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If you're wondering why?, I hope you read the article below　

Is there a platinum shortage?

The coronavirus pandemic has shaken up the demand-and-supply

dynamic for the metal and is expected to lead to a record shortage of platinum this year.

The World Platinum Investment Council, an industry group,

forecast last week that demand would exceed supply for platinum

this year by a record 1.2 million ounces.　

Why is the market price rising?

Platinum is mainly due to the fact

that more closely linked to stock prices than gold

and that it is closely linked to the automobile industry.

Many people buy gold for asset or investment purposes,

but platinum is not so much.

The reality is that about 40% of the platinum collected is used

in the automobile industry.

The current automobile industry is in the process of a decarbonization technology.

Decarbonization refers to the reduction or

elimination of carbon dioxide from energy sources.

For global environmental improvement

Different from the existing mainstream diesel vehicles

New technology cars are beginning to attract attention.

Platinum is a very dense but incredibly malleable metal

Platinum is a very dense but incredibly malleable metal.

It has important industrial applications,

including in catalytic converters for cars and turbine engines for planes.

It also is used in medical devices such as pacemakers and in jewelry.

What are 5 uses for platinum?

Platinum uses come from 5 major sectors: 

1. Platinum Automotive Catalytic Converter Exhaust Pollution Prevention (heavy in diesel)
2. Platinum Jewelry
3. Platinum Petrochemical Uses
4. Platinum Investment Demand (platinum bullion bars, coins)
5. Platinum Industrial Applications

What are the uses of platinum metal?

Platinum is used in the chemicals industry

as a catalyst for the production of nitric acid, silicone and benzene.

It is also used as a catalyst to improve the efficiency of fuel cells.

The electronics industry uses platinum for computer hard disks and thermocouples.

How is platinum used in jewelry?

Platinum is a naturally white precious metal

and has several properties that make it a preferred jewelry material.

Among the main advantages of using platinum

for jewelry are its strength and resistance to tarnish,

both of which make it the ideal setting for diamonds and other gemstones.

Why platinum is so expensive?

When it comes to picking a metal for your engagement or wedding ring,

platinum is typically a more expensive choice.

The main reason for this is that precious metals

are priced by weight and platinum is much denser than gold,

so any platinum jewelry will weigh more.

Used jewelry that you can buy at a great price

 

 

 

 

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