Platinum - The Most Precious of the Precious Metals
Of all the precious metals, the rarest and most valuable one is platinum.
It is extremely rare, approximately 30 times rarer than gold, and the price per oz.
is higher than that of gold.
This precious metal has the ISO currency code XPT.
How is platinum mined? It is collected as a by-product of nickel and copper mining.
90% of the its supply is mined in South Africa and Russia.
Around 8 tonnes of ore must be mined to produce just a single ounce of the pure metal.
What are the uses of platinum? It is used in a very wide variety of applications.
In fact, more than twenty percent of all consumer products contain or are produced using it in some capacity.
More than fifty percent of all supply sold is used in automobile emission control systems in cars.
These are devices that limit the amount of pollution from vehicle emissions.
It is also an important component of fuel cells, technology that produces electricity from oxygen and hydrogen.
So even with cars' energy sources and fuel systems set to change in the future, the auto industry will continue maintaining platinum demand at a high level.
Five percent of all supplies is used in electronics, such as LCD displays, hard disk drives, thermocouples that measure temperature, and infrared detectors.
The proliferation of personal computers in the developing world is sure to increase demand for platinum in the future.
Another five percent of suppies is used as a chemical catalyst.
It is used in explosives and fertilizers, in the production of silicone for aerospace and automotive industries, and as an additive to petrol to enhance combustion.
Smaller volumes are also used in a number of other applications, such as turbine engines, oxygen sensors, electrodes, pacemakers, and anticancer drugs.
It is also used to create alloys in a wide variety of metal items, including medical instruments, electrical contacts, and fine wires.
The use of platinum in jewellery In addition to its industrial uses, about twenty percent of supplies are used in jewellery.
It is a prestigious but expensive choice for jewellery, being reserved mostly for expensive luxurious items aimed at the wealthy.
It is an extremely durable metal, making it a popular choice for wedding rings and other meaningful keepsakes.
It is a white metal, and is largely considered better than white gold, which loses its white color over time and starts to appear yellow if it is not refixed every few years with rhodium plating.
Silver resembles platinum somewhat, but silver tarnishes over time while platinum retains its beauty without any maintenance.
Another benefit it holds for jewellery is that it does not cause any skin irritation like white gold sometimes does.
Nearly half of all platinum jewellery is sold in Japan.
Some say that this is a reflection of Japanese modesty, viewing gold as too overt an expression of wealth, but still desiring beauty and quality.
One of its downsides for jewellery is that it is heavier and more dense than gold, giving it some extra weight and possible discomfort.
Unlike gold, there are no significant stocks of platinum above ground.
Most of what is mined is used to immediately fill its high industrial and commercial demand.
That limited supply, combined with the probable increase in demand as economies develop around the globe, makes platinum a promising investment opportunity for the future.
It is extremely rare, approximately 30 times rarer than gold, and the price per oz.
is higher than that of gold.
This precious metal has the ISO currency code XPT.
How is platinum mined? It is collected as a by-product of nickel and copper mining.
90% of the its supply is mined in South Africa and Russia.
Around 8 tonnes of ore must be mined to produce just a single ounce of the pure metal.
What are the uses of platinum? It is used in a very wide variety of applications.
In fact, more than twenty percent of all consumer products contain or are produced using it in some capacity.
More than fifty percent of all supply sold is used in automobile emission control systems in cars.
These are devices that limit the amount of pollution from vehicle emissions.
It is also an important component of fuel cells, technology that produces electricity from oxygen and hydrogen.
So even with cars' energy sources and fuel systems set to change in the future, the auto industry will continue maintaining platinum demand at a high level.
Five percent of all supplies is used in electronics, such as LCD displays, hard disk drives, thermocouples that measure temperature, and infrared detectors.
The proliferation of personal computers in the developing world is sure to increase demand for platinum in the future.
Another five percent of suppies is used as a chemical catalyst.
It is used in explosives and fertilizers, in the production of silicone for aerospace and automotive industries, and as an additive to petrol to enhance combustion.
Smaller volumes are also used in a number of other applications, such as turbine engines, oxygen sensors, electrodes, pacemakers, and anticancer drugs.
It is also used to create alloys in a wide variety of metal items, including medical instruments, electrical contacts, and fine wires.
The use of platinum in jewellery In addition to its industrial uses, about twenty percent of supplies are used in jewellery.
It is a prestigious but expensive choice for jewellery, being reserved mostly for expensive luxurious items aimed at the wealthy.
It is an extremely durable metal, making it a popular choice for wedding rings and other meaningful keepsakes.
It is a white metal, and is largely considered better than white gold, which loses its white color over time and starts to appear yellow if it is not refixed every few years with rhodium plating.
Silver resembles platinum somewhat, but silver tarnishes over time while platinum retains its beauty without any maintenance.
Another benefit it holds for jewellery is that it does not cause any skin irritation like white gold sometimes does.
Nearly half of all platinum jewellery is sold in Japan.
Some say that this is a reflection of Japanese modesty, viewing gold as too overt an expression of wealth, but still desiring beauty and quality.
One of its downsides for jewellery is that it is heavier and more dense than gold, giving it some extra weight and possible discomfort.
Unlike gold, there are no significant stocks of platinum above ground.
Most of what is mined is used to immediately fill its high industrial and commercial demand.
That limited supply, combined with the probable increase in demand as economies develop around the globe, makes platinum a promising investment opportunity for the future.
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