A platinum ingot is a solid block of platinum, a precious metal known for its rarity and resistance to corrosion. Platinum is often used in jewelry, electronics, and catalytic converters due to its excellent conductivity and durability. The ingot form allows for easy storage, transport, and further processing into various products. Platinum is typically produced through mining and refining processes, where it is extracted from ores containing other metals. The purity of a platinum ingot is usually measured in parts per thousand, with 950 parts per thousand being common for high-quality jewelry. Its value is influenced by market demand and availability, similar to other precious metals like gold and silver.