Why is platinum costly?

               People love to wear on their body expensive metals such as silver, gold and platinum in the form of ornaments. While silver and gold are common jewellery, platinum is not as common due to its high cost.

               Ancient civilizations of Central and South America have used platinum for centuries. Archaeologists have discovered traces of the element in the gold used by the Ancient Egyptians as early as 1200 BC. However, scientists started to study the element only after European exploration of the Americas began.

               Platinum, a highly valued and desired metal, has a wide range of uses, including jewellery, electrical contacts, pace-makers, drugs and magnets. Platinum tends to be very expensive because of its rarity. Platinum is a silvery white metal. It was once known as ‘white gold’ due to its colour and cost. It is highly resistant to tarnishing and corrosion and is very soft and malleable.

               Though it is rare in the earth’s crust, the earth’s moon and meteorites often contain great deposits of platinum. South Africa is the leading producer of refined platinum. The atomic number of platinum is 78, and its atomic symbol is Pt.

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