PT Element

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Platinum element
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Platinum is a noble precious metal element. PT is its chemical symbol and its atomic number is 78 on the periodic table.

Metals, including platinum, are typically defined as malleable or ductile. Meaning they can be hammered into thin sheets and drawn into wires. Metal is more technically defined in physics as a substance capable of conducting electricity at a temperature of absolute zero.

A metal may be a chemical element, such as platinum, iron, copper and gold, or an alloy. Alloys are combinations of metals and other materials. Examples of alloys are: steel - a combination of iron and carbon, bronze - a combination of copper and tin, and brass - a mixture of copper and zinc.

Refined platinum is defined as being noble because it is resistant to chemical action, does not corrode and is not easily attacked by acids. As well as platinum, the other noble metals are ruthenium, rhodium, palladium, silver, osmium, iridium, and gold. Other metals are referred to as being base metals.

Of the noble metals ruthenium, rhodium, palladium, osmium, iridium, and platinum are classed as being in the 'Platinum-Group'. They are all share similar properties and are mined from similar deposits.

As a geologic element platinum is extremely rare. Industrial demand for the production of catalytic converters, fuel cells and electrical contacts is huge. Consequently it is very precious and commands an extremely high price on the commodities markets. Platinum coins and bars are then being considered by some bullion investors as an additional or alternative safe haven, hedge, investment to gold.

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Platinum facts
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Here are ten interesting facts about the PT element:

1. The name for platinum comes from the Spanish word 'platina', meaning 'little silver'.
2. It takes approximately 10 tonnes of ore to achieve one ounce of pure platinum.
3. Platinum is typically ten times rarer than gold.
4. It can take up to six months - from mining to production - to refine one troy ounce
   of platinum.
5. Platinum metal has an extremely high melting point of 1,769°C; a very high temperature
   compared to gold's 1,064°C melting point or silver's 961°C melting point.
   
6. Platinum has one of the highest room-temperature densities of any natural metal, at round 21.45g/cm ³ . By comparison, the density of gold is 19.32g/cm ³ and silver is 10.49g/cm ³ .
7. Platinum is hypoallergenic, meaning it is highly unlikely to produce an allergic reaction.
8. Around 50% of cancer therapy patients currently take drugs containing platinum.
9. Platinum is the traditional UK gift given on 70th wedding anniversaries.
10. Since the turn of the year (2019), the price of platinum has ranged between £607 and
    £700 per ounce.

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