21.01.202112:10 Forex Analysis & Reviews: Space travel and platinum

The World Platinum Investment Council notes the link between space travel and platinum. According to them, if more space travel is planned, there may be a greater need for the white metal.

Back in early 2020, Elon Musk announced that he plans to send humans to Mars this decade. The European Space Agency also wants to see an astronaut on the moon before we enter the 30s.

"Platinum has long ties to space exploration. Platinum catalysts in hydrogen fuel cells were part of a pioneering technology that paved the way for the first moon landing in 1969. Aside from that, platinum was also used in space gateway missions ", the council said.

In line with that, the WPIC mentioned that a platinum-based lunar rover is being developed in partnership with the Japan Aerospace Exploration Agency and Toyota Motor Corporation.

Platinum catalysts have other hydrogen-related applications that could benefit the Artemis program, especially given the recent emphasis on sustainability of human missions to the Moon and Mars.

"For example, there is hope that hydrogen - a vital source of fuel for the space program - can be obtained from lunar water sources through electrolysis. Platinum will be used as a catalyst in proton exchange membrane (PEM) cells that use a polymer electrolyte, one of the two leading electrolysis technologies currently available. "

Therefore, one of the important factors that could increase demand for platinum is the development of environmentally friendly hydrogen technology.

Platinum is an important metal that plays a role in the process of separating water into hydrogen and oxygen.

For many governments, combating climate change has become a top priority. Developing hydrogen as a fuel source is an important, cost-effective option.

So, platinum is likely to attract significant investor interest in 2021.

It also has the advantage of being in the jewelry market.