Current prices
- As of September 20, 2024, gold was trading at about $2,401 per ounce, while platinum was trading at about $964 per ounce.
Factors affecting price
- Geopolitical events: These can impact the price of both metals.
- Supply and demand: The price of both metals is affected by supply and demand, which can change based on the economy.
- Industrial demand: Platinum's industrial uses, such as in catalytic converters, increase its demand and raise its price.
Historical trends
- Platinum has historically been more expensive than gold because it's rarer and has more industrial uses.
- The ratio of platinum to gold has fluctuated over time. For example, the ratio was consistently above 1 before 2011, meaning platinum was always worth more than gold.
Investing considerations
When deciding whether to invest in platinum or gold, you can consider the current price, but also market volatility and economic indicators. You can also track the ratio of platinum to gold to look for potential opportunities.
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