Best crew for latinum mining
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While smaller platinum reserves can be found in the U.S. Check out a broker comparison table below. Most brokers will let you purchase American Depository Receipts (ADRs), but if you intend to purchase over-the-counter (OTC) stocks, make sure your broker provides access to that market, and ask what commissions they charge for that type of trade. Since many investors consider diversifying into precious metals a prudent strategy, buying platinum stocks could make sense, especially if you think platinum will rise in value. Platinum and other PGMs rank among the precious metals alongside gold and silver, with their industrial uses increasing as innovation and new technologies emerge.ĭespite the economic slowdown during the COVID-19 pandemic shutdowns, platinum miners and their stocks have recovered significantly, with production now approaching normal levels. The metal’s current spot price is $1,067.77. Platinum’s spot price has fluctuated between $800, where it traded in June 2020, to a high of $1,310 in February 2021. In addition to its major use in autocatalytic converters, platinum has a number of other uses including, electrodes and electrical contacts, dentistry equipment, jewelry and platinum resistance thermometers. South Africa produces approximately 80% of the world’s platinum, which totals just a few hundred metric tons globally every year, thereby making the metal a relatively rare commodity. The metal was referenced as early as the 16th century, but it was not investigated until a report was published by Antonio de Ulloa in 1748. This qualifies platinum as a “noble metal.”įirst used by pre-Columbian South American civilizations for making artifacts, native platinum can be sourced in the alluvial sands of rivers. The precious metal is among the least reactive metals and has high resistance to corrosion even at elevated temperatures. It has the symbol Pt and the atomic number 78. Platinum is a ductile, malleable metal with a silvery-white appearance. Features to Look for in a Platinum Stock.Best Online Brokers for Platinum Stocks.Benzinga’s picks for the best platinum stocks for investment purposes are highlighted below. As society transitions to more sustainable energy sources, green hydrogen technologies promise to transform the energy industry, so platinum and the other PGMs are expected to play an important role. For example, electric vehicles (EVs) require PGMs for their lithium-ion batteries.įurthermore, another application for PGMs has recently emerged for a new type of automobile known as a hydrogen fuel cell vehicle. This has the potential to make platinum mining stocks a great long-term investment. The global push for green energy has also spurred the growth of emerging technologies that make considerable use of platinum group metals (PGMs). Traditional use of platinum is in the catalytic converters currently used to clean the exhaust from automobile internal combustion engines. All those metals are used in jewelry, and platinum also has extensive industrial applications. After gold and silver, platinum has been a popular precious metal for trading and investing in.