Some investors may want to prioritize stability and long-term investing. In that case, gold is likely the better option. The precious metal has a longstanding history of reliable demand which often spikes during economic downturns. On the other hand, platinum usually performs better during times of economic growth.
Platinum. Like gold and silver, platinum trades around the clock on global commodities markets. It often tends to fetch a higher price (per troy ounce) than gold during routine periods of market and political stability simply because it's much rarer.
Platinum is rarer than gold, and its demand is strong across several industries. However, platinum is a highly volatile precious metal that tends to see sharp swings in its prices. Its volatility can create opportunities for profit, but there's always the chance of losing a lot of money.
If you want some assurance with precious metal investments, platinum can be a great portfolio addition. It can easily hold its value even during economic volatility; even a small amount is enough for high returns. Platinum is mostly popular as a bullion metal investment.
Platinum lasts longer and can require less upkeep than gold. It's pure, hypoallergenic, and a classic option. However, gold is more malleable, scratch-resistant, and affordable. Gold also comes in several color options whereas platinum is always silver-white colored.
HARDER, BETTER, RARER, STRONGER
For starters, gold is far more abundant in the earth's crust, making platinum rarer. Whilst 1,500 tons of gold are mined annually, only 160 tons of platinum are extracted.
Platinum Tends to Have a Poor Resale Value
The main reason is because a relatively small number of people are willing to buy it. This doesn't mean you can't find a reputable buyer, but you'll need to do some searching as you explore your options.
Supply issues
The refined mine supply of platinum dropped 18% year-on-year in 2022, according to the WPIC, with South Africa and Russia having seen the biggest decreases.
2023-02 Copper the metal of the future
In 2021, the world consumed over 25 million tonnes of copper and it is predicted that demand for copper could near double within the next three decades. Copper is integral to our daily lives.
Forecast for metals demand
In terms of individual markets further significant growth over the next 15 years is likely in nickel, aluminium and steel.
Due to positive macroeconomic and fundamental drivers, we expect platinum to be a profitable investment in 2023. Supply-side constraints and consumption supported by increased regulations aiming at reducing pollution in the automotive industry will tighten the market balance of the platinum market.
After two years of surpluses, the platinum market is forecast to move to a material deficit in 2023. The swing is considerable. There was a 776koz surplus in 2022. That will become a 556koz deficit in 2023.
It is the most durable metal used to make jewellery. Platinum should last a lifetime and you should not have to reset your platinum engagement ring. Platinum is a naturally white metal that is highly resistant to tarnish.
Platinum selling works very similar to any other precious metal. A personal seller needs to have a bit of understanding what's going on with the given metal market before getting started. Like gold or silver, platinum has an investment value as well as an industrial use noted above.
According to the latest long-term forecast, Platinum price will hit $1,000 by the middle of 2023 and then $1,500 by the end of 2024. Platinum will rise to $2,000 within the year of 2026, $2,500 in 2028, $3,000 in 2030, $3,500 in 2032 and $4,000 in 2034.
RHODIUM: TOP MOST VALUABLE METAL
Rhodium is the most valuable metal and exists within the platinum group of metals.
Precious metals are rare metals that have high economic value. They're valuable because they're scarce, useful for industrial processes, or have investment properties that make them a good store of value. Notable precious metals include gold, silver, platinum, and palladium.
Platinum is next in line among the precious metals and is known for being non-corrosive and dense. It has become popular for being very malleable.
"The Gold Lifesaving Medal or the Silver Lifesaving Medal may be awarded to any person who rescues or endeavors to rescue any other person from drowning, shipwreck, or other perils of the water.
On the downside, platinum is very expensive to purchase and repair, and some jewelers cannot even work with the metal because they don't have the equipment, materials, or experience to deal with its unique chemical properties.
Platinum Coins
Platinum bullion in the form of coins is fairly easy to sell. This is because the quality and purity of officially minted coins is often guaranteed or clearly documented, especially if you made your purchase from a reputable source.
China buying removes large quantities of the metal from European markets as green energy transition continues. Since platinum is widely used in the hydrogen electrolysis process to produce an eco-friendly fuel, this factor is also expected to give the platinum market a big boost.
With global economic turbulence running high due to inflation and other factors, platinum remained well off its 2021 high of US$1,303. At the same time, broad demand growth ate away at supply, creating a market deficit. Platinum's price performance in 2022.
Diamonds (gem quality)
The only disadvantages to platinum are the higher cost and heavier weight. For example, platinum is a great metal for necklaces, bracelets and rings but not earrings, because the heavy weight may pull down more on your ears and cause discomfort.