Platinum is a valuable and an expensive metal, which is why only large scale investors choose to invest in platinum. Its commercial use started back in 700 BC when Egyptian people commonly used it in making jewellery.
Everyone knows that the value of platinum is extremely high, but not everyone knows about the factors that give this metal its value. So, let’s discuss the reasons why platinum is valued more than any other precious metal:
· It’s a Rare Metal
One of the major reasons why platinum is valued higher than any other precious metal, including gold, is its rarity. When compared with the availability of gold, it’s 30% rare. The low supply of the metal has played a major role in increasing its value in the market.
Platinum jewellery is a status symbol. Around 88 tons of platinum is made into jewellery every year. Due to its durability and strength, many people choose to buy jewellery made of this rare metal. You can check goldbullionaustralia.com.au to buy the rare metal.
· It’s a Pure Metal
When it comes to any precious metal, such as gold or silver, it’s impossible to attain 100% purity. But when you buy platinum, you can be sure that you’re investing in a metal that is 100% pure. This purity significantly increases the value of platinum.
Platinum is also used in jewellery and other products, since it’s a pure metal. It doesn’t get damaged easily and retains its shape and colour for longer periods. Moreover, this purity gives it hypoallergenic characteristics, which means it won’t lead to any allergic reactions.
· It’s a Versatile Metal
Aside from jewellery, platinum has various other applications. Here are some ways you can use this precious metal:
- Automobile Parts – Platinum is used in vehicles as a catalytic converter to reduce the emission of harmful compounds such as nitrogen oxide, carbon monoxide and hydrocarbons
- Dental Appliances – Platinum is used in making crowns and bridges, since it lasts longer
- Storage Devices – Today, computer hard disks are commonly made up of platinum, since its enhances the storage capacity by enhancing the magnetic capability
- Gasoline Production – Platinum is also used in catalytic reforming process to break down crude oils into gasoline
- Medicine – Platinum is used in medicines that prevent the growth of cancerous cells in the body
· It’s a Secure Metal
Platinum is a strong metal that is often used in jewellery to protect precious diamonds and gemstones. It offers resistance when a force is applied so as to keep the gemstones intact.
Furthermore, you don’t need to worry about your expensive white jewellery losing its shape and colour. Even gold jewellery loses its colour with time. But with platinum metal, there’s nothing to worry about. Although platinum is alloyed with other metal to make jewellery, it retains its colour over time.
Investing in platinum metal is a great way to secure your investment. You can buy jewellery made of platinum without worrying that it’ll break or lose its colour.