Just like gold and silver, platinum is considered a safe haven investment, but it’s a precious metal you might not be so familiar with. Mined primarily in Canada, Columbia, Peru, Russia and South Africa, platinum is the rarest of all precious metals. Annual production is just 10% of that of gold and its natural scarcity is compounded by a complex refinement process.
Thanks to its beautiful silver-blue colour, Platinum is a highly sought-after component in prestige jewellery and it has a wide variety of industrial uses including: electronics, chemical processing and medical and dental applications.
As it’s an essential component in devices designed to control vehicle emissions, platinum also plays an important role in the drive towards more environmentally friendly transport. Consequently, as the world aspires to go green, demand for platinum has soared, but prices have remind relatively low.
My small #mene PLATINUM collection
Relatively low prices for platinum can make it a commodity of choice for many investors. Buying an asset when the price is relatively low can serve as a good investment strategy, especially in the case of the assets with fundamental market support. Believing in step-by-step recovery for platinum’s price for the rest of 2020, I predict significant price growth in 2021 and beyond. It means that it may be a good time to diversify your portfolio with platinum before the price breaks out.
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