Platinum is a rare precious metal. Each year, there is more than ten times more gold output compared to platinum production. Platinum is an industrial metal with the highest boiling and melting point of all of the other precious metals that trade on the NYMEX and COMEX futures market. Platinum also has the highest density compared to the other metals. Platinum's density and resistance to heat are higher than rhodium's, which is a byproduct of South African platinum production.
The vast majority of platinum output comes from South Africa each year. Russia is also a