One of the most beautiful precious metals traded today is platinum. It is found in even smaller quantities than gold and silver. However, it is commonly ignored in favor of other precious metals. This is also a very interesting investment asset because it is commonly used in industrial applications. It is also a vital component in motor vehicles. There are many different options for people to invest in platinum. This includes stock in businesses heavily involved in the sale and extraction of the metal. Other investment options include exchange traded-futures contracts and both futures-based and physically backed exchanged-traded products.
Uses and Physical Properties of Platinum
Platinum is a malleable and dense transition metal. It also belongs to the platinum group of constituents that are generally unreactive. It has certain physical attributes that make it very useful for industrial applications. It is highly resistant to corrosion even in extreme weather conditions. This makes it very appealing for use as a component in catalytic converters.
About half of the world’s supply of platinum is used for emission control devices for motor vehicles. Due to its catalyst attributes, it helps in the conversion of hydrocarbons from the car’s exhaust into water vapor and carbon dioxide. Electronics and jewelry also make significant use of platinum. At the same time, platinum is also being used in thermometers and certain dental applications.