Fun Facts About Platinum

Here are a couple of things you probably didn’t know about Platinum:

  1. Platinum is the rarest and heaviest of the precious metals. All of the platinum ever mined would fit in the average size living room.
  2. Annually, only about 133 tons of platinum is mined, compared to about 1,782 tons of goldi.
  3. In contrast with gold and silver, there are no large above ground platinum bullioni stockpiles to protect against significant supply disruptions.  
  4. Ten tons of ore and a five-month process are needed to generate one ounce of platinum bullion.
  5. Legendary jewelers such as Cartier, Faberge and Tiffany created their timeless designs in platinum.
  6. The world's famous diamonds, including the Hope, Jonker I and Koh-I-Noor, are secured by platinum. 
  7. When World War II began, the U.S. government declared platinum a strategic metal and its use in non-military applications, including jewelry, was not allowed.
  8. As with all precious metals (gold, silver, etc.), platinum can be scratched. However, with platinum, there is actually no material lost from the scratch as there is with gold.
  9. Meteorites contain platinum and the earliest recorded meteorite impact on Earth happened 2 billion years ago.

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May 14, 2012

Goldi and silver continued moving lower this morning as risk aversion remains the preeminent consensus among market participants. Political uncertainty in Greece has triggered large equity losses and has driven yields on “safe haven” bonds lower.

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