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Platinum Spot Price per Kilo USD

This chart shows the platinum spot price per kilo, in USD. You can also view the platinum spot price in EUR, AUD and USD. 

 

Platinum spot price

The platinum spot price is usually quoted in USD per ounce however our charts are useful if you would like to see the platinum spot price in another weight or currency. 

The platinum spot price is affected by both the demand and supply for the precious metal. It can be very interesting to follow the platinum spot price as the metal is extremely rare and yet necessary to so many vital applications. 

Here are just some of our favorite uses for platinum:

  • The most well known use for platinum is in catalytic converters. Any changes in the automotive industry will likely have an impact on the platinum spot price as around half of platinum supply is used for catalytic converters. The converters are responsible for turning the toxic gasses produced by car engines into less toxic emissions. 
  • Platinum is also part of some incredible treatments used in the healthcare industry; pacemakers, dental crowns and neuromodulation devices. Its resistance to corrosion from bodily fluids makes it an ideal material. 
  • When you are watching the platinum spot price, you are also watching an aspect of the drugs market as platinum is used in some anti-cancer treatments. Drugs like cisplatin contain platinum compounds. 
  • The world’s path to decarbonisation is a long one but steps are underway to get us there. Green hydrogen is key to this goal and so, therefore, is platinum as it is used in both electrolysers to produce green hydrogen and in hydrogen fuel cells. 

Automotive and industry are just two of the key areas of demand that drive the platinum spot price. Jewelry and investment demand are also key:

  • Around 30% of mined platinum is used for jewelry. Some of the world’s most famous pieces are set in platinum including Grace Kelly’s engagement ring, much of Queen Elizabeth II’s tiara and brooch collection and the famous Satine necklace in Moulin Rouge. 
  • Investment into platinum bars and coins is expected to climb by 21% in 2022 as investors watch the platinum spot price and decide that now is a good time to buy platinum. 

Looking to buy gold or buy silver in US? If you have any questions, please contact us by live chat, email, or phone.

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