Benefits of investing in platinum

Investing in precious metals, right next to storing savings in foreign, stable currencies, is one of the most popular ways for investing capital. More and more people are reaching for this solution. This is not surprising, considering that recent years have not been kind to us in terms of multiplying savings. Rising inflation is driving down the value of money, so it's good to find a stable form of investment that allows you to wait out the crisis. Platinum is a precious metal with great potential. Want to know why? Check out our article.

Platinum is widely used in many sectors. The non-toxicity of this material makes it safe for use in surgery, among other areas. It is distinguished by its absorption properties, enabling it to absorb harmful substances. For this reason, it is used in the manufacture of catalytic converters that filter automobile exhaust. Right next to palladium, platinum is one of the most common precious metals used in the production of catalysts.

The occurrence of this precious metal is limited. Platinum is mainly mined in Russia, South Africa, Zimbabwe, Canada or the USA. During the pandemic, there was a downturn in the automotive industry, which meant that demand for platinum was not as substantial. Nevertheless, at the end of the pandemic, when everything began to return to normal, the value of platinum began to rise again. The conflict between Russia and Ukraine had the greatest impact on its price. Forecasts indicate that the upward trend in the value of this precious metal may continue.

Catalytic converters in a car carry out an extremely important function. It is this component of the exhaust system that is responsible for minimizing the negative impact of emissions on the environment. The design of the catalyst uses valuable precious metals - palladium and platinum, the recovery of which is possible in the recycling process.

The catalytic converter, which is no longer used in the car, is still an extremely valuable object from which we can recover platinum or palladium. To do this, this component of the exhaust system is dismantled and processed accordingly.

Those interested in recovering precious metals from catalytic converters will certainly be curious about the potential profits involved in recycling these components. In fact, it all depends on how much platinum is in the component. The amount of valuable raw material is not the same for each catalytic converter, but it is usually around 5 grams.

Forecasts related to the price of platinum for the coming months are extremely promising. As expected, the price of this raw material will maintain an upward trend. This trend will have a long-term effect, which will definitely please those who want to invest in precious metals in the near future. CoinPriceForecast presented a long-term forecast, which announced that by the end of 2030 the value of platinum could reach the dizzying sum of $2432.