We tend to think that platinum is more expensive than gold, which is why platinum credit cards have a higher status than gold and that is why, in the world of album certification, platinum (one million units sold) ranks higher than gold (half a million units). Gold is also a popular investment choice, with many investors opting for a Gold IRA to diversify their portfolio. Platinum is a less liquid investment market than gold or silver, but high price volatility can generate greater returns for investors. In addition to being an investment product used as a portfolio hedge, platinum is widely used in jewelry and in the industrial and automotive sectors, where it is a key component in catalytic converters used to generate cleaner emissions in vehicles.