Platinum

Platinum
A chemical element, precious metal and commodity used primarily in jewelry, electronics and automobiles. Platinum futures are traded through commodities contracts on the New York Mercantile Exchange (NYMEX), the Chicago Board of Trade (eCBOT) and the Tokyo Commodity Exchange (TOCOM). It is also possible to invest in platinum by purchasing shares of an exchange-traded fund that invests in platinum or in a number of precious metals.

Platinum is much rarer than gold, as the amount of platinum mined each year is only a small fraction of the amount of gold mined each year. Its price is more volatile than gold's, and it has a much lower trading volume on the eCBOT than gold, silver or copper.

Platinum is mined primarily in Russia and secondarily in South Africa. About half of the mined platinum is used in jewelry, where it is desirable because it looks silver in color but does not tarnish, and is stronger and more durable than gold. Platinum is also widely used in the auto industry in catalytic converters and fuel cells. It can sometimes be substituted by the less-expensive metal palladium.


Investment dictionary. . 2012.

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Look at other dictionaries:

  • Platinum — Студийный альбом Майк Олдфилд …   Википедия

  • Platinum — Plat i*num, n. [NL., fr. Sp. platina, from plata silver, LL. plata a thin plate of metal. See {Plate}, and cf. {Platina}.] (Chem.) A metallic element of atomic number 78, one of the noble metals, classed with silver and gold as a precious metal,… …   The Collaborative International Dictionary of English

  • platinum — Symbol: Pt Atomic number: 78 Atomic weight: 195.078 Attractive greyish white metal. When pure, it is malleable and ductile. Does not oxidize in air, insoluble in hydrochloric and nitric acid. Corroded by halogens, cyandies, sulphur and alkalis.… …   Elements of periodic system

  • platinum — plat‧i‧num [ˈplætnəm] noun [uncountable] a silver grey metal used in manufacturing and traded on commodity market S: • a platinum mine • platinum jewellery * * * platinum UK US /ˈplætɪnəm/ US  /ˈplætənəm/ noun [U] …   Financial and business terms

  • Platinum — Platinum, AK U.S. city in Alaska Population (2000): 41 Housing Units (2000): 26 Land area (2000): 44.630629 sq. miles (115.592794 sq. km) Water area (2000): 0.071778 sq. miles (0.185904 sq. km) Total area (2000): 44.702407 sq. miles (115.778698… …   StarDict's U.S. Gazetteer Places

  • Platinum, AK — U.S. city in Alaska Population (2000): 41 Housing Units (2000): 26 Land area (2000): 44.630629 sq. miles (115.592794 sq. km) Water area (2000): 0.071778 sq. miles (0.185904 sq. km) Total area (2000): 44.702407 sq. miles (115.778698 sq. km) FIPS… …   StarDict's U.S. Gazetteer Places

  • platinum — ☆ platinum [plat′ n əm] n. [ModL < Sp platina, dim. of plata, silver < Prov, metal plate, silver bar, silver < VL * plattus, flat: see PLATE] a silver colored, malleable, ductile, metallic chemical element that is highly resistant to… …   English World dictionary

  • platinum — metallic element, Modern Latin, from Sp. platina platinum, dim. of plata silver, from O.Fr. plate or O.Prov. plata sheet of metal (see PLATE (Cf. plate)). The metal looks like silver, and the Spaniards at first thought it an inferior sort of… …   Etymology dictionary

  • platinum — ► NOUN 1) a precious silvery white metallic chemical element used in jewellery and in some electrical and laboratory apparatus. 2) (before another noun ) greyish white or silvery like platinum. ORIGIN Spanish platina, from plata silver …   English terms dictionary

  • Platinum — This article is about the chemical element. For other uses, see Platinum (disambiguation). iridium ← platinum → gold Pd ↑ Pt ↓ Ds …   Wikipedia

  • platinum — /plat n euhm, plat neuhm/, n. 1. Chem. a heavy, grayish white, highly malleable and ductile metallic element, resistant to most chemicals, practically unoxidizable except in the presence of bases, and fusible only at extremely high temperatures:… …   Universalium

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