3 Benefits of Investing in Platinum
After rhodium, platinum is the most valuable precious metal in the world. Of course, this means that investing in platinum has a number of benefits. Because of its wide usage and versatility, it is often considered even more valuable than rhodium.
The cost of one ounce of platinum in October 2020 is roughly around $873. Before making such a significant investment, it’s wise to read ahead and familiarize yourself with the benefits of buying platinum.
Platinum Prices Increase Rapidly
The best thing about investing in platinum is the rapidity at which its value increases. In 1971, an ounce of platinum was worth $90, and in 1980, a mere 8 years later, it had increased more than tenfold to $1000. This shows that it is one of the top performing assets for investment.
You’re bound to get excellent returns on platinum investments. And what sets it apart is that the speed at which the value of platinum increases is unmatched by other precious metals.
It Is Limited in Supply
A majority of the world’s platinum comes from Russia and South Africa, and there are very few platinum reserves, even in these areas. In case of any international unrest in these two countries, or national calamities, there will be great uncertainty regarding the supply of platinum for the rest of the world. This means prices of platinum could immediately skyrocket, making it a smart investment option for the present.
It Has Numerous Industrial Uses
Platinum is ductile and malleable, and also has a great metallic sheen. This means it can be used for industrial purposes and is also less prone to rusting, corrosion or any sort of serious damage.
It also used in jewelry, dental care and in motor vehicles. Because of its properties and many uses, demand for platinum will always exist, which means there are fewer risks involved in its purchase.
With the benefits of rapid increases in price, limited worldwide supply and amazing solid properties, platinum proves to be an excellent investment option for those looking to invest in precious metals. If you plan to invest in platinum and get a precious metals IRA account, Orion Metal Exchange offers a perfect solution for you. We also offer private vault storage so you know your precious metals investment will be safe.