Platinum
Platinum is a member of the platinum group of elements and group 10 of the periodic table of elements. It has six naturally occurring isotopes. It is one of the rarer elements in Earth's crust, with an average abundance of approximately 5 μg/kg. It occurs in some nickel and copper ores along with some native deposits, mostly in South Africa, which accounts for 80% of the world production. Because of its scarcity in Earth's crust, only a few hundred tonnes are produced annually, and given its important uses, it is highly valuable and is a major precious metal commodity.
Platinum as an investment
The price of platinum changes along with its supply and demand; during periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold; whereas, during periods of economic uncertainty, the price of platinum tends to decrease because of reduced demand, falling below the price of gold, partly due to increased gold prices. Platinum price peaked at US$2,252 per troy ounce in March 2008 driven on production concerns (brought about partly due to power delivery problems to South African mines). It subsequently fell to US$774 per troy ounce ($25/g) in November 2008. As of 15 October 2018, the platinum spot price in New York was $845.10 per ounce, compared to $1,222 per ounce for gold and $15.16 per ounce for silver. Platinum is traded in the spot market with the code "XPT". When settled in United States Dollars, the code is "XPTUSD". As of 3/4/2018, the price of platinum has fallen below the price of gold, platinum being valued at US$963 an ounce vis-à-vis gold at US$1322 an ounce, respectively.