The main disadvantages of platinum are its high cost due to rarity and complex processing, its significant weight, making it feel heavy, and its tendency to develop a patina (duller finish) and acquire scratches or "bruises" over time, though it retains its color and metal, unlike gold which loses metal. It can also be harder to work with for jewelers and has lower resale demand than gold.
It's slightly heavier than other types of materials
In fact, platinum is one of the world's densest metals, making it more challenging to work. Because of this weight, you may find that your jewellery feels a bit heavier than similar jewellery items, which are made from less dense metals.
Yes, wearing platinum is good for your health! Platinum is a metal that is non-toxic and does not cause any skin irritation. It is also hypoallergenic, meaning that it is unlikely to cause an allergic reaction. Platinum is also a very strong metal, so it is unlikely to cause any physical damage to your body.
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.
TL;DR: Platinum is rarer than gold but has less of a track record and ``brand recognition'' due to being discovered much later. Ultimately it is the public that pays, so if they don't know about it, the demand isn't there.
If you're looking for a stable, long-term store of value, platinum might not be as predictable as gold. However, if you're willing to take on some risk in exchange for higher potential returns, platinum could be a strong addition to your portfolio.
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.
One of platinum's lesser-known strengths is its ability to retain shape and density despite everyday use. Unlike gold or silver, which tend to thin out and require periodic repair or plating, platinum maintains its form, making it a practical choice for rings, bracelets, and earrings worn daily.
Its dense, durable nature means it doesn't easily react with most chemicals. However, platinum is not completely impervious to damage. Chlorine, in particular, can affect platinum, albeit less severely than sterling silver or gold. Repeated exposure to chlorine can cause platinum to develop a dull appearance over time.
Gold offers stability and liquidity as an investment; platinum, on the other hand, is more volatile and tied to industrial demand. Both attract similar GST and capital gains tax, with hallmarking at 22K/24K for gold and 950 for platinum. Platinum is more durable and scratch-resistant but less liquid than gold.
Best Hypoallergenic Jewelry Metals
The "3-month ring rule" is an outdated marketing tactic from the De Beers diamond company, suggesting you should spend the equivalent of three months' salary on an engagement ring to show commitment, a guideline that evolved from earlier one and two-month suggestions to boost diamond sales in the 1930s and 1980s. While it serves as a simple reference, it's not a real rule and ignores personal finances, with experts recommending basing the decision on affordability, shared goals, and individual preferences rather than this arbitrary financial benchmark.
Incredibly durable and naturally resistant to tarnishing, platinum can handle water better than most metals. Ideal for wedding bands and everyday pieces.
Platinum in astrology is connected to a few lucky planets: Jupiter: In Vedic astrology, Jupiter's metals include gold, tin, and platinum. Jupiter is the planet of growth, wisdom, and good fortune. Wearing platinum is thought to amplify Jupiter's expansive, luck-attracting.
Resale Price - The Numbers. The table shows that gold consistently fetches a higher share of its spot price. Platinum lags behind because its market is less liquid and the resale network is smaller.
950 platinum is the best quality platinum you will find in jewelry. It is a timeless metal that we recommend for all types of jewelry and especially for everyday jewelry such as wedding bands or engagement rings.
Platinum is one of the most durable and hypoallergenic metals used in fine jewelry. It is highly resistant to corrosion and tarnish , making it safe to wear in the shower . However, even platinum can accumulate soap residue over time, so it's still a good idea to remove it occasionally for cleaning.
Elemental platinum is non-toxic and therefore does not have a mechanism of action. Platinum salts act as respiratory or skin irritants. They may also trigger a response similar to an allergic reaction.
Can You Get Platinum or White Gold Wet? Yes, you can get both of these metals wet without worrying they'll be damaged. However, don't expose yourself to harsh chemicals like those in soaps, shampoos, beauty products, or swimming pools.
Coveted for its beauty and rarity, platinum continues to offer similar financial benefits to its more popular precious metals and remains a viable option for today's investors. Although a rare precious metal, platinum plays a pivotal role in multiple industries around the world.
Although it holds a higher value than gold or silver, platinum will last you a lifetime and will not require replacing to maintain its bright lustre. Just a simple polish will retain its shine.
The price of platinum in Australia varies by dealer and product, but you can expect to pay around A$3,700 - A$3,900 for a 1oz bar, with bulk purchases reducing the per-ounce cost, and spot prices around A$112 per gram, though this fluctuates. Always check live pricing from Australian bullion dealers like ABC Bullion, Jaggards, or Guardian Gold for the most current rates.
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).
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.