Platinum price hits $1,100 as it outperforms gold and silver, | ✨Quantum Stellar Initiative (QSI)✨

Platinum price hits $1,100 as it outperforms gold and silver, driven by improving fundamentals

"Platinum remains under-owned but also still undervalued compared to gold and to its one-to-one substitute, palladium," said Trevor Raymond, CEO of the WPIC, in a comment to Kitco News

Analysts note that platinum's latest rally shows the precious metal's explosive potential. Ole Hansen, head of commodity strategy at Saxo Bank, described the precious metal as the market's Sleeping Beauty, "due to its troubled supply origins and given its participation in the green transformation." Platinum is primarily used in the auto sector and is a critical component in catalytic converters, which are used to reduce harmful emissions from gasoline and diesel-powered vehicles

However, analysts note that platinum is also coming into its own as part of the global green energy transition. It is used as a catalyst to separate water into oxygen and hydrogen; the hydrogen is then used as a power source

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https://www.kitco.com/news/2023-04-19/Platinum-price-hits-1-100-as-it-outperforms-gold-and-silver-driven-by-improving-fundamentals.html


Platinum’s most significant characteristic as a precious metal is its rarity. Only about 5,000 tons of platinum has been ever produced, less than one-thirtieth of the 170,000 tons of gold produced. Due to its high melting point, high density, ultra-stability, and extreme non-corrosiveness, platinum is used in a variety of industries, from the automotive to industrial applications in chemicals, electronics, glass, oil refining and high-temperature measurement, as well as medical and environmental fields

https://market-news-insights-jpx.com/ose/commodities/article004722/

Time for Platinum ETFs as the "Sleeping Beauty" Awakens?

Platinum Emerging as a Replacement for Palladium
As platinum is increasingly being used as a substitute for palladium in the production of emission-control catalytic converters, its demand is expected to grow. Additionally, platinum's role in environmentally-friendly hydrogen fuel-cell-powered vehicles makes it an essential component in the push for greener technology. Platinum is a biologically compatible metal because it is non-toxic. It does not react with, or harm, body tissue. Hence, it is heavily used in the medical sector and cancer treatments

https://www.nasdaq.com/articles/time-for-platinum-etfs-as-the-sleeping-beauty-awakens


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