Platinum (PL)

In the Old World, platinum was not known, but the Inca civilization extracted and used it since time immemorial. In Europe, platinum was unknown until the 18th century.

The name platinum was given by the Spanish conquistadors, who in the mid-16th century, first introduced in South America with a new metal that looks like silver (Spanish. Plata).

The bulk of the deposits of platinum (90%) lies in the interior of the five countries. These countries include South Africa, the US, Russia, China and Zimbabwe.

Platinum is used in dentistry and jewelry as well as in medicine. In the production of chemically resistant to heat and laboratory glassware. In the manufacture of miniature magnets huge force, special mirrors for laser technology, the heating elements furnaces.

Every year the world jewelry industry consumes about 50 tons of platinum.

The chemical composition and properties

Platinum – one of the most difficult (density 21.5 g / cm³), and the rarest of metals: the average content in the earth’s crust 5 × 10-7% by weight. By chemical properties similar to palladium platinum, but exhibits greater chemical stability.

Given the size of the low maximum arm size when trading with platinum and volatility, we recommend the conservative metal traders with a larger deposit.

Recently, platinum has become a defensive asset. In the case of the fall of commodity markets the metal drops in price is not as significant as other assets.