FxPro provides an opportunity to trade CFDs on Platinum.
Unlike gold, which is mined in its purest form, Platinum exists only in the form of alloys with other metals, as the process of extraction and separation is quite complicated and energy-intensive. Due to it, the world annual production is approximately 5 million troy ounces. For comparison, annual gold production is 17 times more, and silver is 100 times more.
Platinum has specific properties that make this metal in demand in many industrial fields. However, about 40% of this metal is used in automobile production.
Speaking about Platinum trading, the main factor affecting the exchange value is the balance of supply and demand. Platinum supply is quite limited, so its volume, as well as the level of demand, have a direct impact on cost. For example, an increase in the automotive industry may mean an increase in demand.
It is worth paying attention to the inverse correlation with gold. Another important factor is the news and reporting of global platinum producers. This could be a change of company management or a strike at the Anglo American Platinum, Lonmin and Impala Platinum mines in South Africa. That will allow you to draw up a responsible trading plan.
An in-deep analysis of the whole economic picture will enable the trader to make a responsible forecast of the price.
You can trade Platinum on MT4, MT5, cTrader and FxPro Trading mobile platform (inside the FxPro Direct App).
Scroll through the chart above and discover actual Bid and Ask prices of CFD on Platinum on the global market, as well as the historical performance and volatility of this asset. This information can be used to make informed trading decisions.
Platinum trading with FxPro starts from simple registration. Just click the “Register” button at the top of this page and follow the prompts. Then, you will have an ability to fund your new account: several convenient online methods with 0% commissions are available.
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