What is a Platinum-Group Metal?
At a Glance:
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- Platinum-group metals are a group of six metals with similar qualities and characteristics.
- Platinum-group metals are popular investments because of their rarity and usefulness.
- On this page, learn more about what platinum-group metals are – and why you may invest in them.
What is a Platinum-Group Metal?
Platinum-group metals refer to a group of six precious metals with similar properties. These metals are located in close proximity on the periodic table due to their comparable chemical properties, physical characteristics, and presence in the Earth’s crust.
Platinum and palladium are the most famous platinum-group metals. Both platinum and palladium are popular among precious metal investors. Some platinum-group metals, such as rhodium, are valuable but too scarce and expensive to serve as practical assets for retail investors.
Investors should understand the basics of what makes platinum-group metals unique, since these qualities are what make metals like platinum and palladium worth buying.
On this page, learn what a platinum-group metal is – and whether or not you should consider investing in one.
Platinum-Group Metals List
The platinum group of metals is a list of six precious metals that share similar qualities and occupy the same area on the periodic table.
Here’s a list of the six platinum-group metals:
- Platinum (Pt)
- Palladium (Pd)
- Ruthenium (Ru)
- Rhodium (Rh)
- Osmium (Os)
- Iridium (Ir)
Platinum-group metals may share certain qualities, but they also have several key differences that investors should understand. Most notably, platinum-group metals are often split into two smaller subcategories: palladium-group platinum-group metals and iridium-group platinum-group metals.
Palladium-Group PGMs vs. Iridium-Group PGMs
Platinum-group metals (PGMs) are a group of six precious metals that share qualities and occupy a shared area on the periodic table. However, PGMs are also split into two smaller subcategories, palladium-group PGMs and iridium-group PGMs.
The most common platinum-group precious metals occupy the palladium-group PGM classification. Palladium-group platinum-group metals include rhodium (Rh), platinum (Pt), and palladium (Pd). Iridium-group platinum-group metals include the remainder of the platinum-group metals: osmium (Os), iridium (Ir), and ruthenium (Ru).
Because of their various industrial uses and malleability, platinum and palladium are the two most common platinum-group metals purchased by investors. Rhodium is also occasionally traded in the form of precious metal coins and bars, but iridium-group PGMs like osmium, iridium, and ruthenium are rarely minted into precious metal products for investors.
What Are Platinum-Group Metals Used For?
Platinum-group metals are used in various industries. Platinum and palladium, the two most recognizable platinum-group metals, are primarily used to produce catalytic converters for the automotive sector. Both platinum and palladium are also used in the jewelry, healthcare, solar energy, and electronics industries. Rhodium is also an increasingly popular element used in the production of catalytic converters.
Other PGMs are used as catalysts in chemical processes, components for electronics, and in a number of additional industries.
Platinum-group metals are also commonly traded in the investing sector. Platinum, palladium, and rhodium, the three palladium-group platinum-group precious metals, are the three most commonly traded precious metals among investors. These three metals’ spot prices are tracked publicly, and they’re often traded in the form of refined coins, bars, and rounds.
Investing in Platinum-Group Metals
Platinum-group metals are popular investment assets. While it may be possible to invest in any PGM, only platinum, palladium, and rhodium are commonly minted into investment-grade bullion products. Of these three metals, rhodium is the least common metal used in the production of refined precious metal products.
Because of their industrial usefulness, platinum-group metals can be valuable alternatives to more traditional precious metals like gold and silver. Both platinum and palladium are highly useful to a variety of industries, and their use cases make these two precious metals helpful for investors who want to diversify their portfolios.
Platinum vs. Palladium – What’s the Better Investment?
Platinum and palladium are the two most popular platinum-group metals for investors, but choosing the right one for you can sometimes be tricky. Both precious metals are primarily used in the production of catalytic converters for vehicles, and the automotive sector is becoming an increasingly vital demand driver for platinum and palladium alike.
Prices for platinum and palladium are often relatively close. Because both metals are used by the massive automotive sector, industry leaders often switch from one metal to another when one of them becomes too costly to procure. This results in parity, which describes a market condition where the values of two assets are similar.
Palladium is rarer than platinum, but platinum is used in a wider variety of industries than palladium. Both metals are available in the form of palladium and platinum coins, bars, and rounds, although platinum and palladium products are less common to find on the secondary market than gold or silver coins, bars, or rounds.
Ultimately, the best platinum-group metal for investment depends on your investing goals, personal preferences, and budget. If you’re interested in buying either platinum-group metal, taking a look at the platinum-palladium ratio may help you make a better decision about which metal is worth buying.
About the Platinum-Palladium Ratio
The platinum-palladium ratio describes how many ounces of palladium are required to equal the value of a single ounce of platinum. While platinum and palladium have tended to enjoy relative parity in recent years, the platinum-palladium price gap can change considerably over time.
A platinum-palladium ratio below 1 suggests that palladium is more valuable than platinum, while a ratio above one suggests that platinum is more valuable than palladium. In clearer terms, the platinum-palladium ratio tells investors which of the two platinum-group metals may be undervalued compared to the other.
Platinum-Group Metals vs. Gold and Silver
Platinum-group metals and more popular precious metals like gold and silver are all considered investment-worthy assets. Each type of precious metal comes with its own benefits and drawbacks, though, so it’s important that investors think carefully about their investing goals before deciding how to spend their money.
Gold and silver coins, bars, and rounds are more common than refined platinum-group metals, especially during tight markets characterized by supply shortages. Almost every mint in the world produces gold and silver products for investors, but not all mints and refiners make items out of platinum, palladium, and other platinum-group metals.
On the other hand, the scarcity of platinum, palladium, and rhodium makes them especially attractive to some investors. Additionally, platinum-group metals tend to have more applications in various industries than gold and silver. Platinum and palladium are primarily used in the automotive sector, giving price trends for these precious metals a distinctly industrial driver.
Platinum group metals are also often cheaper than gold, especially when gold hits all-time highs like it did in 2024 and 2025. For investors working on a budget, an ounce of platinum may be quite a bit more attainable than buying an ounce of gold bullion.
Of course, there’s no reason investors need to choose between buying gold and silver or platinum-group metals. Adding a mix of these types of metals to your investing portfolio can be a great way to diversify, which is
Final Thoughts: What is a Platinum-Group Metal?
Platinum-group metals refer to a group of six metals with similar qualities that occupy the same area of the periodic table. The most popular platinum-group metals, platinum, palladium, and rhodium, fall into a subcategory of metals called palladium-group platinum-group metals. These three metals are commonly refined into investment-grade products because of their rarity, beauty, and industrial usefulness.
Shop Hero Bullion for platinum-group metals, including platinum and palladium coins, bars, and rounds from many of the world’s leading mints and refiners.
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About The Author
Michael Roets
Michael Roets is a writer and journalist for Hero Bullion. His work explores precious metals news, guides, and commentary.