Platinum and Palladium: An Overview of These Precious Metals
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If you’re considering investing in precious metals, you have a range of other options than just gold and silver. Since these two metals have reigned over the precious metal industry for centuries, people tend to ignore competitors that have since emerged worthwhile. These include platinum and palladium.
These silver-grayish metals have acquired a large base of enthusiastic investors who’re looking for options to diversify their investment portfolio. Classified as precious white metals, these treasures neither lack in luster nor lucrative returns.
Over the years, they’ve proved their resilience and relevance in almost every industry, from medicine to automotive. Apart from their industrial uses, they also offer a valuable opportunity to make investment in precious metal.
Here’s a quick guide that’ll answer all your questions.
What is Platinum
First found and recorded in the 16th century during the time of the Spanish conquistadors, ores of platinum were discovered in South and Central America. It received its name from the Spanish term platina that translates to ‘little silver’.
Initially confused as worthless scrap at a time when only gold was recognized as precious, platinum was soon acknowledged as one of the best ones. Corrosion-resistance, durable and aesthetically attractive in nature, platinum soon became a big hit alongside gold.
Uses for Platinum
Most commonly, platinum is being used in the automotive industry. Because of its catalytic properties, it’s an indispensable resource for car manufacturers. It’s also used to make corrosion-resistant conductors.
Not to mention, this white metal is known for its contribution to the jewelry industry. It’s also utilized in making dentistry instruments. Investors are now putting their trust in platinum as a bullion product to secure their savings. This has garnered demand for platinum coins and bars.
What is Palladium
Named on the asteroid called pallas, palladium was first discovered in the 1800s. A tone or two darker than platinum, this is a gloriously shiny gray-silver metal with similar properties as other metals in the platinum family.
Uses for Palladium
If you’ve heard and wished to own a piece of white gold, you should know that it’s made with palladium! This is a very rare precious metal that’s rare to find in abundance anywhere on the globe.
Palladium is popularly used in the automobile industry for manufacturing catalytic converters, as well as gasoline engines. Its anti-corrosion properties also come in handy when making electric conductors.
Apart from its uses in the secondary industry, it’s becoming a reliable asset in the precious metal investment arena.
If you’re interested in finding out more about metal investments, we’re here to answer all questions.