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Facts about: Platinum

LessThunk: Facts about Platinum

  • chemical element (Pt, atomic number 78)
  • dense, malleable, ductile, highly unreactive, precious, gray-white transition metal.
  • rarest and heaviest precious metal, 1/10th the supply of gold and 1/100th the supply of silver
  • mostly from South Africa (75% of world production) and Russia, yearly production less than 200 t;
  • the 2014 strike in South Africa cost 30% of annual production: but the impact on price was less than expected, due to weak global demand and stored inventory.
  • precious metal, rich man’s gold !
  • highly correlated to gold, silver price
  • at the moment gold is more expensive than platinum, historically platinum is more valuable
  • usage: investement (8%), automtotive (33%), jewelery (30%), general industry (rest)
  • Stillwater Mining is the largest North American Platinum miner ; Wellgreen Platinum is a Canada based mining exploration company and development that we are watching closely.
    602px-2005_AEPlat_Proof_Obvplatinum eagle (from wikipedia);

 

Screen Shot 2015-02-18 at 11.58.19 AMPrice chart: 1992 to date from Kitco.

 

 


Categorised as: Investing

Posted by: Kramer



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