The abundance of elements in the earth’s crust is often measured in parts per million (ppm). "Platinum Prices vs Gold Prices, All Years." How Precious Metals are Vital to Space Exploration. Platinum … Silver Thursday | The Hunt Brothers Scheme, The Gold Standard Throughout U.S. History. Platinum traditionally traded at a higher price than gold and combined with platinum’s rarity compared with gold, “platinum” as an adjective has come to be associated with a higher level of prestige than gold. BullionByPost. Accessed July 24, 2020. Unlike gold, these metals derive much of their value from industrial uses. Platinum is almost 3 times the rate of white gold. Platinum also costs more than gold, thanks to its robustness and rarity. Its options trading volume is much smaller compared with gold. Accessed July 24, 2020. What are the Top 10 Silver Coins for Investment? However, platinum is considerably rarer than gold and silver, and also has industrial uses. Some investors are comfortable buying what they know, such as Gold or Silver. Platinum Prices vs Gold Prices. Platinum. "Platinum Prices vs Gold Prices, 1 Year." One of the defining characteristics of platinum is that it is a very Precious Metals and Your Purchasing Power, The Importance of Monitoring Precious Metals Prices. Though Platinum does have many industrial and automotive uses, there is also tremendous value in Platinum Bars and Rounds. Here's Why Gold Will Drop Below $1,000 Again, The Commodities You Can Trade on U.S. Why Are Some Coins Auctioned Off for Millions While Others Are Not? Gold pieces lose much more metal content after a re-polishing compared to Platinum. "Platinum Price of Today." Whether you're new to Precious Metals, or just new to APMEX, we're glad you are here. the reason its considered rarer is the fact that there arent as many mines in the world that produce platinum ore. so there isnt as much of it available. This is historically rare and could mean platinum is due for a rebound above gold prices. Compared with platinum, silver is … How Much Gold and Silver Are in an Olympic Medal? Gold and platinum are both precious metals that possess special qualities. Platinum is between 90 - 99% pure whereas 14K white gold is only 58.33% pure gold with the rest being alloys. The rarity of Platinum cannot be overstated because it has a vast array of uses, particularly in industrial use, including catalytic converters, laboratory equipment and even dentistry equipment. Gold and platinum definitely count as contenders for the number one spot. Gold is used in dentistry, as an electrical conductor in computers and other electronic devices, in the aerospace industry, and, most commonly, in jewelry and other artistic applications. Global Investors. Platinum spot prices can be tricky but the market value of this metal tracks as fluidly as Gold or Silver. Platinum is used as an industrial catalyst in production of nitric acid, silicone and benzene. It also is used in medical devices such as pacemakers and in jewelry. Each day, buyers and sellers trade huge volumes of gold on world markets. How are Coin Designs Chosen for the America the Beautiful Coins? Over the course of history, there have been times when gold has traded at a premium to platinum and vice versa. What is Tamper Proof or Tamper Evident Coin Packaging? Making the Right Choice For You, Why are Prices Higher on Paper Currency Products than Bullion. Here is how they compare on a … The main reason platinum is more expensive is that, even at the same cost, it takes more platinum to make a platinum ring than it takes to make a similar size ring in gold. Because of the difference in liquidity, platinum is more susceptible to price spikes than gold is., Platinum and gold tend to move in the same direction, along with other precious metals. "Platinum as an Investment." Rarity : Platinum is almost 30 times rarer than gold. White gold isn't rare since its base (yellow gold) isn't very rare. Gold is the granddaddy of precious metals, at least from an investment perspective. How Do I Start a Collection of Modern Collectibles? Platinum is a very dense but incredibly malleable metal. Compared to most metals, both platinum and gold are rare. Ten tons of platinum ore is required to process a single ounce of pure platinum. Platinum mining in South Africa, or mining for Platinum Group Metals (PGM), is widespread on the African continent. Yellow gold causes any diamond mounted in it to look a bit yellowish, so while this metal is a good choice for slightly tinted diamonds of lower color grades, it does not provide the best setting if you want to show off your colorless brilliant. Platinum ... compared … Silver and palladium are surging, too. Platinum is much rarer than both Gold and Silver — so rare, in fact, that all of the Platinum ever mined could potentially fit into your home. The majority of platinum production comes from two countries: South Africa and Russia.. Gold is mainly produced in three countries, China, Australia, and Russia. In the same year, about 190 tons of platinum was mined globally. Accessed July 24, 2020. Accessed July 24, 2020. How Household Items Can Ruin Your Precious Metals, A History of U.S. Mint Production Technology, Coins and Currency of the American Civil War, Precious Metals and Ancient Civilizations, The Story of the Pre-1933 Gold Double Eagle Coins, History of the Silver American Eagle Design. As of July 20, 2020, gold was trading at $1,851 an ounce compared with $957.40 an ounce for platinum. Platinum is used in jewelry, particularly engagement and wedding rings, as well as by the automotive, chemical, electronics, and healthcare industries. The most expensive are at once very rare and very useful. What is the Difference Between a Coin and a Round? He holds a Bachelor's degree from the State University of New York, Albany. Platinum is costly other than gold. Coin Grading: Grade Can Help Determine Coin Value, Release Order and Mintages for America the Beautiful Quarters, Collectible Disney Coins From the New Zealand Mint, Beauty & Ballet: Russian Ballerina Palladium Coins, Royal Canadian Mint’s Bullion DNA Program, The Post War Coin: 1922 Peace Silver Dollar, The Greatest Silver Dollar Hoard in History, How President Roosevelt Changed U.S. Gold Coins. Each metal has different trading characteristics. Andrew Hecht is an expert in commodities trading, with 30+ years of experience on Wall Street. It has important industrial applications, including in catalytic converters for cars and turbine engines for planes. If you have a 10 kg ingot of gold, then that would be equivalent to 16 kg of platinum. There are multiple reasons why platinum is more valuable than gold. What are High Relief and Ultra High Relief Coins? Why PCGS and NGC-Graded Coins Can Be Good Investments, Precious Metals Investing Vs Stock Market Investing, Why Silver Can Be a Good Place to Start Investing, How Gold and Silver Values Stack Up Against Traditional Currency, Reasons Why People Invest In Precious Metals, Five Things To Know Before Buying Gold at Pawn Shops, How Silver Uses Affect the Silver Price Today. Everyone agrees that "gold" is rare. Therefore a Platinum jewel can be re-polished much more safely than a gold piece. Both gold and platinum are shown in U.S. dollars per troy ounce. "Welcome to COMEX Gold Futures." Backwardation and Contango: Definition and Explanation. In 2018, 3,332 tons of gold was mined globally. Here is how they compare on a … There are multiple reasons why platinum is more valuable than gold. Market Loss Policy | Despite the higher cost per gram, Platinum being 1/3rd heavier retains its higher price for our finished rings. The most important futures exchanges for platinum are the NYMEX division of CME Group in New York and the Tokyo Commodity Exchange. Gold, at $1,335 an ounce, is more than 1.4 times as expensive as platinum. Compared with gold, the average concentration of carbon in Earth's crust is approximately 200,000 parts per billion, according to "Fluids … The price differential between the two represents the supply and demand and economic issues that affect the two metals independently, including platinum's importance in the automobile industry and gold's status as a refuge during economic downturns.. "Top 10 Gold Producing Countries." Similar to gold and silver, platinum is purchased and sold as a commodity all across the globe. What are the Top 10 Platinum Coins for Investment? How to Monitor the Effect of Futures in ETFs to Improve Assets, Discover Different Trading Commodity Spreads, Platinum Prices vs Gold Prices, All Years. Another reason is because platinum is 60% heavier than 14 Karat gold. To put it in perspective, each year there is fifteen times more gold mined than platinum… The price differential between gold and platinum is an inter-commodity spread. APMEX recommends discussing the pros and cons of investing with a financial adviser or professional. Gold is the granddaddy of precious metals, at least from an investment perspective. The 1909-S VDB Lincoln Cent – The King of Lincoln Cents, The 1916-D Mercury Dime – A Very Dangerous Dime, The 1937-D 3-Legged Buffalo Nickel – A Small Error in Very Large Demand. How rare is platinum? If gold’s special place in history as a store of value is helping to drive the demand that is pushing prices higher, it is understandable why platinum has been lagging of late as compared to gold. But platinum prices are down almost 15% year-to-date. Platinum is said to be 35 times rarer than gold. Factors that Influence the Precious Metals Market, How the U.S. Dollar Influences Precious Metals Prices, How to Get the Most for Your Money When Buying Precious Metals. Since January 2015, gold has consistently traded at a premium to platinum. Therefore, platinum rings are more expensive. Like silver, platinum offers some of the same physical benefits as gold.

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