Platinum and palladium - the 'other' precious metals

While gold continues on its bull rull, platinum and palladium have been underperforming. Martin Spring examines why, where their markets may be going, and how to invest in them.

As a South African I have long had a particular interest in platinum, even in 1988 prematurely launching the world's first newsletter devoted to investing in it, with an annual subscription that was uniquely priced at one ounce of the metal.

Platinum is much rarer than gold or silver, with characteristics that favour its use in industry in an age increasingly concerned about protecting the environment. Half of world demand is for use in autocatalysts, where it destroys gaseous pollutants in vehicle exhaust fumes.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Swipe to scroll horizontally
Row 0 - Cell 0 PlatinumPalladium
SupplyTroy ounces (000s)Row 1 - Cell 2 Troy ounces (000s)Row 1 - Cell 4
South Africa4,6964,671-1%2,2982,3663%
Russia8348350%2,7322,712-1%
Canada & US28134222%8899082%
Zimbabwe13918029%11114026%
Total mine supply6,0266,1512%6,1726,3813%
Autocatalyst scrap73699836%4021,184195%
Jewellery scrap168910442%39195400%
Total supply6,9298,05916%6,6147,75917%
DemandRow 10 - Cell 1 Row 10 - Cell 2 Row 10 - Cell 3 Row 10 - Cell 4 Row 10 - Cell 5 Row 10 - Cell 6
Autocatalysts3,1663,81420%4,1154,4167%
Jewellery2,8311,646-42%3861,301237%
Electronics33537813%10151,34733%
Chemicals3353463%25538551%
DentalRow 15 - Cell 1 Row 15 - Cell 2 Row 15 - Cell 3 796776-3%
Other industrial9751,15719%9591-4%
Retail investment84525550%558453%
Total demand7,6507,7942%6,7188,39925%
Surplus/deficit-721265Row 19 - Cell 3 -104-640Row 19 - Cell 6
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.