What Is The Price Of Platinum?

The Price Of Platinum Continues To Climb

After hitting an all-time high of $2,301.50 in March of 2008, the price of platinum nosedived to $744.25 in the fourth quarter of 2008.  It has been steadily climbing ever since.  The price of platinum was $1,413 in late-December 2009.  Will platinum prices continue to climb?  That is what speculators are predicting.  Those buying and selling platinum futures are betting on it.  Futures to be delivered in January are selling at over $1,450 per ounce.  As is often the case, many are buying platinum as leverage against inflation.

The Price Of Platinum Is Volatile

As with any precious metal selling on the commodities market, the price of platinum is volatile.  The price of precious metals typically takes an upturn when the value of the dollar goes down.  As the value of the dollar declines, so will the value of platinum increase.  Another factor relative to the price of platinum is the price for which each dealer might sell the precious metal.  Each dealer may have a different commission or spread.  In order to obtain the best deal for a platinum investment, obtain information from several dealers.

If you’re located near a major U.S. metropolitan area, you may be able to find experienced and knowledge dealers locally.  Make sure you also inquire of dealers on the Internet.  Ask each dealer how long they have been in business, how much inventory and what type of inventory each of them keeps on hand, if they are members of the Better Business Bureau and if they have any industry accreditations.  Also, ask how much the platinum is going to cost you, including their commission or spread.  Buy your platinum from a dealer who has been in business over 10 years, has a broad inventory, is a member of the Better Business Bureau, has other industry accreditations, like the Professional Numismatists’ Guild (PNG) and who sells platinum for the lowest price.

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