(Trading symbol PL) The most well-known of a group of six metals that bears its name and the rarest of the three primary precious metals (gold, silver and platinum). Jewelry and Bullion accounts for the bulk of its demand, but all six metals in the platinum group possess conductive and catalytic properties that make them suitable for specialized applications in the automotive, chemical, Petroleum, and computer industries. On the NYMEX, a platinum contract unit equals 50 troy ounces. Platinum contracts move in minimum increments of $.10 per troy ounce, or $5 per contract. Except for the contract month, which has no maximum price fluctuation, the exchange will call a trading halt on platinum if the price fluctuates more $50 per ounce ($2,500 per contract) above or below the previous day's close.
Browse by Subjects
New York Mercantile Exchange (NYMEX)
See All Related Terms »
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):