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Buying Bullion Info Tour
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About Investing In Platinum
Platinum, discovered in the 1600s, is the world's newest and rarest precious metal. As a precious metal, platinum helps diversify a portfolio comprised of traditional paper assets. Platinum is fundamentally an industrial commodity with many high-tech applications. Strong economic growth often generates increased demand for platinum.
Increasingly in Demand, Environmentally Friendly
How rare is platinum? All the platinum ever mined would occupy less than 25 cubic feet. Although demand has soared in the past decade, supplies are limited to only a few mining sources.
Platinum is the active pollution-fighting element in an automobile's catalytic converter and Supply / Demand of Platinumis also used to fight emissions in factories, bakeries and dry cleaning operations. These vital roles have continuously increased demand for this rare and beautiful metal.
In the past decade, manufacturing demand has risen 79%. In the exploding high-technology industry, platinum is integral to the manufacture of fiber optic wires, semiconductors, computer disks and the developing technology of proton-exchange membrane fuel cells.
Platinum is also treasured for its beauty and elegance. Jewelry, which accounts for nearly 40% of total consumption, is the largest application of platinum.
Important Facts About Platinum
- One in every five consumer products either contains platinum or is produced using platinum.
- Platinum is the active pollution-fighting element in catalytic converters, converting toxic auto emissions into harmless gasses.
- One gram of platinum could stretch into a wire over a mile long; a six-inch platinum cube is about as heavy as the average man.
- It takes ten tons of raw ore and six months of refining to produce one ounce of pure platinum.
- Spanish Conquistadors in the New World are credited with discovering and naming platinum around 1600 A.D.