Platinum is traded on the New York Mercantile Exchange (NYMEX) or the London Platinum and Palladium Market. The platinum Exchange Traded Funds follow the prices traded on those markets. Platinum is counted among the rarest metals on our planet but it is used in many different branches e.g. watchmaking, electrodes, medical instruments, magnets etc. Price of this metal is very often dependent on the state of the economy – prosperity lifts the prices up, while recessions tend to bring the prices lower. Most of the platinum comes from South America.