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.
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.
Platinum. Like gold and silver, platinum trades around the clock on global commodities markets. It often tends to fetch a higher price (per troy ounce) than gold during routine periods of market and political stability simply because it's much rarer.
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.
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 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.
Due to positive macroeconomic and fundamental drivers, we expect platinum to be a profitable investment in 2023. Supply-side constraints and consumption supported by increased regulations aiming at reducing pollution in the automotive industry will tighten the market balance of the platinum market.
Platinum is rarer than gold, and its demand is strong across several industries. However, platinum is a highly volatile precious metal that tends to see sharp swings in its prices. Its volatility can create opportunities for profit, but there's always the chance of losing a lot of money.
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.
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.
RHODIUM: TOP MOST VALUABLE METAL
Rhodium is the most valuable metal and exists within the platinum group of metals.
Hallmarked 18 carat white gold has a fineness of 750 parts and 25% of other alloys. For purity of metal, Platinum therefore has a 90/95% fineness compared to 75% fineness of white gold.
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.
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.
Rarity and durability make the true white metal appealing to people searching for understated class. 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.
It is the most durable metal used to make jewellery. 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.
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.
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Some experts say today's high gold prices will continue rising as inflation persists and the economy remains uncertain. For investors looking to take advantage of the ability to diversify with an asset like gold (which may perform well while others in their portfolio fall) now could be a good time.
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 Coins
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.
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.
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.