Historical Platinum Spots

Platinum Overview

Platinum is also a precious metal. It is available in coins, bars, and ingots. Platinum finds use in jewelry, usually as a 90-95% alloy, due to its inertness and shine. In watchmaking, many companies use platinum for producing their limited edition watch series. Watchmakers highly appreciate the unique properties of platinum as it neither tarnishes nor wears out. The price of platinum, like other industrial commodities, is more volatile than that of gold. In recent year the price of platinum ranged from $774 to $2,252 per oz.

Why Invest in Platinum

Platinum has unique chemical and physical properties that make it essential in a wide range of industrial and environmental applications. And yet, it is also considered one of the finest of all jewelry metal. Over 20% of all consumer goods either contain platinum, or use it as an integral part of their production.

Platinum is the most rare of the precious metals. Roughly 90% of all platinum supplies come from South Africa and Russia. Virtually all of the platinum mined in South Africa is pre-sold to industrial users. Approximately 8 tons of raw ore must be mined to produce just one pure ounce of platinum. Today, the finest and most elegant jewelry contains platinum. Investment platinum is available in the form of bullion products that are produced using platinum. As a consequence, the continued expansion of advanced and developing economies has caused demand for the metal to grow at a faster pace than it is being mined.

Platinum bullion coins are a popular and convenient way to make an investment in platinum. The coins are easy to buy, easy to hold and store, easy to divide, widely recognized and thus, easy to sell and trade.

10 Platinum Facts

  1. Platinum works better than palladium for diesel vehicle pollution control.
  2. Recent advances in Selective Catalytic Reduction reduces platinum/palladium use in vehicles.
  3. Jewelry marketshare for platinum is improving noticeably in Asia and with younger generations.
  4. During the recent bullish metals cycle, platinum outpaced gold, reaching over $2,200 per ounce.
  5. A one-ounce pure platinum coin is smaller in size than a one-ounce pure gold coin.
  6. South Africa mine production fell during most of the past decade, and is projected to decline further.
  7. Although not as malleable as gold, platinum is more ductile and can be better stretched into wire.
  8. Replacement supply versus fabrication demand has been generally seeing a surplus.
  9. About 70% of the worlds mining supply comes from economically unstable South Africa.
  10. Compounds containing platinum are used in cancer treatment, referred to as “Platinum Chemo.”

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