Platinum is a white metal that can be found naturally on our planet. It is rarer than gold and its value and demand have appreciated over the years. Platinum has certain characteristics that are different from gold.
Investing in precious metals like gold and platinum comes with its advantages. They diversify your portfolio, have a long history of value and are accessible. But they involve unique risks and challenges you may not face with more popular investments, such as stocks or bonds.
The price of platinum changes along with its supply and demand; during periods of sustained economic stability and growth, the price of platinum tends to be as much as twice the price of gold; whereas, during periods of economic uncertainty, the price of platinum tends to decrease because of reduced demand, falling ...
Ultimately, both gold and platinum have their unique advantages as investment options. While gold is a traditional safe haven asset with a long history of stability, platinum offers exposure to unique industries and potentially greater returns due to its volatility.
A huge percentage of platinum's industrial demand comes from the motor industry, which uses the metal in catalytic convertors to reduce emissions. The high price of platinum however saw its use decline as manufacturers instead switched to palladium. As a result, the price of platinum fell, while palladium rose.
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.
Platinum is a very dense metal which means it has excellent resistance to wearing away. A wedding ring made in Platinum could be worn for decades and barely lose any thickness at all. The downside of Platinum is that it tends to lose its high polish and sharp edges fairly quickly.
Platinum jewelry is a bit iffy, since it tends to be more difficult to sell. How much you'll get for platinum in this form is often dependent on current market conditions and other economic factors. Plus, platinum jewelry, regardless of market factors, tends to be only worth its refining or smelting value.
While both precious metals are strong, platinum is more durable than gold. Its high density and chemical composition make it less likely to break than gold, so it lasts longer. The chemical structure also means that the metal displaces on the surface when it is hit so you don't lose any of the precious metal.
Due to positive macroeconomic and fundamental drivers, we expect platinum to be a profitable investment in 2023.
Global demand for platinum will see a 28% uptick this year compared to 2022, while supply will decrease 1% year-on-year, the organization said Monday.
Platinum price stood at $971.50 per troy ounce
According to the latest long-term forecast, Platinum price will hit $1,000 by the end of 2023 and then $1,500 by the middle of 2028. Platinum will rise to $2,000 within the year of 2031 and $2,500 in 2034.
Power cuts, war, and hybrid cars are predicted to cause a platinum price surge in 2023. The price of platinum is forecast to surge this year thanks to factors including power cuts in South Africa, the war in Ukraine and the increased production of hybrid cars.
The choice between silver and platinum as an investment depends on numerous factors, including your financial goals, risk tolerance, market conditions, and more. Platinum is often priced higher than gold due to its rarity, but silver is more affordable for investors on a modest budget.
Platinum should last a lifetime and you should not have to reset your platinum engagement ring. Platinum is a naturally white metal that is highly resistant to tarnish. This means it would not have to be re-plated like white gold, but instead an occasional re-polish to maintain its shine.
Why? Because a gold, or platinum—or, better still, multiplatinum—record means financial success. These awards, given by the Recording Industry Association of America (RIAA), represent huge sales—500,000 units for gold, 1 million for platinum, 2 million or more for multiplatinum, and 10 million for diamond.
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.
Durability. 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.
Titanium is stronger and lighter than platinum, making it an ideal choice for pieces that need extra durability, like rings or bracelets; however, due to its rarity, platinum tends to be more expensive than titanium but can still be used in smaller pieces like pendants or earrings without sacrificing comfort or style.
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.
Platinum selling works very similar to any other precious metal. A personal seller needs to have a bit of understanding what's going on with the given metal market before getting started. Like gold or silver, platinum has an investment value as well as an industrial use noted above.
We accept all forms of platinum including platinum bars, platinum coins, platinum crucibles, platinum wire, and all forms of overstock material containing platinum. Request an appraisal kit and send us your old or unwanted platinum for cash today.
Platinum is a quiet luxury, not flashy or obvious. The weight of it makes it feel substantial, but it's preciousness can be your own little secret. Its color, the most neutral of the precious metals, makes it perfect to set off both diamonds and color gemstones.