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72% of Australians Aren't Interested in Platinum, Palladium and Silver Despite Consistent Gains

12 July 2018

This is the final article in a series of four about Australians investing in precious metals. Check out the first, second, or third articles on our blog.
 
Earlier this week, we looked at survey data that suggested gold was “off the radar” as an investment class. We thought it was shocking when 45% of Australians said they “never thought about” investing in gold. Well, the picture is even more bleak for other precious metals including silver, platinum and palladium with a whopping 72% of Australians saying they’re “not interested”. 
 ABC Survey Other Precious Metals
 
Why does it matter? Well, for starters, in the last two years, palladium has doubled its value. Platinum and silver have shown reasonable gains as well. So why aren’t we seeing palladium getting big coverage in investing chat groups and social media? We think Aussies are ignoring a basic understanding of commodity investing: namely that commodities are consumables.
 
Platinum, palladium and silver have innumerable uses in manufacturing and technology. (Read more about platinum uses and palladium uses.) These metals are used not just in jewellery, but in electrical, industrial and medical applications. As developing countries improve the quality of life and lifespan of their populations is there going to be more or less demand for medical procedures, jewellery and gadgets? We think the answer is obvious.
 
Sure, you can look at the history of platinum and see how at one point, it got so expensive that manufacturers sought cheaper alternatives. That might work in some applications, but if you remember back to high school chemistry, these metals each have unique, inherent properties that simply cannot be replicated or substituted, which is good news for investors.
 
The High Price of Apathy
As a final question in our survey, we asked if people would go to abcbullion.com.au to learn more about gold. Over 70% said “no”. In some ways, that’s very telling. 
 ABC Survey Learn More
In an era when everyone is busier than ever, it’s normal to put blinders on, to try to filter out information, to narrow the focus of our attention. After all, we can’t be across everything that’s happening in every industry, and that’s okay. Just don’t expect to get rich, if you can’t be bothered to be informed.