Precious metals like gold and silver have always been integral to investments. Though millions of people have been buying gold for hundreds of years, there’s one precious metal that quickly grabbed the eye of precious metal investors, and that is Platinum. Platinum promptly rose to popularity after its discovery in the 16th century.
With the rising demand from investors, precious metal bullion sellers, like the one here, have become very popular. Despite the increasing popularity of Platinum, many people are still unaware of the benefits of investing in precious metals like Platinum. Therefore, here are the top 4 reasons you should invest in Platinum in 2022.
1. Multiple Uses
Being of the rarest metals globally, Platinum has found its place in numerous industries and applications. From automobiles, electronics, jewellery, and healthcare, Platinum has been an integral part of various industries. It is also used in almost all electronics, so chances are the device you are using to read this article has Platinum too.
Though the most known use of Platinum is in ornament and jewellery, it’s an essential part of numerous industries. 50% of the overall demand for Platinum is for the catalytic converters in cars, buses and trucks. It helps convert emissions from car engines into less harmful waste. It is also mainly used in chemical industries as a catalyst for silicone and nitric acid production. Platinum is also used in electronic components like LCDs, optical fibres, spark plugs and pacemakers. It is also used in healthcare as an essential compound in chemotherapy to treat cancer.
Such widespread use of Platinum indicates promising demand in the market, which clearly increases its market value. That’s why Platinum should be on top of your precious metal investment portfolio in 2022.
2. Rising Market Demand
The demand for Platinum has been rising significantly over the last few years. According to Investing News, the industrial demand for Platinum increased by 20% last year during Q3. The experts also suggest that the demand will remain high for the entire year of 2022. The year also saw a growth of 7 million ounces. As multiple industries are using this rare metal, the market demand shows an upward trend. This upward trend might be misunderstood as an outcome of volatile investor sentiment, but in reality, it is the rising demand for Platinum from various industries.
3. High Material Value
Even if you keep the rising demand aside for a while, it is worth keeping in mind that Platinum is a precious metal- more precious than gold. It has immense material value. Though the demand and supply may fluctuate, Platinum shows a consistent upward trend in value. It has increased from AUD$200 per ounce to AUD$1000 per ounce from 1969 to 2021. That means even if the platinum price fluctuates in the short term, it is bound to go up in the long run. Whether you own platinum coins or bars, the value of the precious metal is always going to go up.
4. It is Highly Malleable
Thanks to its high malleability, it can be moulded into various small and delicate shapes. The high malleability makes it a perfect option for making delicate, fine jewellery and micro parts of electronics.
Platinum bullion is becoming one of the most sought after investment options in 2022. With the high uncertainty in crypto and other investment options, investments in precious metals like Platinum always yield good results.
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