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 is cold.
Even the definition of its color is unanimous: gray, as its personality that doesn't arouse any emotion and is lacking in passion. Indifference is its strength. Then, we say yes to gold. To white gold, if we want to highlight the diamond, or even pink and yellow gold.
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 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.
If you're specifically wondering, “are platinum coins a good investment?” our answer is still yes. Coins and bullion are excellent options for someone looking to diversify their precious metal portfolio.
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.
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.
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 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.
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.
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 ...
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.
Platinum is expected to trade at 983.38 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1052.22 in 12 months time.
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.
Platinum carries greater volatility than other choices, making it more susceptible to price drops. Meanwhile, gold is relatively stable, but it may not be a strong hedge against inflation over the short term. It ultimately depends on the type of investment strategy you have, your diversification needs and your goals.
Despite being stronger, platinum is also softer than 14k gold. As a result, it scratches faster. However, higher karat golds (18k & 24k) are significantly softer and on par with platinum as far as scratching goes. The most durable of the golds is rose gold due to its high copper content.
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.
Although platinum and gold are both strong precious metals, platinum is the more durable of the two. The prongs holding the center gemstone of a platinum ring are much less likely to break compared to those of a gold engagement ring. Despite being more durable, however, platinum will get scratched easier than gold.
It Brings Financial Prosperity
Dr PR Sundhar Raja, India's No. 1 astro-numerologist and recipient of the 'Excellence in Astrology Award' says, "As per numerology, platinum represents the number 5. Wearing this metal will increase your financial prosperity.
Platinum is a pure metal that doesn't rust because it doesn't contain iron. Platinum doesn't rust, corrode, tarnish, or change color. It's dense, malleable, (moves easily) and at the same time, very strong.
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.
07/29/2023, Saturday, 6:15 am CT. 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.
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.
Due to positive macroeconomic and fundamental drivers, we expect platinum to be a profitable investment in 2023.
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 is also denser than gold, thus heavier.