Yes, 24k gold (pure gold) is generally more expensive per ounce than platinum, though prices fluctuate, with gold often priced significantly higher due to factors like rarity in jewelry, industrial demand, and market dynamics. While platinum is rarer and denser, meaning more is needed for jewelry, gold's strong cultural and investment demand often pushes its price per gram above platinum's, making pure gold the pricier choice in the current market, despite platinum's historical premium.
Platinum is rarer and denser than gold. So you get much more metal in the same weight, so understandably it is more expensive, both per gram and overall. Gold's price varies depending on the karat. 24K is pure gold, so it is the most expensive to purchase.
Yes, platinum is generally more expensive than gold per gram due to its rarity, higher density (meaning more metal by weight), and near-purity (usually 95%), but recent market fluctuations sometimes see gold priced higher, making platinum a potentially better value, especially as gold prices have surged. Platinum's superior hardness and resistance to tarnish also add to its perceived and actual value, despite being harder to work with, say sources on diamondport.com.au and timeandtidewatches.com.
As of early January 2026, the price for 1 kilogram (kg) of platinum fluctuates but is roughly in the range of $69,000 to over $110,000 USD/AUD, depending heavily on the dealer, market spot price ($69,407/oz USD reported by JM Bullion, ~ $2,500 AUD/oz by Guardian Gold as of Dec 2025), premiums, and if buying physical bars, with Australian dealers showing ~AUD $110,000 for 1kg bars.
Gold is generally considered a better investment option for conservative investors due to its stability and liquidity. Platinum is riskier but can help diversify a portfolio.
But why do jewelers not like platinum? The answer lies in its unique properties that make it both a prized and challenging material to work with. Platinum is significantly denser than gold, making it heavier and more difficult to shape. This density also causes tools to wear down faster, increasing costs for jewelers.
Gold Vs Platinum Long-Term Value
Gold also retains its value and is relatively easy to sell, but platinum typically has a higher resell value due to its rarity and resistance to tarnishing. Platinum does not lose any of its metal when scratched; it retains all its weight.
Platinum prices drop due to reduced industrial demand (especially for diesel cars after the VW scandal), a stronger U.S. dollar, general economic slowdowns impacting manufacturing, profit-taking after price rallies, and long-term shifts toward electric vehicles (EVs) reducing catalytic converter needs. While supply constraints exist, weaker industrial outlooks, particularly in auto and chemicals, and increased PGM efficiency (using less platinum) also weigh on prices.
Traditionally, platinum jewelry contained 85 to 95 percent pure platinum alloyed with other precious metals. In recent years, some platinum pieces have been alloyed with a larger percentage of non-precious base metals (like copper and cobalt).
2025, while the all-time low of $562.25 was set on 16.03. 2020. Most analysts predict that the platinum price will rise to $1,770.00 by the end of 2025.
For starters, gold is far more abundant in the earth's crust, making platinum rarer. Whilst 1,500 tons of gold are mined annually, only 160 tons of platinum are extracted. When people ask 'Why is platinum not as popular as gold?,' it's less a question of popularity and more a matter of rarity.
Tarnish and Corrosion Resistance: Unlike silver or some gold alloys, platinum does not tarnish, fade, or corrode over time, keeping its lustrous appearance. Hypoallergenic: Platinum is typically hypoallergenic, making it a great option for people with sensitive skin or allergies to certain metals.
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.
Platinum prices drop due to reduced industrial demand (especially for diesel cars after the VW scandal), a stronger U.S. dollar, general economic slowdowns impacting manufacturing, profit-taking after price rallies, and long-term shifts toward electric vehicles (EVs) reducing catalytic converter needs. While supply constraints exist, weaker industrial outlooks, particularly in auto and chemicals, and increased PGM efficiency (using less platinum) also weigh on prices.
Platinum is a dense, durable, and naturally white metal that is known for its purity and rarity. It is the most expensive metal option for engagement rings due to its high demand and limited supply.
Pure platinum, in its unadulterated form, does not tarnish. So, if your ring is turning black, it might be due to the presence of other metals in an alloyed piece. These metals, when combined with platinum, can react with certain external elements, leading to a change in colour over time.
How to Identify Real Platinum? 4 Expert Tips to Spot Genuine Pieces
No other hidden charges will be deducted from the loan. Our branches accept gold, diamond, and platinum jewelry and watches, as well as selected non-jewelry items such as cellphones and laptop computers.
Extraction is challenging. Platinum is seldom found in isolation - more usually it's found alongside other base metals such as nickel, copper and chrome. Deposits discovered underground must be refined before they can be considered pure; the complexity of this process makes platinum extremely rare.
As of December 2025, the ratio sits at approximately 1.4x. In simple terms, gold is 1.4 times more expensive than platinum. While this spread has narrowed from the extremes of recent years, it is still an anomaly compared to the long-term historical average of near parity (1:1).
The above-ground stockpiles of physical platinum are running dry. In 2024, available reserves sat around 3,828 koz. By 2029, these stockpiles are expected to plummet by 80%, falling to around 731 koz. Anything below 1,000 koz is historically tight.
Which is more valuable gold or platinum? Because platinum rings are heavier, rarer, and more pure than gold, they are more valuable. Even though pure gold may be more expensive per ounce, because platinum is denser, more of it is used when making a ring.
For people with sensitive skin, platinum is a blessing. Most gold jewelry contains alloys like nickel, copper, or zinc, which can cause rashes, itching, or allergic reactions. Platinum, however, is 95% pure, making it one of the safest metals for everyday wear.