What is Platinum Used For?
According to the World Platinum Investment Council over one third of all platinum is estimated to be used for Jewellery purposes, and Jewellery use has been the fastest growing category of demand for the precious metal. Contrast this with gold, for which jewellery use accounts for 60% of total demand. Forty percent of platinum mined is used in the automotive industry. For example, an average petrol engine uses 2-3 grams of platinum group metals in its catalytic converter.
Industrial use accounts for about 21% with the rest of mined platinum being used for investment purposes.