Platinum was discovered in America in the 16th century, initially believing that it was a metal of little value. To the naked eye it is very similar to silver; and hence his name. But several years after its discovery, platinum was found to be highly durable and corrosion resistant, melting at 1768ºC, which is well above the melting temperature of goldco review.
In addition, it is a metal that is not abundant, and this is the main reason to invest in platinum.
- Growing demand and low supply
Platinum has great appreciation potential as more and more uses are attributed to it, while its production does not increase in proportion.
Since the beginning of this century, the average annual demand for platinum has grown by around 20%. During the first quarter of 2021 alone, the global demand for platinum has grown by 26% compared to the same period in 2020. But its extraction is still very expensive due to the fact that it is a difficult task. Specifically, some 170 tons of this metal are unearthed each year, against approximately 3,300 that are extracted for gold.
- New uses for platinum
Sectors such as jewelry, the automotive industry, electronics, the manufacture of medical devices, among others, exert a growing demand for platinum, and this in turn is estimated to increase even more during 2021, since new applications are being attributed to it. industrialists to this precious metal.
- Diversification of your investments
Finally, the reason most directly related to platinum. This, like other precious investment metals such as gold and silver, is a safe haven. In other words, it maintains or even increases its value in times of economic or political uncertainty compared to other types of assets.