![]() ![]() ![]() Since platinum is so rare, this may not be a problem. It is also not feasible to move very much platinum. Although you would not need a large storage facility, you would need one that could withstand the weight. A 6-inch cube of platinum weighs as much as an average size person. Since platinum is one of the heaviest metals, buying a quantity of bullion for delivery is simply not reasonable for most investors. Platinum coins and bars are sold by several manufacturers. Platinum is even used in medications to treat cancer and has applications for Parkinson’s Disease. A platinum alloy is used to coat computer hard drives. ![]() There is a market for it in medicine in the manufacture of stents and pacemakers. Platinum is very desirable in fine jewelry, especially in India and China. This is because platinum is used in hydrogen fuel cell technology often called “green hydrogen.” The use of platinum is increasing in the Asia-Pacific automotive market since so many consumers do not own automobiles but may in growing economies in the future. since the movement toward hybrid and electric vehicles, even though they do not require catalytic converters. Platinum use in automobiles is increasing in the U.S. It is used in fuel cells and electric power generation since it is conductible. It is used in making catalytic converters as pollution control devices for automobiles. Platinum has more industrial and manufacturing applications than does either gold or silver. Between 50% and 60% of the world’s production of platinum and palladium is used in the automotive industry. Even though platinum is usually, but not always, more valuable than gold, much more gold has been mined than platinum. Platinum ore is 30 times rarer than gold, and a platinum investment may be subject to more price volatility than gold or silver. Platinum belongs to a group of precious metals that also include palladium, iridium, ruthenium and osmium. If you want to include platinum or any of the precious metals in your portfolio, it may be wise to speak with a financial advisor and keep up with the platinum market. As an investment, platinum may be useful in a variety of ways, including hedging and speculating. It also has a future in the renewable energy market. As the global economy rebounds from the pandemic, platinum’s price is likely to rebound since it is used in manufacturing. Platinum, a precious metal, is used in the industrial and manufacturing markets, particularly in vehicle pollution control devices. ![]()
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