Although platinum and gold are both strong precious metals, platinum is the more durable of the two. The prongs holding the center gemstone of a platinum ring are much less likely to break compared to those of a gold engagement ring. Despite being more durable, however, platinum will get scratched easier than gold.
The gold quality is determined by the amount of pure gold in the piece. While white gold may seem like a cheaper option for the same look, it is actually a less strong metal than platinum. Platinum will scratch easier as it is a movable metal, but Platinum is stronger against breakage.
White gold is a harder metal than platinum, meaning that it is not as easily scratched or dented. This is because of the white gold alloy, it is gold mixed with harder metals such as palladium, silver or copper.
The only disadvantages to platinum are the higher cost and heavier weight. For example, platinum is a great metal for necklaces, bracelets and rings but not earrings, because the heavy weight may pull down more on your ears and cause discomfort.
RHODIUM: TOP MOST VALUABLE METAL
Rhodium is the most valuable metal and exists within the platinum group of metals.
Platinum lasts longer and can require less upkeep than gold. It's pure, hypoallergenic, and a classic option. However, gold is more malleable, scratch-resistant, and affordable. Gold also comes in several color options whereas platinum is always silver-white colored.
Some investors may want to prioritize stability and long-term investing. In that case, gold is likely the better option. The precious metal has a longstanding history of reliable demand which often spikes during economic downturns. On the other hand, platinum usually performs better during times of economic growth.
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.
Platinum rings are also usually 95% pure platinum, while 18k gold is only 75% gold. Therefore, platinum rings are usually more expensive. Since platinum is the densest and most durable metal, it shouldn't be too surprising that it is also the most expensive.
Resilient, beautiful and pure: platinum is all these, giving it an appeal that jewellery made of gold, silver and diamonds lacks. Platinum withstands daily wear, as it is one of the strongest natural materials. Its jewellery has 95 per cent purity, even when it is set with diamonds.
Platinum differs from gold in that it has a much larger range of industrial uses, meaning its value fluctuates in a way that resembles an industrial metal much more closely than it does a precious one.
Platinum Tends to Have a Poor Resale Value
According to The Economic Times, platinum, in general, has a poor resale value. The main reason is because a relatively small number of people are willing to buy it.
To be considered platinum, a piece must contain 95% or more of the metal, making it one of the purest precious metals you can buy. Over time, platinum will fade in a different way. It won't turn yellow, like yellow gold; but, it will begin to lose its shiny finish and build a natural patina (more on this in a bit).
Approximately 88 tons of platinum are used to make jewelry every year compared to 2,700 tons of gold. Because of its rarity, platinum is valuable and will hold its value as the years pass.
ADVANTAGES OF PLATINUM
Platinum is extremely durable and strong making it ideal for jewellery that's worn on a daily basis. It's highly resistant to stress and withstands both extreme heat and extreme cold, which means platinum jewellery will retain its good looks better than any other metal.
Very selective jewellers are selling platinum in India, hence the buy back policy is not as flexible as in the case of gold. You can exchange it for jewellery only from the same store/brand you originally purchased from. And you will get back only 85% of the value of platinum.
Chlorine can damage and discolor metals (like gold and platinum) and can slowly erode the finish and polish of gemstones.
Can you wear platinum in the shower? A similar scenario to gold, you should refrain from wearing your platinum jewelry in the shower as it will reduce its shine and luster. Water itself will not harm the platinum, but it well affect the overall look of it down the road.
The cool, elegant look of platinum for engagement rings and other jewelry is especially popular today and with good reason: it is the strongest, most pure metal. Platinum is more rare than gold and will last a lifetime, resisting chipping and tarnishing.
On the downside, platinum is very expensive to purchase and repair, and some jewelers cannot even work with the metal because they don't have the equipment, materials, or experience to deal with its unique chemical properties.
Platinum also tends to be easy to sell in the form of bars. Similar to what's normally done with gold bars, platinum bars are typically sold with certificates of authenticity. They'll also likely have the weight and purity engraved into them.
The metal helps to neutralize harmful emissions in vehicles and so tighter emissions legislations and increased popularity of hybrid vehicles only puts a greater squeeze on platinum demand. Global automotive demand for platinum is expected to increase by 10% in 2023 to 3.246 million ounces, according to the WPIC.
The simplest tests are heating and discoloration. If the item is heated, for example, in a Bunsen flame, platinum will be more difficult or impossible to melt and the platinum will not discolour. The effect of acid is another basic test. None of the common acids will attack Pt.
does platinum tarnish? No. Platinum will not change color or fade over time, unlike some other metals. It's naturally white and remains that way.