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Platinum definition
Platinum is a rare precious metal valued for its resistance to corrosion and its heavy use in industry, particularly in vehicle catalytic converters. It trades in US dollars per troy ounce across spot, futures, and CFD markets.
Platinum's price leans heavily on industrial demand, especially from carmakers, alongside investment interest and mine supply concentrated in only a few countries. Because that supply is narrow and demand swings with the auto sector, the price can move sharply on production or policy news.
Its closest cousin is palladium, the other main metal used in catalytic converters. The two are partial substitutes, so when one becomes too expensive manufacturers may switch toward the other, which links their prices even though each has its own supply and demand balance.
Platinum Example
You expect platinum to rise as carmakers increase production, so you open a long position priced in US dollars per troy ounce.
If platinum climbs from USD 950 to USD 1,000 per troy ounce, the move in your favour is: 1,000 - 950 = USD 50 per troy ounce
If it falls instead, the position loses value. These prices are illustrative.
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