Out of the several precious metals on the earth, platinum is one of the scarcest. With its scarcity also comes a relatively new arrival into the financial market as well; compared to gold and silver, it has not been a metal used as investments until recent times. Platinum is currently traded on the New York Mercantile Exchange (NYMEX) and the London Platinum and Palladium Market.
Part of the appeal to platinum in recent years is its relative scarcity. Mining productions of this precious metal produces approximately 5 million troy ounces a year. Gold however produces 82 million ounces a year, and silver production is approximately 547 million ounces. Due to this it tends to sell higher per unit than other similar metals. Its elemental make up brings about a rarity in coin production as well, investments in platinum usually consists of the metal as a whole unit, rather molded into coinage. We have many more Platinum Investing Help Articles Now Available.
If you are in possession of platinum coins, jewelry or the metal in any other form, now is the time to hold onto it, as its value has drastically risen, and is expected to keep running in a bullish market. Its demand is rising, especially in today’s environmentally conscience society. As concerns about the exhausts we emit and its effect on the environment rises, it can be expected that the price of platinum will rise as well.
This is so because platinum is used in making the autocatalysts that control vehicle exhaust emissions of hydro-carbons, carbon monoxide and other exhaust waste. As a matter of fact, over 50% of platinum production is used in the automobile industry, making it an attractive investment as the industry continues to expand in developing economic powers such as China and India. As demand goes up, your investment’s value will keep on rising. We have many more Platinum Investing Help Articles Now Available.