Platinum is one of the rarest and most expensive of all the precious metals. First referenced in 1557 by Italian humanist Julius Caesar Scaliger, and declared theonly metal fit for a king by King Louis XV of France, Platinum has grown in popularity due to its resilience and many technical uses.
It has taken almost 400 years of technological advancements to reach the point where we can take advantage of all of Platinum’s qualities. The metal is now used for a variety of commercial and industrial applications.
Platinum’s most useful quality is its resistance to high temperatures, making it one of the only metals capable of withstanding heat generated by automobiles in catalytic converters. Platinum is also an amazing conductor of electricity, and does not oxidise when exposed to air, making it a great choice for jewelry.
When trading Platinum Futures, it is important to remember that while the precious metal is extremely rare, it is almost constantly in high demand. This makes for heavy market movements and high volatility on Platinum Futures, and savvy traders that pay close attention can bring in high returns.
Factors That Can Influence Platinum Prices
- With over half of all mined Platinum used for jewelry, prices are known to fluctuate heavily, due to rapidly changing demands and tastes.
- Since Platinum is used as a key component in catalytic converters, as well as fuel-cell technologies, the rise in popularity of electric cars could affect demand and prices.
- Platinum’s recent uses in archival photography, thermometers, electrodes, crucibles for high temperature melting, and electronics are creating a new demand for the precious metal.
Anyone who wants to trade Platinum should be aware of the factors that can influence market prices.Trade Platinum