Buy and sell XPTUSD (Platinum) with FXPro

Platinum, one of the top three most valuable precious metals, is traded 24 hours a day on the global commodity markets. During periods of political stability, the price of platinum tends to be higher than gold, as the annual amount of platinum mined is significantly less than gold and the cost of mining per ounce doubles.

Platinum is also considered an industrial metal and is used in the manufacture of automotive catalysts to reduce harmful emissions, so its price is primarily determined by auto-selling and auto-manufacturing. Jewelry manufacturing is platinum’s second-largest market, followed by the petroleum, chemical refining catalysts and computer industries.

Since platinum is mainly mined in South Africa and Russia, this metal is vulnerable to cartel manipulation, may support prices and have an artificial rise. Platinum is one of the most volatile precious metals.

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Why people invest in XPTUSD (Platinum)?

Investors trade platinum to diversify their portfolios and hedge against currency weaknesses (such as the devaluation of the dollar) and stock market volatility. Platinum and other precious metals are also considered safe havens because they can maintain their value during times of global unrest and high inflation.

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Why the price of XPTUSD (Platinum) changes?

Factors that may affect the price of platinum include industrial use, interest rates, inflation, macroeconomic trends, movements of major indices such as Dow Jones, monetary and fiscal policies, social stability or insecurity, and diplomatic relations.

Precious metals are traded in multiple time zones in multiple foreign exchange markets around the world. Platinum spot prices are calculated based on the most active near-month futures contracts with the highest trading volumes.

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