Platinum (PLATINUM) perpetual market

Platinum is a rare precious metal, far scarcer in the earth's crust than gold, valued for both industrial use and investment and priced per troy ounce. Its dominant demand driver has historically been the automotive industry, where it is used in catalytic converters that reduce harmful emissions, particularly in diesel engines, so its price is sensitive to vehicle production and emissions regulation. It is also used in jewelry, chemical processing and electronics, and increasingly in hydrogen fuel cells, which many see as a source of future demand. Supply is highly concentrated, with the bulk of mine output coming from South Africa, making the market vulnerable to power shortages and labor disruptions there. Platinum sometimes trades below gold despite being rarer, and the shifting balance between diesel decline, tightening emissions rules and emerging hydrogen applications makes its long-term demand outlook a subject of active debate among investors.