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Platinum trading

Trading commodities and precious metals like platinum is a popular way to diversify a portfolio. Here's your tutorial for trading the platinum market.

Why trade platinum?

Diversification

Seasoned traders mitigate risk by diversifying their portfolios. Trading in precious metals like platinum is a sensible way to make sure your portfolio is exposed to multiple sources of risk.

Hedging against inflation

Commodities' values are not affected by the same factors as currencies, so they can often hold value while currency values are falling.

Volatility

Platinum exhibitis particular volatility, and intelligent traders can exploit this. 

What affects the price of platinum?

 

Jewellery 

The jewellery market accounts for a large part the world’s consumption of platinum. Hgh demand combined with its scarce supply is why platinum is more expensive than gold.
 

Cars

Platinum is critical to making catalytic converters, so any downturn in the automotive industry has direct impact on demand.
 

Investment demand

This is not a large driver of platinum’s price, but a weak US dollar or high gold price can lead investors to choose platinum.
 

Bottleneck

Most of the world’s platinum is mined in South Africa and Russia, meaning that it is vulnerable to political and economic disruption in these countries.

Platinum market trading tips

Trading platinum in practice 

Your analysis leads you to conclude the price of gold will appreciate.

You buy 1 contract platinum at the price of 987.06.  One lot equals $100 for every $1 movement in the price of gold.

Winning scenario

Demand for platinum spikes and a couple of days later the price is $993.06. You decide to sell and lock your winnings. Your profit is calculated as follows: (993.06 – 987.06) x $100 = $600.

Losing scenario

The price of platinum does not move your way and after some time has passed it is at $982.06 . You decide to close the position and cut your losses. The loss in this case is: (987.06 - 982.06) x  $100 = $500.

Practice trading metals with £50,000 virtual funds
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