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Rising Price Trends and the Price of Platinum per Ounce Today
The industrial uses of platinum are gradually rising today, leading to its becoming a modern commodity. This has lead to a substantial rise in the price of platinum per ounce today, with it being used in dental, neurosurgical equipment, cancer treatment medicines and also in other varied fields such as computer parts. Out of every five products manufactured these days, at least one of them uses or contains platinum. The automobile industry is renowned for its use in eliminating toxic emissions and rendering them safe by conversion into carbon dioxide and water. One third of the mined platinum is used in this sector.
You can notice the price of platinum history showing an upward swing, and it is rightly known as the environmental metal. The number of uses is constantly rising combined with a limited supply. The scarcity can be attributed to the problems in production and mining of platinum. This is seen by the fact that platinum mining constitutes only 5 percent of the amount of mined gold, each year.
The scarcity is further noted by the fact that if you were to fill a room with the total amount of platinum mined throughout, then it would barely fill one measuring about 25 feet per side. This is responsible for the increasing price of platinum per ounce today, along with the problems of refining it. Platinum has to be refined from its combination with other metals and the process can take many months for extracting it.
It is easy to follow the price of platinum history and know the trends with respect to the average in a month or even the daily prices. You can watch the prices over several years, and this will provide a good base for investors to make right decisions. The price trends are provided by graphs showing the trends of 5 or 10 years and even for the previous six months or so, which are easy to understand.
One of the popular forms of platinum investment is by purchasing the metal in physical form, after you have checked out the price of platinum per ounce today. A small investment of $100 and sometimes even lesser amounts can fetch you a good investment.
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References:
http://www.precious-metal.net/palladium/palladium-dealers/ http://ounceofgold.net/how-much-is-one-ounce-of-gold-worth/