Posted 01 Jan 2005
The platinum price can vary widely in the spot platinum market. The platinum price is shown below in troy ounces. 1 troy ounce = 31.1034768 grams. I recommended buying platinum at $1,118 and am extremely fond of the precious metal. The 200DMA is the 200 day moving average. The Relative number is the current price divided by the 200DMA. This shows whether the metals are cheap, average value, expensive or really expensive. The goal is to buy low and sell high.
RunToGold.com platinum prices are provided by a data feed from GoldMoney. For third-party storage we recommend GoldMoney and for physical possession we recommend GoldSilver because of the great prices and A BBB rating.
The platinum price is sometimes referred to as world platinum price, New York platinum price, London Metal Exchange platinum price, spot platinum price, market platinum price and platinum bullion price. These platinum prices are indications of the current trading platinum prices for one troy ounce of platinum on world platinum exchanges.
The platinum price used in the platinum price charts on Run To Gold are the 24 hour Spot Platinum Bid Price which are discovered in New York, London, Hong Kong and Sydney. These platinum prices are quoted in Federal Reserve Note dollars (FRN$). Throughout the world the platinum prices are often displayed in currencies other than the FRN$ and are converted into the local currency.
Like all platinum prices, the current platinum price reflects the inherent value of platinum and the relative strength of the underlying fiat currency. For example, the FRN$ price of platinum may increase more in percentage terms than platinum priced in Euros. The reason would be that the change in platinum prices is a reflection of FRN$ weakness against the Euro and would not be the result of the change in the intrinsic value of platinum based on the platinum market fundamentals.
Run To Gold platinum price charts are updated every 1 minute for both the live platinum price charts and the moving averages. The 50 day and 200 day moving average platinum prices are the sum of the average platinum prices for the most recent 50 or 200 trading days.
The monetary metals of gold, silver and platinum are a great way to store wealth and can be used to perform accurate metal calculations of value using tools like the Numeraire spreadsheet. Now is a great time to buy platinum.