Platinum Will Become Even More Rare (And Expensive) Due To These 2 Reasons

Compared to other precious metals, Platinum is relatively rare. In fact, it’s mainly mined in South Africa and Russia. However, there are two main events that will cause Platinum to become more rare, resulting in its price to skyrocket!

South Africa In Crisis

Currently, South Africa is experiencing severe electricity shortages, constraints on refining and repeated furnace damage as a result of blackouts. 

To add insult to injury, production costs have increased, thanks to global inflation.

Russia Mining Delays

Russia produces 12% of the global platinum supply, but leading mining operator Nornickel has announced they will likely come short of 2023 production targets.  There are many factors behind this, especially the war in Ukraine.

Despite these events, industrial demand for Platinum continues to increase, which will result in higher prices.

Take Advantage Of This Unique Scenario By Investing In Platinum With A Precious Metals IRA

You don’t have to be an accredited investor to invest in platinum related investments. Self-directed IRAs can make it even easier to do this, with celebrities like former TV personality Bill O'Reilly having this account.

Bill recommends American Hartford Gold, which offers a 100% FREE IRA rollover. This offer also includes FREE storage, maintenance and insurance for 3 years.

Learn more about platinum and some of the top precious metals trading platforms at Benzinga’s precious metals hub page.

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