Many people purchase precious metals like platinum as a hedge against inflation which is of real concern right now. During times of economic uncertainty or crisis, precious metals tend to hold their value much better than most fiat currencies.
Platinum is a less expensive alternative to palladium, another precious metal commonly used for industrial applications. Platinum historically trades at a premium to gold, according to CNN Business. Platinum normally costs less than gold. Platinum can easily be bought and sold, making it an extremely liquid asset.
Pure platinum is a lustrous, ductile, and malleable, silver-white metal. Platinum is more ductile than gold, silver or copper, thus being the most ductile of pure metals, but it is less malleable than gold. Its physical characteristics and chemical stability make it useful for industrial applications.
The rarity of platinum is what makes it valuable. Just as in everything else, when there is greater demand compared to supply, the value of object increases. The same can be said for platinum. Compared to many metals, both gold and platinum are rare.
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.
Experts posit that platinum is about 15–20 times scarcer than gold and approximately 60–100 times scarcer than silver, on the basis of annual mine production. Since 2014, platinum prices have fallen lower than gold. Approximately 75% of global platinum is mined in South Africa.
The downside of Platinum is that it tends to lose its high polish and sharp edges fairly quickly. This is not because they are being worn away but, more accurately, they are being moulded like clay around the surface of the ring.
Diamonds are expensive. Diamonds cost more than gold or platinum.
Price. Platinum: Despite being nearly identical in appearance, platinum is more valuable than gold. Platinum's high price point can be attributed to its rarity and density as precious metals are often priced by their weight.
It drives the positive energies of Mercury and Venus, bestowing prosperity and attracting the blessings of God." Platinum is one of the most pure and rare metals on earth.
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.
Platinum is considered a biologically compatible metal because it is non-toxic and stable, so it does not react with, or negatively affect body tissues. Recent research has also shown platinum to inhibit the growth of certain cancerous cells.
This is because platinum provides a sturdy grip for diamonds and gemstones to keep them in place. Unfortunately, when the jewellery is still embedded with stones, it cannot be easily sold. The stones need to be removed to sell the platinum as a scrap precious metal first.
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.
Platinum bullion in the form of coins is fairly easy to sell. This is because the quality and purity of officially minted coins is often guaranteed or clearly documented, especially if you made your purchase from a reputable source.
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.
1. RHODIUM: TOP MOST VALUABLE METAL. Rhodium is the most valuable metal and exists within the platinum group of metals. It is used in jewelry for a final finish on white gold jewelry.
The electronics industry uses platinum for computer hard disks and thermocouples. Platinum is also used to make optical fibres and LCDs, turbine blades, spark plugs, pacemakers and dental fillings. Platinum compounds are important chemotherapy drugs used to treat cancers.
The naming of these celebrations follows the traditions of wedding anniversaries: 25 years is called a Silver Jubilee, 50 years a Golden Jubilee, 60 years a Diamond Jubilee, and 70 years a Platinum Jubilee.
The difference in durability is really no contest between platinum and silver. Silver is a soft metal that wears down quickly and tarnishes easily. One of the biggest advantages of platinum is its high melting point, making it hard enough to not require any alloys.
There are many advantages of wearing platinum for both men and women. Its unique color is perfect for bring out the true brilliance and sparkle of all types of stones including diamonds.
Platinum has excellent resistance to corrosion and is stable at high temperatures. Also, it has stable electrical properties that Platinum is being used in industrial wise as well. However, more importantly, because of its fade-lessness feature as well as its rareness. Platinum is even better to use for making jewelry.
Platinum metal is biologically inert, whereas soluble platinum compounds (e.g., halogenated salts) encountered in occupational settings can cause platinum salt hypersensitivity with symptoms that include bronchitis and asthma after inhalational exposure and contact dermatitis after skin exposure.