Platinum Price in Australian Dollars Today

Yes, investment-grade platinum with a purity of 99% or higher is exempt from GST in Australia under the same provisions that cover investment gold and silver. This applies to platinum bars and coins that meet the purity threshold, including products from the Perth Mint and other recognized refiners. The GST exemption makes physical platinum more accessible for Australian investors compared to countries like the UK where 20% VAT applies. However, any premiums charged by dealers above the spot price are still part of the purchase cost.

Yes, the Perth Mint is one of Australia's primary sources for platinum bullion products. They produce platinum coins such as the Platinum Platypus and have historically offered various commemorative platinum issues. The Perth Mint also sells platinum bars in various sizes and offers a certificate program where investors can hold platinum in allocated or unallocated storage at the Mint's facilities in Western Australia. Their products carry the Perth Mint's hallmark and are recognized internationally for quality and purity.

The Australian dollar is classified as a commodity currency, meaning it tends to rise and fall with global commodity prices. When commodity markets are strong, both platinum and the AUD often rise together, which can dampen platinum's gains in AUD terms. Conversely, during commodity downturns, a falling AUD can partially offset platinum price declines for Australian investors. This correlation means the AUD platinum price can be less volatile than the USD price, though the relationship is not perfect since platinum demand is driven by factors distinct from Australia's primary commodity exports like iron ore and coal.

Yes, self-managed superannuation funds (SMSFs) in Australia can hold physical platinum as an investment, provided certain conditions are met. The platinum must be stored with an approved depository or custodian -- it cannot be kept at home or in a personal safe. The investment must be consistent with the fund's investment strategy and comply with the sole purpose test. Alternatively, SMSFs can gain platinum exposure through listed ETFs or managed funds that track platinum prices, which avoids the complexity of physical storage requirements.