Platinum Through The Decades The Highs & The Lows Indias leading B2B gem and jewellery magazine

However, allergies to other metals often mixed with gold are quite common, such as nickel. As a result, thanks to its purity platinum is a much more hypoallergenic metal. Partnering with a financial advisor is the best way to get the most out of your portfolio.

The wearer of a platinum piece will have to decide if they can handle a heavier metal like platinum over a lighter metal like white gold. The best way to test this out is by trying it on to see if it’s too heavy for you or if you don’t mind it. Platinum is the densest precious metal that you can buy, so all of these factors will have to be considered. Once the metals are combined, a white gold piece will then be “rhodium plated” to give it a whiter, shinier finish that needs to be maintained over time. This is what makes a white gold piece look the same as a platinum piece when they are both in new condition.

What is your sentiment on Silver?

Since the second quarter of 2020, silver has been more expensive than gold and platinum. Many investors began buying up this product as the stock market dropped significantly. Most of the gold that is poured into jewelry is heavily recycled.

• And, discover how to find out if your jewelry contains precious metals.
• When it comes to the weight of your piece, gold is lighter and less dense than platinum, so it may prove more comfortable to wear.
• Gold is primarily used as a way to store one’s wealth or savings, whether it is in the form of bullion, jewellery or investment.
• Platinum and gold are two metals that yield significant advantages for investors.

Unlike other precious metals, rhodium is essential in the design of catalytic converters, which are essential for automotive exhaust systems. But, in jewelry, white gold is an alloy of gold and white metal, such as nickel, silver, or palladium. Rhodium is employed in an electroplating process to make the alloy take on a more white color. Platinum and gold are both attractive options when shopping for precious metals. You should choose platinum if you have a higher budget and want a high-quality, low-maintenance metal.

Platinum vs Gold: Appearance

In contrast, while gold initially rose by 3.71% to $1,957 per ounce by January 6th, it then slumped by over 12% and declined to $1,683.85 per ounce on 6th April. Palladium declined by around 4% to $2,244 per ounce by early February. This initial surge in silver and platinum prices caused many analysts to predict that 2021 would be the year for the two white metals, silver and platinum. Platinum was always the topper in the precious metals class right from the 1980s ever since platinum prices have been recorded. Right through 2012, platinum was No.1 and gold, the perennial No.2. It was a spectacular ride for platinum then, from around the 2007 average price of $1,306 per ounce.

Even today, no one can deny the powerful economic impact of these metals. So it’s no wonder if your gaze stalls at either one while choosing a piece of jewelry. Platinum has derived its name from the Spanish word ‘platino’ which means “little silver”.

Price Relativity

Rare metals, like Rhodium and Gold, are so scarce that humans reuse and recycle precious metals and diamonds – constantly. Like rhodium, palladium is used in catalytic converters for automotive exhaust filtration systems. Based on industrial usage, mainly in the automotive industry, the value of gold and platinum have to flip-flopped over the years.

If you’re not married to a white-colored metal, yellow gold is a great option for a number of reasons. It requires less maintenance than other shades and, if you’re shopping for an engagement ring, you can opt for a slightly tinted diamond. Next in line was platinum at over 28% to $1,131.50 per ounce in 2021.

Additionally, when you polish platinum, it smooths the piece rather than thinning the metal which means you can do it as often as you like. Even during the pandemic, gold acted both as an income source of last resort and first as a savings option. Then, while hedging of gold tends to depress the gold price, de-hedging invariably boosts its price. Last, but not least is the fact that yearly gold supply runs into thousands of tonnes.

Platinum vs. Gold: Value

It is an alternative precious metal, used for several purposes in jewelry, one of which being to create a white gold alloy. Rhodium is the most valuable metal and exists within the platinum group of metals. It occurs in the very same ore in which gold and silver exist – only, in smaller quantities. Industrial usage, scarcity, and cost of procurement drive the worldwide demand for metals and, hence, the price of metals on the open market. So the worth of many precious metals fluctuates based on the industry sectors’ needs at any one time.

If you don’t want to invest directly in commodities like gold and platinum, you can invest in companies that operate in the space. For example, miners can provide some level of exposure to the commodities mined by the companies. Platinum usually traded at a higher price than gold from 1987 until September 2008.

How do platinum and gold differ?

Then, platinum had scaled its highest levels of $2,273 per ounce in March 2008. Therefore, platinum became the preferred vehicle which is costly gold or platinum in india for round-tripping replacing gold temporarily. Platinum has gained recognition as a preferred metal in diamond jewellery.

The cost per ounce of platinum and gold is based on pure metals. When we go out to buy jewelry, these metals are usually mixed with other metals and non-metals to make them more durable for everyday wear. Red, pink, and rose golds all have different mixes of copper and silver with the gold to alter the color. This can be a great option if you like the rosey color and want a durable piece of jewelry that’s also affordable. With white gold, you have a rhodium plating that gives it a bright silvery-white color and protects your ring.

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When choosing between platinum and gold, it often comes down to your long-term investment objectives and tolerance for price fluctuations. Truth be told, every investment comes with risks, including the unpredictable nature of the economy itself. Yet, precious metals hold a stability of which almost no other investment can boast.

You also agree to receive e-mail marketing from Oxford Gold, our affiliated companies, and third-party advertisers. To opt-out at any time click here or reply STOP to opt-out of text messages. However, since March 2022, silver prices have continued to return to pre-2020 levels.