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Image: Dominik Vanyi on Unsplash
Platinum is used in dentistry, catalytic converters, cellular telephones, and Matt's wedding ring. Carmakers in the '50s spiked demand for the valuable metal and a deep mine can last 30 years.
With 170,000 people working in platinum mining in South Africa, it's a major industry that is hurting right now. With the plague, infrastructure, and political turmoil, demand (and confidence by mine speculators) is down. Electric vehicles don't require catalytic converters. However, don't tell Tesla owners where the real pollution is in manufacturing their software, err, cars.
Platinum Belt is a shinier term than Rust Belt in the US.
XPT/USD will open at 964.750 today.