Speaking for platinum: there’s no platinum ETF, so it is less bubbly. (OTOH, it’s harder to invest in, you need to buy physical coins/bars with high spread or have access to futures markets)

Speaking against platinum:
– coming global recession may reduce the industrial demand even further.
– currently, 60% of demand comes from autocatalysts that capture pollutants in internal combustion engines’ exhausts, mostly in diesels. Short term, it’s bad (auto sales are falling). Medium term, it _may_ be good (growing demand for cars, especially diesels, in emerging markets). Long term, it’s also bad (peak oil, switch to EVs, etc.)

I think that platinum is underpriced compared to gold. During 2000’s, it used to trade at 50% or higher premium compared to gold, and now they are almost even. But maybe it’s gold that is overpriced.