Platinum Price in New delhi, India

Physical Properties of Platinum

The pure form of platinum is lustrous, malleable and ductile. The silver-white metal is more ductile when compared with silver, gold and copper. The platinum metal is less malleable than gold. It has excellent corrosion resistance and is stable at high temperature. It also has stable electrical properties.

Due to its physical characteristics and chemical stability, platinum has found a place in industrial applications. Its resistance to wear and tarnish has made it suitable for its usage in the making of fine jewellery.

Due to its several useful properties, platinum has found its usage in a wide range of industries.

Platinum is one of the densest metal elements which is almost twice as dense as lead. It is a very stable, good conductor of electricity, thus giving the metal an excellent corrosion resistance property.

Platinum is also malleable (able to be formed without breaking) and ductile (able to be deformed without losing its strength). It is considered a biologically compatible metal due to its non-toxic and stable nature.

Its silvery-white colour resistance to corrosion makes it one of the rarest metals. Yet the metal can dissolve in acids. It is useful for those who have sensitive skin. The best examples of platinum are the Hope Diamond and the Star of Africa.

Difference Between Platinum and Gold

Platinum and Gold are two precious metals when it comes to value and appearance. Both are very good forms of investment, yet there are some notable differences between these two metals. Few are immediately notable and others are surprising.

Colour

Colour is one of the most distinguishable differences between gold and platinum. Platinum is white and the colour of gold is yellow. Yet, gold comes in several shades with white gold being closest to the appearance of platinum.

White gold includes alloys like zinc, nickel, and copper along with a rhodium plating. Platinum will have a 95%-98% of platinum composition with a minimal mix of alloys in it.

The presence of rhodium plating gives white gold a bright silvery-white colour. This plating gives protection to the ornament. Over some time, the rhodium plating will fade and this gives the white gold a more yellowish appearance. If it happens, then the user will have to get it re-plated from the jeweller to restore the white colour. Contrarily, platinum ornaments will never turn yellow as their colour occurs naturally.

Both the colours have a lustrous surface. Yet platinum as a metal maintains a shiny look for a long time compared with white gold. White gold will lose its shine after some years and will require re-polishing and re-plating.

Appearance

White Gold and Platinum appear very similar to each other, yet platinum will retain its appearance for a long time due to its strength and purity. White gold will lose its shine over time and hence it has to be re-polished and re-plated. The work involved with white gold is comparatively more.

Comparatively, yellow gold is better to go for as against white gold for a good number of reasons. Yellow gold requires less maintenance than other shades of gold, especially for an engagement ring.

Different forms of gold like rose, red and pink gold have different percentages of mixes of silver and copper with gold to reach the final colour.

Durability

Though both platinum and gold are strong. Platinum is more durable when compared to yellow metal. Its high density and chemical composition make it last longer. Despite being stronger than the yellow metal – gold, platinum is softer than 14 karat gold. Hence, it scratches faster. However, karat golds (18 karats and 24 karats) are comparatively softer on par with platinum when it comes to scratches.

Maintenance

White gold requires more maintenance work as it has to undergo re-polishing and re-plating every few years to prevent it from turning yellow. The rose gold and yellow gold do require polishing and sometimes re-plating to maintain their appearance. Yet one can stick to home cleaning most of the time.

Like most metals, platinum also tends to scratch and tends to become dull over time. But one can use home cleaning techniques and keep it bright and intact. When one polishes platinum, it smooths the ornament rather than thinning it.

If you are looking for low maintenance, then go for platinum. The order from lowest to highest sustainment are platinum, rose gold, yellow gold, and white gold. So platinum is the lowest maintenance metal and white gold is the highest retainment metal.

Latest Updates on Platinum Price in India

On 15th July 2024 Tumbled Slightly, Remaining The Same As The National Average

India platinum prices today for 10 grams are at Rs. 25,570/- and Rs. 2,55,700/- for 100 grams of platinum. Platinum rates in India today have surged by Rs. 190/- and Rs. 1,900/- per 10 grams and 100 grams respectively. Despite being one of the most rarest and expensive metals in the world, platinum fails to attract jewellery sales as the yellow and white metal articles in India.

India is one of the major countries that deal in precious metal trades and considering the rising employment opportunities in the country and the large urban population, there is a positive appeal for platinum jewellery sales ahead. The ease of doing business, international trade connectivity and rising income generation are some of the strong factors leading to a positive push on platinum prices in India today. However, platinum articles are less attractive to Indians than yellow and white metal ornaments.

Commodity segments are moving in a mixed manner with precious metal trades holding a grip above the previous falls. Investors around the globe would expect the Asian and US market performance to have a major influence on global platinum demand. The US dollar index sustaining the uncertain market pressure, while the interest rate expectations by the US Federal Reserve ahead, might push investors away from safe-haven metal trades this week.

The US Spot Platinum prices today are floating at $ 955.9/- per ounce, a rise of $ 3.9/- since yesterday’s closing. 

- 31 July 2024

Platinum Prices In India Falls; 1-Gram To 100-Gram Of This Pristine Metal Is Down By Rs 5-500

Unlike gold or silver prices in India, the price of glistening platinum was down at retail stores of the country on March 4, 2024, as dollar and bonds refused to budge against bears ahead of economic data that will give a better clarity of the US Federal Reserve’s future rate cuts. Domestic equities also lacked trends for bulls. 1-gram to 100-gram of platinum dipped by Rs 5 to Rs 500 in the country. Generally, platinum is considered a precious metal in line with gold and silver though it has not been found as common as the later ones.

On March 4, 2024, platinum price in India in 10-gram stood at Rs 23,520, down by Rs 50 from Rs 23,570 on March 3, 2024. While 100-gram platinum is available at Rs 2,35,200, lower by Rs 500 from the previous day’s Rs 2,35,700. Moreover, 1-gram of platinum shed Rs 5 to Rs 2,352 on March 4, as against Rs 2,357 on March 3, and 8-gram stood at Rs 18,816 down by Rs 40 from the previous day’s Rs 18,856. These prices are applicable in India’s financial hub Mumbai as well.

The price of 100-gram of platinum stood at Rs 2,35,200 in major cities like Ahmedabad, Bangalore, Bhubaneswar, Chandigarh, Chennai, Delhi, Hyderabad, Jaipur, Kerala, Kolkata, Madurai, Mangalore, Mumbai, Mysore, Nagpur, Nashik, Patna, Surat, Vijayawada, and Vishakapatnam.

The prices were at Rs 2,352 and Rs 23,520 in 1-gram and 10-gram respectively on March 4, 2024.

Year-to-date, the price of platinum has significantly dropped. In the start of January 2024, 1-gram platinum was at Rs 2,660. But in a year, the prices have been broadly volatile. In February, 1-gram Platinum was down by 4.8%, followed by a much higher decline of 7.4% in January 2024. This was compared to a rise of 7.2% seen in December 2023.

Indians have immense love for jewelry as the country is known for its affinity towards gold metal. During earlier days gold and silver were the prominent metals used to craft jewelry pieces. However, in recent times, with the advancement of technology and diversification of the usage of metals, Platinum is making its presence in jewelry markets globally.

According to the World Platinum Investment Council, investors have a broad range of choices to consider when making an investment in platinum, as with gold and silver, depending upon their individual circumstances, location and preferences. These include: direct ownership of platinum bullion (coins, bars); online/digital bullion accounts with fractional ownership; shares in physically-backed platinum exchange-traded funds.

Further, the Council highlighted that platinum is attractive as a long-term store of value.

It can form part of a retirement savings plan, in much the same way as shares in a listed company or an exchange traded fund. There can also be tax benefits from holding certain platinum investments, although this varies depending upon jurisdiction and the tax rules applicable to individual investors or trusts. Sales taxes (Value Added Tax) are applicable for physically-delivered platinum bullion in many jurisdictions.

- 4 March 2024