Pt 29.8 Pd 30.385 Rh 142.267 Au 86.166 Ag 0.992

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Platinum is a chemical element with the symbol Pt and atomic number 78

Platinum is a precious metal that is highly valued for its rarity, durability, malleability, conductivity, and beauty. It is a dense (21.4 g/cm^3), silvery-white metal that is resistant to corrosion and oxidation, making it extremely durable. Platinum is also an excellent conductor of heat and electricity, which makes it useful in a wide range of industrial applications.

Platinum is commonly used in jewelry, particularly in engagement rings and wedding bands. It is also used in auto catalytic converters, which are devices that reduce harmful emissions from vehicles. Platinum is also used in electronics, medical devices, and aerospace applications, such as plating engine blades with platinum coating thanks to its remarkable resistance to corrosion, even at high temperatures.

Platinum  It is one of the rarer elements in Earth’s crust, with an average abundance of approximately 5 μg/kg. It occurs in some nickel and copper ores along with some native deposits. Platinum is primarily found in South Africa, which is the largest producer of the metal, followed by Russia, Zimbabwe, and Canada. Other countries where platinum is found in smaller quantities include the United States, Colombia, and Australia.

Due to its rarity and high value, platinum is often traded on commodity markets and is considered a valuable investment. It is also used as a currency reserve by some countries, such as Russia.

Overall, platinum’s unique combination of properties makes it a valuable and versatile metal that is used in a wide range of applications across many industries.

Platinum price is about 1050 $/toz (04/2023) which is about 33.7 $/gram. Some experts predict its price will increase as it is an important component in fuel cells. On the other hand, demand for the auto catalytic converters may go down as the EV market grows rapidly.  

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Platinum Price Forecast 2024, 2025, 2030: Will the Downtrend Reverse?”:

  • Rarity vs. Price: Despite being the rarest precious metal, platinum’s price has not reflected its scarcity due to weak demand, especially from the automotive sector.
  • Demand Factors: The auto industry, which accounts for 44% of platinum demand, has faced challenges like semiconductor shortages and shifts toward electric vehicles (EVs), reducing platinum demand.
  • Market Deficit: The platinum market has been in a deficit, supported by constrained supply from mine closures, reduced recycling, and geopolitical issues affecting major producers like South Africa and Russia.
  • Future Demand: Platinum demand is expected to persist in internal combustion engine (ICE) vehicles despite the rise of EVs. The hydrogen economy presents a new potential demand source for platinum in fuel cells.
  • Price Forecasts:
    • 2024: Prices expected between $953.19 and $1,050/oz, influenced by a sustained deficit and limited supply.
    • 2025: Forecasts suggest prices between $991.69 and $1,273/oz, with continued industrial and automotive demand.
    • 2030: Longer-term forecasts are bullish, projecting prices around $1,250/oz due to constrained supply and rising demand from new energy sectors.
  • Substitution Dynamics: The switch from palladium to platinum in catalytic converters continues due to cost advantages, but the trend may slow if platinum prices rise above palladium.
  • Economic Influences: Potential U.S. Federal Reserve rate cuts and economic recovery in key markets like China could impact platinum prices.
  • Regulatory Impact: Stricter emission regulations in the EU and North America may increase platinum demand for catalytic converters.
  • Investment Considerations: Investors should consider their risk tolerance, market expertise, and portfolio diversification before investing in platinum, as market conditions remain volatile.
 
 

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