I just learned about platinum and realized that it is indeed a quite interesting metal to invest in. What is platinum that makes it so attention-grabbing? It is one of the rarest elements on Earth, with an average distribution density of only 0.005mg/kg. In pure form, platinum has a gray-white color, a shiny luster, is ductile, and does not oxidize in any environment – making it an ideal material for both high-end jewelry and industrial applications.

An interesting fact is, what is platinum that it is less known in Vietnam compared to gold? Here, platinum is mainly sold as jewelry rather than as a storage metal like traditional gold. The price of platinum at domestic jewelry stores is quite high – a 19.625-karat platinum wedding ring can cost around 14.99 million VND, equivalent to 76.38 million VND per gram. However, this price is three times higher than the global price because it is crafted jewelry, not pure platinum.

Looking at price history, platinum has experienced many fluctuations. In 2008, it hit a record high of $2,270 per ounce, but then dropped to $774/oz in November of the same year due to the financial crisis. From 2010-2015, prices fluctuated around $1,400-$1,600 per ounce. Notably, since 2012, gold has surpassed platinum in trading value because gold is considered a safer haven asset during economic instability.

Comparing what is platinum with gold and white gold is also very useful. Gold currently costs about $2,340 per ounce, 18k white gold around $1,747 per ounce, and platinum about $1,061 per ounce. Although platinum is 15 times more abundant in terms of mining output than gold, its price is lower – reflecting their different roles in the market. Gold acts as an international currency, while platinum mainly depends on industrial supply and demand.

Regarding applications, what is platinum besides jewelry? It accounts for over 50% of the automotive industry (catalytic converters), is used in medicine (medical devices, chemotherapy drugs), and has great potential in green hydrogen industries. Most platinum production comes from South Africa (80%), followed by Russia and Zimbabwe.

There are many ways to invest in platinum: ETFs, futures contracts, mining stocks, or CFDs. With CFDs, you don’t need to own the actual platinum but can still profit from price movements. This is also the most popular method in Vietnam due to low investment requirements and high leverage.

Why should you pay attention to platinum now? First, it is an inflation hedge during economic instability. Second, high price volatility offers opportunities for significant profits. Third, industrial demand is increasing, especially as automakers seek to replace palladium with platinum because palladium prices are too high (once reaching $3,300 per ounce). Lastly, platinum supply is currently short due to geopolitical disruptions.

Compared to gold, platinum is less favored but has its own potential. About 60% of platinum demand comes from the industrial sector, so its price often follows global supply and demand trends – making it easier for traders to forecast fluctuations. Although it is not an absolute safe haven like gold, platinum is a worthwhile investment option for those seeking high volatility and potential profit opportunities in the near future.