Live platinum price in GBP
Discover the current platinum price in GBP with our live price chart. Adjust the time range, weight, and currency to closely track the trends in the platinum price in different currencies.
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Performance of the price of platinum in the past 24h in GBP (per gram)
Last update: Jul 27, 2024, 7:53 AM
| 1 h | 6 hours | 12 hours | 16 hours | 20 hours | 1 day |
|---|---|---|---|---|---|
+0% | +0% | -0.87% | -0.69% | -0.91% | -1.44% |
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Platinum price today by weight and carats in British Pound (GBP)
The value of platinum fluctuates due to a variety of economic factors affecting its demand. Prices can be quoted in different weights. Here, we provide the latest platinum price in the GBP.
Last update: Jul 27, 2024, 7:53 AM
| Weight | Current Price | Day Min | Day Max | Day Average | Daily Performance |
|---|---|---|---|---|---|
Gram | 29.82 | 29.82 | 30.27 | 29.97 | -1.45% |
Kilo | 29818.83 | 29818.83 | 30266.37 | 29971.86 | -1.45% |
Ounce | 927.47 | 927.47 | 941.39 | 932.23 | -1.45% |
Ton | 29818830.68 | 29818830.68 | 30266368.74 | 29971857.85 | -1.45% |
The historical performance of the platinum price in GBP (per gram)
Our detailed platinum price chart tracks the historical fluctuations in prices within the UK market.
Last update: Jul 27, 2024, 7:53 AM
| 1 day | 1 week | 1 month | 6 months | 1 year | 5 years | 10 years | 20 years |
|---|---|---|---|---|---|---|---|
-1.44% | -2.89% | -8.66% | +2.48% | -4.14% | +8.82% | -37.59% | +18.45% |
Platinum prices today by currency (per gram)
The price of platinum varies depending on whether you're looking at it in euros, US dollars, Swiss francs, or British pounds. This table allows you to track the platinum prices in each currency, as well as their daily performance.
Last update: Jul 27, 2024, 7:53 AM
| Currencies | Current Price | Day Min | Day Max | Day Average | Daily Performance |
|---|---|---|---|---|---|
27.46 | 27.46 | 27.87 | 27.6 | -1.43% | |
26.35 | 26.32 | 26.71 | 26.47 | -1.15% | |
29.82 | 29.82 | 30.27 | 29.97 | -1.45% | |
GBP | 23.17 | 23.17 | 23.52 | 23.29 | -1.48% |
AUD | 45.48 | 45.43 | 46.1 | 45.68 | -1.15% |
CAD | 41.22 | 41.18 | 41.79 | 41.41 | -1.15% |
CNY | 216.29 | 216.07 | 219.26 | 217.26 | -1.15% |
INR | 2498 | 2495.38 | 2532.23 | 2509.16 | -1.15% |
JPY | 4609.87 | 4605.03 | 4673.03 | 4630.45 | -1.15% |
Why buy platinum?
Because of its diverse industrial demand and growing popularity as an investment, platinum can help you diversify your investment portfolio and reduce your exposure to economic volatility.
What is platinum used for?
Platinum has diverse applications, ranging from the automotive sector and jewelry, to dental fillings and cancer treatment drugs.
It can also be a traditional gift for 70th anniversaries or birthdays. For instance, in 2022, the late Queen Elizabeth II celebrated her Platinum Jubilee, becoming the first monarch in British history to spend 70 years on the throne.
Trends in the platinum price in GBP
As you can see in the graph above, there has been a strong upward trend in the price of platinum in GBP since 1990, despite its high volatility. As we mentioned earlier, platinum can be interpreted as a safe haven during volatility.
- An example of this is when the price of platinum in GBP reached its record high in 2010.
- Back then, the UK was experiencing a great deal of economic volatility, having just emerged from the late 2000s recession.
- The UK economy experienced sluggish economic growth in 2010 and fell into another less-severe recession from 2011 to 2012.
What other economic indicators impact the platinum price in the UK?
The price of platinum is subject to global supply and demand, market trends, and macroeconomic factors. In the UK, the platinum price in GBP is influenced by these global dynamics and exchange rates (forex), especially the strength of the USD.
- Because platinum, like precious metals, is normally priced in USD, fluctuations in the GBP-USD exchange rate have a direct and significant impact on the cost of platinum in GBP.
- The automotive sector also influences the demand for platinum, thanks to its widespread use in catalytic converters.
- However, demand from the electronics and healthcare sectors also contribute to its price and industrial demand.
When GBP strengthens against USD, platinum becomes cheaper for UK investors, boosting demand here and in any other currencies that strengthen against USD. However, if the USD strengthens, the platinum price in GBP becomes less affordable, which can reduce local demand.
Where does platinum come from?
South Africa is the major producer of platinum, followed by Russia and Zimbabwe. Therefore, any disruptions to the supply of platinum from these countries, especially South Africa, is likely to have a marked impact on the cost of platinum in GBP and around the world.
- Much of the world’s platinum trading occurs on the historic London bullion market, which is represented by the LBMA (London Bullion Markets Association).
- Heavily regulated by the Bank of England, the London bullion market conducts most of the world's gold and silver trading, via OTC (over-the-counter) trading.
What else affects the platinum price in GBP?
Besides currency exchange rates, other macroeconomic factors impacting the price of platinum in GBP include: inflation data, US interest rates, geopolitical events, and other global economic developments. In the UK market, local economic indicators also affect the strength of the GBP, which directly impacts the affordability of platinum for investors in the UK.
Should you diversify your investment portfolio with platinum?
Adding platinum to your investment portfolio can help you reduce your exposure to market volatility, especially sudden downward price movements impacting a specific region, sector, or asset class such as stocks.
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Frequently asked questions
Read the most frequently asked questions from savers and investors on GOLD AVENUE and on how to buy gold, silver, and precious metals.
How much is 1 gram of platinum worth?
Internationally, the platinum price, which is set by the LBMA London (London Bullion Market Association) or the LME , has a significant influence on the value of fine platinum. Auctions for both platinum and palladium take place twice daily, once in the morning from 9:45 a.m. and once in the afternoon from 2:00 p.m. (London time). Once the platinum price is determined, the palladium auction begins.
It is important to note that the price of platinum is quoted in US dollars per troy ounce. To determine the GBP platinum price for 1 gram, the weight as well as the dollar to pound exchange rate must be taken into account. With GOLD AVENUE this conversion takes place automatically.
How much does 1 gram of platinum cost?
The cost of 1 gram of platinum can vary depending on the provider. The metal value of fine platinum is determined daily in an independent auction, but vendors typically sell platinum at a percentage premium over the pure metal value. At GOLD AVENUE we offer a diverse selection of high quality platinum products.
How do you calculate the value of 1 gram of platinum?
At the international level, the metal value of platinum is expressed in US dollars per troy ounce, which means that the different weight and exchange rate must be taken into account when converting.
Does the price of platinum change?
The price of platinum is actually subject to regular fluctuations and is determined daily in an independent auction by the LBMA (London Bullion Market Association). Therefore, it is advisable for investors to continuously follow the news and keep an eye on the current platinum price.
