It used to be that investors preferred gold and silver, but nowadays there are a number of other precious metals people choose to buy and sell. One of those is platinum. This is in fact, the third most traded precious metal in the world. The metal itself is used in a wide range of industries. The two biggest being auto catalytic converters and jewellery. It is also used in the medical industry and industry in general..
Understanding what platinum is used for will benefit you as an investor, because you will be able to appreciate the dynamics of supply and demand. Thereby be more aware of how the price of platinum could move in the future.
The Main Uses of Platinum
Automotive Industry
The main use of platinum is in the manufacture of catalytic converters. These are used in vehicles, between the engine and muffler of the exhaust system. They …