spot price forecasts

Platinum Spot price forecasts commonly reference recent news, company updates, and broader economic factors rather than fixed price targets. You can use a combination of technical analysis and fundamental insights to form a view of potential future price movements. However, analyst forecasts are often inaccurate and past performance is not a reliable indicator of future results.

Instead of relying on a single outlook, some traders monitor ongoing analysis and real-time data to respond to changing market conditions.

How to trade Platinum Spot commodity CFDs

With CFDs, you can trade without owning the underlying physical commodity:

• Go long (buy) if you expect prices to rise
• Go short (sell) if you expect prices to fall

Leverage allows increased exposure but also magnifies losses.

Risks of trading commodity CFDs

Key risks include:

• High market volatility
• Leverage amplifying both losses and gains
• Funding costs for holding positions overnight
• No ownership of the underlying commodity