The rarity of platinum, combined with a decline in supply and overwhelming demand, is a formula for a build-up of a “perfect storm”, says independent precious metal consultant Dr David Davis, who says that this will lead to significant upward pressure on the price of platinum, to which investors have already begun to react. Given that platinum plays a critical role in the reduction of global warming and its essential role in diverse industrial and medical applications, global mine supply of the precious metal has grown by a compound annual growth rate (CAGR) of about 1.7% between 1990 and 2020.