What is more valuable gold or platinum? Guaranteed, you’re thinking about this question right now. If you’re wondering which has more value gold or platinum, then you’re not the only one. This article explains pretty much all you need to know about this. We cover jewelry, manufacturing, investments, and of course, answer the final question you’re asking here. Keep reading for answer details and more.
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All precious metals are valuable, of course. But a recent trend in the industry has brought the rare metal of platinum to the attention of investors that are looking for the next “big thing”. While gold and silver have been the metals of choice in investing for a while, platinum is making a name for itself beyond jewelry and manufacturing.
- Is platinum a sound investment?
- Is platinum more valuable than gold?
Before you decide on which precious metals are right for your investment and budget, consider this article where we will delve into the question:
Is Platinum More Or Less Valuable Than Gold?
Let’s get down to brass tax starting with jewelry…
Yellow gold has been a popular choice for jewelry for thousands of years not only for its beautiful appearance but because of its high value.
Platinum is more silver or silver-white in appearance but is very popular in bridal jewelry suites because it allows the stones to shine and speak for themselves.
Choosing between these precious metals for your jewelry is obviously subjective and will depend on your personal tastes, however, some of the differences between platinum and gold jewelry you may want to consider include:
- Density – Platinum is denser than gold, meaning that it’s less likely to break.
- Softness – Gold is a soft metal, but platinum is even more delicate. Platinum often requires more cleaning than gold.
- Hypoallergenic quality – Gold will often contain other metals when made into jewelry. Nickel is the most common of the metals that are used and is a common allergen. Platinum is a very pure metal, which means platinum could be a better choice for people who want to avoid allergic reactions from wearing their jewelry.
- Wear and tear – Gold jewelry can lose its luster over time, becoming dull. However, platinum is low maintenance and retains its shine or is easily polished at home.
Precious metals are used beyond jewelry and gold is in high demand in industries such as medical equipment, computers, electronics, and architecture.
Platinum, in contrast, is mainly in demand from the auto industry where manufacturers use platinum for catalytic converters, however, the precious metal is also used for producing nitric acid, silicone, spark plugs, LCDs, dental fillings, and computer hard disks.
Platinum is rarer than gold due to the difficulty in mining. Only a few countries mine platinum (South Africa, Zimbabwe, and Russia), which is deeper in the earth than gold, and in political environments that don’t always allow for mining to meet demands.
While gold and platinum are used in many different industries, the question remains on which of the precious metals makes a better investment.
Gold is the more stable of the two metals, making it a sound investment if you’re looking to invest outside of traditional stocks. Platinum’s price is very volatile because of how susceptible the metal is to the world economy and politics in the countries where it is mined.
Investment advisors often recommend that new investors focus more on gold and silver instead of starting out with platinum. However, investing in platinum could have steep peaks and valleys, meaning an opportunity for a significant gain, as well as the possibility of substantial losses.
Will Platinum Become More Popular Than Gold?
When you see rankings of things, such as how many albums an artist has sold, you’ll notice that platinum is often on top of gold in rank. But, just because platinum is rarer than gold, does it mean that platinum will be more popular than gold?
The answer to that question is likely no, platinum won’t overtake gold as a more popular precious metal. With disruption to the world economy, the price of platinum often falls well below the price of gold. As of May 2022, the World Platinum Investment Council (WPIC) states that worldwide production of platinum is down, mainly due to the conflict in Ukraine.
Final Verdict: Is Platinum More Valuable Than Gold?
Is Platinum More Valuable Than Gold? (Real gold, not fool’s gold!) Unfortunately, the answer to that question is not as simple as it should be.
If you’re an investor looking for an alternative to traditional IRAs and you are choosing between gold or platinum, your safest bet would be to choose gold. Gold is stable and secure for a retirement account, but platinum fluctuates considerably.
If you do really want to consider platinum as an investment, just consult with a financial advisor to make sure you’re making the right choice.
The best decision you can make would be to check out the reviews of the precious metal investment companies featured on the homepage.