1. Is platinum preferable to gold?
Platinum is significantly rarer than gold and, and consequently, valued more highly. For every ounce of platinum mined, thirty ounces of gold have been extracted. Nevertheless, as an industrial metal, the price of platinum is largely determined by market forces and supply and demand. Platinum's price can fluctuate by the second, but our website allows you to monitor the price of platinum in real-time.
2. Is platinum more valuable than gold?
Platinum has only been cheaper than gold four times during the last four decades. The current period, the longest ever, is difficult to reconcile with five years of demand exceeding supply. Investors who haven't considered buying platinum previously may see now as an opportune moment to start.
3. What makes platinum so unique?
Platinum's one-of-a-kind physical properties make it an extremely valuable industrial metal. Due to its catalytic properties, it is used to make fertilizer for crops, aid in the conversion of crude oil to gasoline, and most commonly in the catalytic converters used to clean diesel emissions. Platinum also has several lesser-known applications, including medical implants, anti-cancer treatments, and hydrogen fuel cells.
4. Why is platinum relatively affordable currently?
Platinum reached its all-time high price in 2008. As an industrial metal, however, its price is always going to be heavily influenced by supply and demand. Platinum is primarily used in diesel catalytic converters and since the appeal of diesel cars has waned, so has the demand for platinum.
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