Many individuals have heard of the platinum spot price, but they may not know what this is or how this pricing type works. Market price and spot price are different. Platinum currently has a market price that is around $1,520 per ounce. The spot price for this metal is higher, and is the price that investors pay to purchase an ounce of platinum. The precious metal dealer who sells the bullion will charge a commission for the sale, and this is added to the market price to create the spot price.
Platinum is a precious metal that is valued similar to gold. Many investors choose precious metals because these investments tend to do very well in poor economic times, and they can offer a fantastic return in many cases. The spot price of the metal must be considered though, because the additional amount paid over the market price will reflect the final return that the investor receives off of the investment.
The platinum spot price will change as the market price rises and falls. This price will also vary depending on the dealer that is used. Some dealers may have higher mark ups for the same platinum product, and this represents higher investment costs. Carefully evaluating potential dealers and comparing the differences in the prices charged can help investors find the lowest cost options for buying platinum in any amount.
New investors often confuse the market and spot prices of the precious metals, and this can be a costly mistake. It is possible to lower the dealer costs when buying platinum by buying larger quantities of bullion all at once. Many dealers offer a discounted price if a certain weight or quantity is purchased and this allows investors to get the lowest possible prices on the metal.
The platinum spot price reflects the underlying market price, and also includes additional costs that must be paid to purchase platinum. The spot price does not include any storage or security fees, and often investors will also have to pay for transport and delivery fees as well. All of these factors should be considered when determining if platinum is the right investment choice in any situation.