Precious Metals Thoughts #5
...let me say a few more words about Platinum (Pt)...
...as i said in my previous post Platinum should not be confused with White Gold cause we are talking about two different things...
...its very high melting point at about 1800 Celsius Degrees gives the metal big advantages but big disadvantages as well....
...if we look back in history the first Platinum occurrence is applied in ancient Egypt back in 700 B.C....
...today more than 75% of the global production of this metal is been held in South Africa..
...actually the number is even higher...South Africa is responsible for 80% of global Platinum extraction!!...
...i just wanna mention something that may interest someone of you...Platinum is part of a big family of precious metals know as PGMs....we talk about them later...
second in the queue of mining is Russia and then we have Zimbabwe ,Canada and the USA....
..its hardness is 4-4.5 in the MOH's scale which makes it harder than other metals used in jewellery industry..
...Its main use, however, is in catalytic converters...did you read it???....catalytic converters...so everyone of us holds a small quantity of Platinum in his/her car!!!...
..but lets see platinum pricing today...
....today's trading price is at about 1109 US dollars per ounce....the fact is that platinum used to trade at a higher level than gold but it faced a great drop in its price from 2011 to 2015 so it find a very solid resistance at the current levels...
...no matter what platinum is a metal that fascinates me and i'm always willing to save some of it, in my treasure box!!!
chart taken from bullionvault.com
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some of my sources