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Platinum and platinum group metals are produced in Zimbabwe and South Africa. Of the multitudes of companies involved in producing platinum group metals in these two countries, these are the principal operators: [ citation needed ]
Platinum is traded in the spot market with the code "XPT". When settled in United States dollars, the code is "XPTUSD". As the cost of platinum per ounce fell, the cost per ounce for other metals in the platinum group - especially palladium - rose strongly. As of November 2022, palladium sits at around US$1900 per ounce, compared to US$980 for ...
South Africa is home to 80% of the world's known platinum reserves, and produces about 70% of the world's supply. [1] [2] Platinum prices have been flat since 2009 or so, due to weak demand for catalytic converters, the primary use of platinum in industry. [3] [4] Meanwhile, other costs have risen, putting pressure on the mining industry. [4]
If you’re thinking of shelling out any of your hard-earned dollars for some of these expensive items, realize that their prices can fluctuate. Platinum, Gold and More of the Most Valuable ...
South Africa produces more platinum and similar metals than any other nation. [22] In 2005, 78% of the world's platinum was produced in South Africa, along with 39% of the world's palladium. Over 163,000 kilograms (5,200,000 ozt) of platinum was produced in 2010, generating export revenues of US$3.82 billion. [24]
Costco is expanding its precious metals offerings, building on top of its rollout last year of gold bars, which often sold out within hours.The retailer is now adding 1-ounce platinum bars to its ...
The retail giant now offers 1-ounce platinum bars for $1,089.99 exclusively to members via its website. ... so Costco’s $1,089.99 price tag reflects a small markup. ... The best under-$50 ...
In 2010, South Africa was the top producer of platinum, with an almost 77% share, followed by Russia at 13%; world production in 2010 was 192,000 kg (423,000 lb). [35] Large platinum deposits are present in the state of Tamil Nadu, India. [36] Platinum exists in higher abundances on the Moon and in meteorites.