Influencing factors of paper platinum

Paper platinum, paper gold and paper silver are all precious metals, which are closely related in the market safe-haven investment, with the same rising and falling direction, but the difference is in the rising and falling range. The quotation of paper platinum comes from international spot platinum, so analyzing the influencing factors of international spot platinum is to analyze the influencing factors of paper platinum. There are many factors that affect the price of platinum:

(A) market supply and demand

Market output: In nature, the reserves of platinum are less than that of gold. According to incomplete statistics, the total reserves of platinum group mineral resources in the world are about 3 1 10,000 tons. Among them, the total platinum reserves are about 6.5438+0.4 million tons. Although more than 60 countries have discovered and mined platinum ore, its reserves are highly concentrated in South Africa and the former Soviet Union. Among them, the South African (azania) platinum reserves are about 65438+200,000 tons, of which Transvaal platinum mine is the most famous and the largest platinum mine in the world. The reserves of platinum in the former Soviet Union were 1.866 tons. Natural platinum weighing 8-9 kilograms was found in the platinum mine of Ural placer, and natural platinum weighing 427.5 grams was also obtained in the primary mine. Their total reserves account for 98% of the world's total reserves.

The annual output of platinum in the world is only 85 tons, far less than that of gold. Only a few countries in the world produce platinum. South Africa's platinum production accounts for more than 80% of the global total production; Most of the rest are made in Russia. The annual output of platinum in the world is only 5% of that of gold.

Market demand: Platinum has excellent performance and wide applications. In the jewelry industry, it is mainly used as decorations and handicrafts. In the chemical industry, it is used to manufacture advanced chemical containers, platinum crucibles, electrodes and catalysts for accelerating chemical reactions. Platinum-iridium alloy is the material for making fountain pen nib.

Discover applications

People's understanding and utilization of platinum is far behind that of gold, with a history of only about 2000 years. Archaeological data show that in more than 700 BC, the ancient Egyptians were able to process platinum into platinum ornaments with high technical level. Long before Columbus discovered the New World, white gold ornaments were also popular among Indians in Central America. However, people in other areas know nothing about platinum. Until the beginning of16th century, the Spanish colonial empire was gradually formed, and a large number of Spanish adventurers flocked to Africa and America to search for gold and treasures. At that time, when searching for gold in the rivers of Ecuador, it was repeatedly found that there was a white metal mixed with gold, which was actually precious platinum. However, due to the underdeveloped science and low recognition ability at that time, faced with dazzling platinum, those colonial rulers called it "inferior broken silver" and abandoned it.

1748, Antonio Roya, a famous Spanish scientist, discovered silver-white natural platinum in Pinto River Gold Mine. After careful study, he found that natural platinum has very stable chemical properties, excellent ductility, high melting point and high relative density, which is obviously different from metallic silver. As a result, Anthony became the first scholar to study platinum in detail.

1780, a skillful craftsman in Paris made platinum rings, brooches and platinum necklaces for King Louis XVI and Queen of France. Therefore, Louis XVI and his wife became the first recorded people in the world to own platinum ornaments. Since then, the reputation of platinum has greatly improved, and it has leapt above gold ornaments, and it has been favored by the royal family, dignitaries and wealthy businessmen.

Platinum with Different Purities

The hardness of pure platinum is small, so in order to increase the hardness, a certain proportion of precious metals such as palladium, rhodium and iridium must be added. Pt950 contains 5% palladium, rhodium and iridium, and its hardness is still relatively low, so it is generally used in plain platinum jewelry. Pt900 contains 10% palladium, rhodium and iridium, and its hardness is just suitable for inlaying ornaments. Most platinum is made of Pt900; However, a few manufacturers use Pt950 to make platinum rings.

(b) Hedging demand

The situation is turbulent.

Global turmoil will cause market concerns and risk aversion will heat up. Market funds will flow to precious metals investment varieties such as platinum to meet the demand for value preservation. Therefore, turmoil will obviously benefit precious metals such as platinum.

Economic deterioration

The deterioration of the world economy, such as the financial crisis, will also cause market concerns and risk aversion will heat up. Market funds will also flow to precious metals investment varieties such as platinum to meet the needs of newspapers, so economic pessimism will also benefit precious metals such as platinum.

(c) dollars and gold

The impact of the dollar on the gold market is mainly in two aspects. One is that the US dollar is the quoted currency in the international gold market, so it is negatively related to the price of gold. Assuming that the value of the gold price itself has not changed, the price of the gold price will rise if the dollar falls. On the other hand, gold is an alternative investment tool for dollar assets. In fact, in the years before 2005, one of the main factors for the continuous rise of gold prices was the sharp decline of the US dollar for three consecutive years. According to the statistics of the historical data in the past 30 years, the negative correlation between the US dollar and gold is about 80%. From the data of the past ten years, as shown in the following figure, from the correlation chart of the US dollar and gold from 1995 to 2003, it can be seen that the relationship between the US dollar and gold is approaching-1%. Therefore, when we analyze the trend of gold price, the change of US dollar exchange rate is an important reference.