What is Platinum?
Platinum is one of the most popular and widely used precious metals that make up the Platinum Group Metals (PGM) along with palladium. Although gold and silver usually dominate, platinum is more scarce than both gold and silver.
What is Platinum used for?
The majority of platinum is sourced from South Africa, who has the largest amount of mines and reserves for this precious metal.
Platinum’s popularity derives from its multiple uses both in the domestic and industrial sector. Platinum is popular in the construction of automotive catalytic converters as well as being highly popular jewellery choice.
In fact 68% of the platinum jewellery market is attributed to China and this is expected to rise even further.
Why invest in Platinum?
With global demand growing for platinum, this provides the perfect time to invest. Unlike gold in times of economic stability and certainty platinum is often twice the price of gold. Therefore both platinum and gold work well together in a diversified portfolio, ideally you could invest in platinum and gold.
Over recent years platinum has come to establish itself as the ideal investment for a balanced portfolio. Over the last several years the price of platinum has significantly risen which has lead to many investors allocating a percentage of their portfolio to this rare and lustrous metal.
VAT on Platinum
Platinum unlike gold is subject to VAT at 20%. However with platinum continuing to rise in demand, if you are considering to invest in platinum as a long term investment it is likely you will soon recover your vat and more, thanks to its wide range of uses making it a highly sought after metal.
Delivery and Storage
Platinum is relatively easy to store thanks to its high value to density. If you are considering to invest in platinum and you wish to store your platinum with KK Bullion then please speak to one of our knowledgeable team.
You can call 01202 611061 or email email@example.com.