Price of a rare and precious metal increased 131% in 2021 exceeding even bitcoin

Economy03:25 03.04.2021(updated 03:26 03.04.2021) Short URL

Iridium, one of the rarest precious metals, mined as a by-product of platinum and palladium, surpassed bitcoin in the rate of growth of its value in 2021.

Since the beginning of January, the price of this metal has increased 131%, surpassing bitcoin, which gained 85%, Bloomberg writes.

According to Heraeus Group, the value of iridium recovered after supply interruptions last year and the growing demand for its use in electronic screens.

Thus, iridium, which is also used in spark plugs, increased by up to US $ 6,000 per ounce (R $ 34,200) according to data from the company Johnson Matthey Plc, which makes the value of this metal three times more high than gold.

It is quite difficult to buy this precious metal, as it is not traded on the stock exchange or through funds listed on the exchange.

Investors should contact producers directly and buy ingot iridium or buy it at a higher price.

Investors note that iridium will be used to produce hydrogen, which is gaining popularity as a clean energy source to replace fossil fuels in vehicles.

The increase in the price of iridium has also helped to raise prices for other metals in the platinum group.

Last week, the value of palladium was about 9% below its historical maximum, rhodium reached a record high of US $ 29,800 (R $ 170 thousand) per ounce and ruthenium recovered to its maximum value of almost 13 years.


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