Rick Rule, Senior Managing Director of Sprott Inc., interviews Trevor Raymond, Director of Research at the World Platinum Investment Council, about promising signs that the market for platinum may be changing in the next few years, after nearly seven years of continuously downward prices.
Platinum has its precious metal nature, but Raymond says the metal plays a remarkable role in other applications that are supply-demand drivers. He outlines four demand categories — industrial, automotive, investment and jewelry — and offers application examples for each.
Platinum industrial use is strongly correlated to global growth, says Raymond. The metal is used in fuel cells for gasoline cars and in medical technology, including cancer drug treatments and surgery. Platinum is also used in the manufacture of nitric acid that goes into fertilizer. Of note is platinum’s interrelationship with other metals, particularly palladium, and their use in automotive applications.
Platinum vs. Palladium Prices Since 2000
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