Platinum is a very rare precious metal and is often considered to be more valuable than gold. In fact, most experts believe that platinum is 15-20% rarer than gold. Almost all of the world’s supply of platinum comes from The Republic of South Africa, Canada, Russia, and the U.S. The lion’s share of the world’s platinum consumption is from the jewelry field, with the automotive industry coming in seconds place. Currently, the U.S. is the world’s largest importer of platinum.

There is evidence that platinum has been around and used since the dawn of man in ancient Egypt, however it wasn’t until 1746 when Antonio de Ulloa, a Spanish explorer, was officially credited with the discovery of platinum. Platinum has such a high melting point that it originally couldn’t be used for much except decoration and display. However, when the jewelry torch was invented it was discovered you could melt platinum and mold it into jewelry, which to this day is still the most popular use of platinum.

When most people or investors think of platinum, the first things they think of are jewelry and the automotive industries, which is correct. However, many people aren’t aware just how popular platinum is, in fact, platinum is found in about 20% of the items and services we use every day. Its factors like this that make platinum a very lucrative futures contract as it can be used as a hedging tool for both producers and consumers alike.

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