Platinum is a rare element that costs even more than gold. It is formed in igneous rocks along with iron, magnesium, copper and gold. It is found in the thin layers underground and it is mined from these layers. Platinum is also mined from the rivers and streams from where it is reached by various natural forces such as wind and rain. It is pure metal with silvery-white in appearance. It is lustrous, ductile, as well as malleable. It is resistant to wear and tear, thus it us widely used for making fine jewellery. Moreover, it offers great resistance to corrosion and high temperatures. It exhibits stable electrical properties and these characteristics are exploited in wide array of industrial applications.
The platinum is being used for automobile emissions control devices, jewellery, and electronics. In chemical industries, it is used as a catalyst. Other applications of platinum include electrodes, anticancer drugs, turbine engines, oxygen sensors, and spark plugs. It is a valuable metal commodity and its bullion refers to the ISO currency code of XPT. You can trade and collect Coins, bars, and ingots. In Jewellery, it is found as a 90-95% alloy, because of its shine and inertness. It is extensively used in the watchmaking with major companies such as Patek Philippe, Rolex, and others are using it for the production of their limited edition watches.
Among the top-rated Platinum Producers is South Africa which is regarded as the largest platinum producer of world. Platinum has a rare occurrence in nature and therefore this metal has caused the advertisers to link it with wealth and exclusivity. It is widely used as a symbol of prestige. The Platinum debit cards possess greater privileges than gold ones. The "Platinum awards" are the second highest and ranks above the gold, silver and bronze. The price of platinum is more volatile than that of gold. It is one of those rare elements that have caused the attention of the industry and its use is rapidly increasing.