The classic article on Platinum which offers a terrific frame of reference that is still relevant today, though published in the November, 1983 National Geographic Magazine, Volume 164, No. 5, is titled "The Miracle Metal Platinum" and was written by Gordon Young. I am in the process of requesting permission from National Geographic to reproduce this very informative perspective.
One quote in this article, on page 686, is particularly noteworthy, and significant: "It (Platinum) is used in the manufacture of perhaps one out of five of today's products." Yes, I have noted in my eBook that Platinum is ubiquitous throughout modern society, and in fact it is also my understanding that somewhere in the manufacturing chain, Platinum is used in a surprising percentage of today's products.
Interestingly, the next paragraph begins, "Fighter planes, missiles and spacecraft need Platinum." And in the following paragraph, "Economically as well as industrially, it is a precious metal, and its price has been far from constant - ranging, in the past few years, from under $300 per troy ounce, to more than $1000. It is our good fortune that it takes only a tiny bit of Platinum to do a giant job."
Two points from those last sentences: a. Yes, it is strategic; b. its price today is still not only within that range, but inflation adjusted, cheaper; and, c. it is true that only a tiny amount is needed in most applications, which as I note in my eBook, means that demand for Platinum is mostly inelastic. Said differently, because the Platinum component of most products is very small and its impact essential, changes in price will not for most uses change its demand.
Anyway, hope I am able to get permission to reprint this article within the PlatinumIsRare.com website!
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