Metals » Platinum Futures

Our user-friendly trading platform and exceptional customer service make it easy and convenient to add the prestige of platinum futures to your portfolio. Open an account to trade futures at optionsXpress.

Symbol
PL
Exchange
NYMEX
Contract Size
50 Troy Ounces
Tick Size
0.10 = $5.00

About NYMEX Platinum Futures

Platinum is the principal metal of the six-metal group that bears its name; the other platinum group metals are palladium, rhodium, ruthenium, osmium, and iridium. All possess unique chemical and physical qualities that make them vital industrial materials.

Jewelry creates the largest demand for platinum, accounting for 51%. Automotive catalysts take 29% and chemical and petroleum refining catalysts, 13%. Platinum is also used in the computer industry and in other high-tech electronic applications since it is an excellent conductor of electricity, does not corrode, and has a low reactivity with other metals. This sector accounts for about 7% of consumption.

Platinum is among the world's scarcest metals; new mine production totals approximately only 5 million troy ounces a year. In contrast, gold mine production runs approximately 82 million ounces a year, and silver production is approximately 547 million ounces. Supplies of platinum are concentrated in South Africa, which accounts for approximately 80% of supply; Russia, 11%; and North America, 6%.

Because of the metal's importance as an industrial material, its relatively low production, and concentration among a few suppliers, platinum prices can be volatile. For this reason, it is often considered attractive to investors and speculators who are pursuing a profitable return on investment.

optionsXpress clients have the ability to trade platinum futures at the New York Mercantile Exchange. Trading in platinum futures may provide individual investors with an opportunity to profit from changes in platinum prices. In addition, a broad cross-section of companies - from platinum mining operations to end users - may use platinum futures to protect themselves against adverse price changes.

COMEX Platinum Futures Specifications

Platinum futures, New York Mercantile Exchange, symbol PL. Minimum Tick Size: $0.10 per ounce, worth $5.00 per contract.

Electronic trading is conducted from 6:00 PM US until 5:15 PM US EST via the CME Globex® trading platform, Sunday through Friday.

There are platinum futures contracts with expirations all twelve months of the year, but the primary months are January, April, July, and October.

Please see the disclosures page for additional information regarding this section.