Precious metals are characterized by their rarity and high economic value compared to other metals. Platinum, while having the second-smallest futures market among the five main precious metals traded on exchanges, is still considered a precious metal. Unlike some others, platinum has never been used as a global currency but has gained recognition as a store of value in recent times.
Beyond its precious metal status, platinum belongs to the Platinum Group Metals (PGM) category. While a small portion of PGMs is used in jewelry, their primary application lies in the automotive sector, particularly in catalytic converters that reduce emissions from gasoline and diesel vehicles.
