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Is Platinum More Expensive Than Gold

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Gold Vs Platinum: Which Is More Expensive

The metal more valuable than gold | Palladium

Colloquially known as earths money, gold remains one of the rarest elements on earth, however, the even-rarer precious metal, platinum, is climbing the ranks as the jewelry-lovers front runner. Gold and platinum have very similar properties durable, resilient and versatile, with white gold and platinum looking alike to the naked eye.

Until 2010, platinum was more expensive than gold, however, the opposite is now true. Currently, an ounce of gold is priced at $1,861.48, compared to an ounce of platinum for $855.35. The cost of gold has increased, from $450 for an ounce in 2005, whereas the cost of platinum hasnt fluctuated.

Despite the pure metal costs, in jewelry terms this may differ for three main reasons: density, purity, and difficulty to work with.

Platinum is more dense than gold, and so more of it is required to make a ring, often making it more expensive than its gold counterpart. As well as this, platinum rings are usually 95% pure platinum, while 14k gold is only 58.5% gold being mixed with cheaper metals reduces the overall cost, thus making platinum more expensive based on purity.

Many of the popular alloys for platinum involve expensive metals, such as iridium or ruthenium, whereas gold is typically alloyed with much less expensive silver and copper, which are also much lighter.

Platinum Vs White Gold: Value

Platinum is traditionally seen as highly valuable and prestigious to have. It has a high price tag and is a durable metal. This means it will retain its value over the years and will still be worth a high cost in the future. Itll remain an impressive piece for years to come.

Due to its purity, platinum needs skilled, masterful jewelers and metalsmiths in order to bring out the best of this precious metal. It takes time and effort to create, from when it is mined to when it is fitted for a diamond. Platinum also requires maintenance over the years which may cost you.

All of these factors taken into consideration make platinum two-and-a-half to five times more valuable than white gold.

White gold is typically less valuable. Its often made with inexpensive materials such as nickel, is commonly mined, and can be made by any number of jewelers. While it is gorgeous, there is less prestige than comes with platinum.

However, higher karat white gold has a higher value than lower karat, so if you want a valuable white gold ring, consider purchasing one fashioned with 18-karat gold.

Which Is Better Platinum Or White Gold

At the end of the day, which is better comes down to personal preference, lifestyle and budget. Someone with an active lifestyle might prefer platinum for its durability. However, with a little extra mindfulness, white gold can easily stand up to regular wear. Perhaps price is at top of mind. In that case, white gold might be the way to go. Whatever you decide, dont be afraid to shop around and ask questions, buying a diamond ring is a big investment so take your time.

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The Purity Of Gold Is Measured In Karats

The karat metric is used to measure the purity or percentage of gold in a particular piece of jewellery. Each karat represents 1/24 part of the whole. Pure gold is said to be 24k because all 24 parts of the whole are pure gold, whereas 18k gold has 18 parts of pure gold and 6 parts of other metals.

Beware not to confuse Karat with a K which is used as a gold purity metric and Carat with a C which is a unit of weight used for diamonds and other precious stones.

Most jewellery has 24k, 18k, 14k or 10k of pure gold in it. Each of these levels of gold purity has specific advantages and disadvantages, which are as follows:

24k gold This is 99% pure gold. It is rarely used in jewellery, because its disadvantages outweigh its advantages.

Advantages: Highest level of purity.

Disadvantages: Soft and easily damaged. Bright orange-yellow colour that doesnt always blend well with other colours. Most expensive.

18k gold 18k gold is composed of 75% gold and 25% other metals, for instance zinc, copper and palladium.

Advantages: Rich yellow colour. Scratch-resistant and durable.

Disadvantages: Slightly malleable, but it is only susceptible to be damaged if the ring is made too thin.

14k gold 14k gold has 58.5% gold and 41.5% other metals.

Advantages: Descent yellow colour. Strong, not easily damaged.

Disadvantages: Colour lacks in richness and saturation. The large percentage of metals other than gold can cause skin irritation.

Advantages: Strong, not easily damaged. Low price.

Platinum Vs White Gold: Purity & Quality/composition

Why is Platinum More Expensive than Gold?

Looking deeper into the quality and composition of platinum engagement rings vs. white gold engagement rings can provide more information when making your big decision.

Platinum

To understand how magnificent platinum is, its important to take a close look at its patina finish. Platinum patina is a divisive topic. Patina is a type of oxidation, and over time the platinum can change its hue slightly and become somewhat less lustrous.

If you prefer your platinum ring shiny and like new, it can easily be polished and revived. Platinum jewelry is usually 95% platinum and 5% other white metals. Since the platinum itself is so valuable, having some of it polished off could somewhat impact the total value of the ring.

White Gold

The composition of white gold tends to be less pure than platinum. Looking deeper into what we explained earlier, white gold is measured in karats.

Karats signify the purity of the gold and, therefore, its value. A ring with a high karat may be purer, but it may be weaker and more susceptible to damage.

24-Karat

There is no 24-karat white gold. This is impossible due to how white gold is made. If youre searching for purity, then yellow gold or platinum are better options.

18-Karat

This is made of 75% gold and 25% other metals. It has a high value but is weaker due to the high gold percentage.

14-Karat

The strongest option, this type of white gold is the cheapest due to its high percentage of other metals 14-Karat white gold is only about 58% gold.

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Why Is Platinum More Expensive Than Gold Jewelry

There are several factors involved in pricing platinum jewelry vs. gold jewelry, from the obvious to the less obvious.

The Metals Price of Platinum vs. Gold

Platinum, as a precious metal, is normally valued much higher in the precious metals commodity market than gold. Whereas historically gold has been valued at considerably less than platinum, for one of the first times in history, platinum is priced lower than gold on the market. As of the date of this post, gold is priced at $1,634.10 per ounce and platinum is priced at $1,602.00 per ounce. This is not usual for the market. Many years ago, the disparity was much more pronounced. Gold was often in the $1,000 range per ounce and platinum was in the $2,000 range. What we are seeing the market today is out-of-the-ordaniry.

Whit this in mind, you would think that gold and platinum jewelry would cost the same. Try to purchase platinum wedding bands vs. white gold wedding bands at any jeweleronline or offline, and you will quickly find that a Platinum ring still cost 2-3 times more than a gold one.

Why the Price Disparity?

But the question must be asked: if the price of gold and the price of platinum are about the same, then why is there still such a difference in cost?

There are several reasons:

Platinum Braided Wedding Band Ring

So the next time you are in the market for that platinum or gold wedding band, which will it be?

Want To Know More About Gold And Platinum Prices

If you want to know more about gold and platinum prices, reach out to Oxford Gold Group by calling one of our experts at and seeing which metal is right for you. Take advantage of the recent economic climate by investing in gold or platinum IRA and take control of your future. When it comes to making investments, time is of the essence, and theres no better time than today.

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Is Platinum More Valuable Than Gold

Platinum is generally valued higher than gold. This is because platinum is rarer than gold, has a higher density and is purer. Platinum rings require more platinum than gold rings require gold, which can increase the overall cost.

While gold can increase in value the higher the karat, platinum is almost always worth more than gold.

Ready To Choose Between Platinum And Gold

Why is Palladium so Expensive? And, why is Platinum so Cheap?

We hope youve found our round-up of platinum versus gold helpful! Remember, theres no right answer to the question of which is best. Instead, think about how you want your jewelry to look and feel. Consider maintenance. And think about the settings for any gemstones.

If you have a skin sensitivity, platinum is the safest option. But if your heart is set on gold, dont despair. Most people with less severe allergies will be able to wear gold of a higher purity without problems.

And if youre thinking about investing in gold and platinum, consider your long and short-term investment goals. Its always sensible to seek professional advice before investing too.

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Looking Ahead: Platinum Prices Are Rising Again

It appears that the downward correction in the platinum market has finally ended. In fact, prices have risen an impressive 100% from their lows. Platinum hit a nadir of $600 per ounce before rebounding in 2021 back to $1,200/oz. This is roughly in line with the average platinum price over the previous 10 years .

Nonetheless, platinum remains significantly below the price of gold. It would have to rally another 50% to catch up with the yellow metal.

Here’s how it may close that gap in the coming years.

Platinum Is A Safe Haven Investment

Like gold and silver, platinum is a safe investment instrument people use to protect their money against inflation or economic downturns.

The reason gold, silver and platinum are used to store value is partly due to the rarity of these metals, but most importantly its because they do not corrode.

Iron for example is terrible as a means to store of value because it is abundant, but also because it rusts away into nothing given enough time.

When stored in the right conditions, a gold or platinum ingot can last for decades without any noticeable degradation. This gives investors peace of mind, since they know can resell the metal at market value at any point in the future.

This phenomenon of using gold and silver as a means to store wealth is ancient, and was independently discovered by nearly every major human society.

While it doesnt have the same history behind it, platinum has now joined silver and gold as a means of storing wealth.

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Is Platinum Due A Rally Maybe Even A 700% One

OK. Here’s where it starts to get interesting. First, courtesy of Nick Laird at goldchartsrus.com, is a chart of the platinum price since 1970. Nick has drawn a green “prediction” band around the price. As you can see, we are at the lower end of the range.

The last time we were in this “buy zone” was the late 1990s, when platinum was $350. It rose over 700% over the next decade.

Is $900 the new $350? A 700% rise from $900 would be very welcome chez Frisby.

Platinum is more expensive than gold, right? Everyone knows that. Well, normally it is. The historical average is that platinum is somewhere around a third more expensive than gold. That isn’t the case now though. Gold, at $1,335 an ounce, is more than 1.4 times as expensive as platinum.

On a relative basis, gold is the most expensive it has ever been, or platinum as cheap as it has been. Here, again courtesy of Mr Laird, are the visuals.

A collapse in the gold price to take this average back to normal levels is possible, but I would say a rise in platinum is the more likely.

Assuming no change in the gold price, a return to the historical average of 1.3 would see platinum rise to more than $1,700. A return to the levels we saw in the 2000s with platinum at more than twice the value of gold would see it north of $2,500.

On a short-term basis, we are entering a seasonally strong time of year for platinum, and most momentum indicators are at extremes, pointing to some kind of relief rally, at least.

Pink Gold Vs Red Gold Vs Rose Gold

Why is Platinum More Expensive than Gold

Pink gold, red gold and rose gold are nearly the same, with slight differences in composition and appearance. They all are made of 75% gold combined with copper and silver alloys. Jewelry vendors and goldsmiths may use the three gold names interchangeably, but rose gold is most common, especially for engagement rings and other fine jewelry. All three golds have a lustrous, pinkish tone, like in this rose gold hidden halo ring from Blue Nile.

Composition Differences of Pink Gold, Red Gold, Rose Gold

18K Pink Gold
22.25% copper2.75% silver

The varying percentage of copper and silver indicates the golds color. For instance, the higher percentage of copper found in red gold makes it a slightly stronger rose color. The copper and silver alloys also strengthen the gold. Pure gold by itself isnt strong enough to form jewelry that can be worn regularly.

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Platinum Wins The Durability Competition

Since platinum is the most durable metal in addition to being the densest, it shouldnt be a surprise that this metal is also the most expensive. Being about 20% denser than white gold, platinum is about two-and-a-half to five times more expensive than white gold. Because its less malleable, platinum is a more difficult material to work, so the cost of labor that goes into molding that piece increases.

Although scratches in rings or jewelry are inevitable, when platinum is scratched, the metal is not lost as it is in white gold. Rather, the color shifts within the ring itself, creating what is known as a patina finish. In some cultures this is actually seen as a beautiful thing, and a symbol for how long you and your paramour have been together. In the U.S., opinions differ from person to person, but some people embrace the platinum patina.

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What Are The Advantages Of Platinum

The main selling-point of platinum is the jaw-dropping fact that every piece of the platinum ever mined could fit into your living room, making it much rarer than gold and silver. Almost 10 times as much gold is mined annually then platinum 1,500 tons versus 160 tons respectively.

Unlike gold or white gold, platinum is a very durable metal, which makes it extremely resistant to corrosion and wear, even without plating, unlike white gold. The ability to withstand wear and tear makes it ideal for everyday jewelry, such as an engagement or wedding ring.

Although similar, there is a discrepancy between the appearance of white gold and platinum bands platinum has a more silver finish, whereas white gold appears grey and sometimes duller. Platinums color will not fade to yellow like white gold and can be shined professionally relatively inexpensively.

Platinum is also considered hypoallergenic. For those with nickel allergies, platinum is a safer option than gold as nickel is often one of the white metals alloyed with yellow gold when producing white gold.

Although platinum is prone to scratches, they can be polished out, although this may make the metal thinner and weaken the prongs. Vintage jewelry-lovers may appreciate the charm of a slightly worn piece for its antique feel.

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Most Valuable Metals In Jewelry: The Top List Of Valuable Metals

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. One of the most prominent examples is the usage of rhodium in catalytic converts for the automotive industry.

In addition to their economic and industrial uses, gold and silver, platinum, and other precious metals are popular for jewelry and art. Precious metals, such as gold and silver, are well known for their use in coinage across the world. And, the third-most common precious metal is that contained within the platinum group which, includes several individual types of metal.

Unknown to most, platinum is an abbreviation on the periodic table which encompasses an entire grouping of precious noble metals the most widely recognized of which being platinum. And, likewise, the description of jewelry almost universally homogenizes the platinum group as, simply, platinum.

This list of the top precious metals in jewelry, however, identifies each of the most valuable metals in the platinum group, individually.

Make Investments With Expert Advice From Goldco

Platinum Is More Rare Than Gold!

If you think youre ready to begin investing in precious metals, whether its gold, silver, palladium, or something else, give the experts at Goldco a call today. Their years of experience in helping investors just like you protect and grow their investments through purchasing precious metals can help you navigate the process with quickness and ease.

Dont miss out on any more potential gains by sitting on the sidelines and wondering what if. Put the power of gold and palladium to work today to help your investment portfolio grow to its maximum potential.

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