Platinum Rate Today
Platinum Rate
- 2024-05-11~26670
- 2024-05-10~26400
- 2024-05-09~26260
- 2024-05-08~25790
- 2024-05-07~25790
- 2024-05-06~25450
- 2024-05-05~25600
- 2024-05-04~25600
- 2024-05-03~25650
- 2024-05-02~25620
- 2024-05-01~25030
- 2024-04-30~24570
- 2024-04-29~24570
- 2024-04-28~24620
- 2024-04-27~24620
- 2024-04-26~24620
- 2024-04-25~24090
- 2024-04-24~24420
About Platinum
Platinum Price Today vs. Platinum Price Yesterday
The most popular Platinum rate for trading and futures purposes is normally the 24-carat Platinum with higher purity. Hence, when we talk of Platinum price today in the case of financial markets it refers to 24-carat Platinum . Similarly, when we talk of Platinum rate today for Platinum jewellry, it refers to 22-carat gold, which is normally not traded in financial markets.
Platinum customers can be found in both the retail and business markets. Commercial consumers are businesses that buy platinum to make items like jewelry and catalytic converters that retail customers eventually buy.
Today Platininum Price per gram in India (INR)
| Gram | Platinum Rate Today (₹) | Platinum Rate Yesterday (₹) | Daily Price Change (₹) |
|---|---|---|---|
| 1 gram | 2,667 | 2,640 | 27 |
| 8 gram | 21,336 | 21,120 | 216 |
| 10 gram | 26,670 | 26,400 | 270 |
| 100 gram | 266,700 | 264,000 | 2,700 |
Historical Platinum Rates
| Date | Platinum Rate (per gm) | % Change |
|---|---|---|
| 2024-05-11 | 2667 | 1.02 |
| 2024-05-10 | 2640 | 0.53 |
| 2024-05-09 | 2626 | 0.46 |
| 2024-05-08 | 2579 | 1.34 |
| 2024-05-07 | 2579 | 1.34 |
| 2024-05-06 | 2545 | -0.59 |
| 2024-05-05 | 2560 | 0 |
| 2024-05-04 | 2560 | -0.19 |
| 2024-05-03 | 2565 | 0.12 |
| 2024-05-02 | 2562 | 2.36 |
Uses of Platinum
Platinum is one of the most precious metals bought and sold by individuals as per the platinum rate. The cost of platinum is based on numerous fluctuating factors that affect the live price of platinum. Furthermore, the demand for this metal is rising because its momentum of use by consumers affects the platinum price per kg. Here are the uses of platinum:
● Jewellery Making: Platinum is a highly malleable metal with an inert and ductile nature which makes it ideal for jewellery making. Almost 50% of the extracted platinum is used to make jewellery.
● Catalyst: Platinum is a metal known for its stability and is used as a catalyst in the automotive industry. It is used in cars to make catalytic converters to help convert carbon monoxide to carbon dioxide.
● Electrical components: Platinum is utilised in several electrical and electronic applications due to its excellent electrical conductivity. It is used in spark plugs, electrodes, thermocouples, and electrical contacts.
Difference Between Gold and Platinum
Here are the major differences between gold and platinum:
|
Category |
Gold |
Platinum |
|
Colour |
Yellow |
White |
|
Weight |
Lighter than platinum |
Heavier than gold |
|
Scratches |
Doesn’t easily scratch |
Gets scratched easily |
|
Appearance |
Shorter than platinum |
Longer than gold |
|
Durability |
Lower than platinum |
Higher than gold |
|
Maintenance |
Higher maintenance than platinum |
Lower maintenance than gold |
|
Value |
Less valuable than platinum |
More valuable than gold |
Growth of Platinum in India
India is one of the biggest consumers of gold, along with the resulting pieces of jewellery. Platinum is another precious metal that is used to make jewellery along with gold and silver. The high demand for jewellery has allowed India's platinum industry to grow steadily.
Over the last decade, the demand for platinum has witnessed a 20-25% annual growth and it is now sold at 1,800 retail stores in India from 16 retail stores in 2022. The growth is pegged at the same 20-25% for the next year.
Why is Platinum very expensive?
● Rarity: Platinum is more expensive than other metals as it occurs in smaller quantities in the Earth's crust compared to metals like gold or silver. Its scarcity makes it more valuable and drives up its price.
● Demand: Platinum has applications in various industries such as automotive and chemical. The demand for this in industrial sectors contributes to the platinum price as companies are willing to pay a premium for its unique properties.
● Investment: Similar to gold and silver, investors see platinum as an ideal investment to gain from its rising price over time. Investors and collectors purchase platinum bars and coins, contributing to their demand and price.
How to invest in Platinum in India?
Here is how you can invest in platinum in India based on the platinum price today.
● Physical Platinum: You can buy platinum physically through authorised dealers in the form of bars and coins. However, you should ensure that the platinum is of the purest quality to protect your investment.
● Platinum ETFs: Platinum Exchange Traded Funds trade on various stock exchanges that track platinum prices' performance. You can buy and sell these ETFs by opening a demat account with a quality stockbroker.
● E-Platinum: You can buy platinum online through the e-platinum trading platform launched by the National Spot Exchange.
● Platinum Futures: You can invest in platinum by buying futures contracts from the Multi Commodity Exchange (MCX) or National Commodity and Derivatives Exchange (NCDEX)
FAQ’s
Yes. As numerous external factors affect platinum prices daily, the 1-gram platinum rate changes in real-time. You can look at the platinum price chart that updates in real-time to see the revised prices.
The platinum per gram price does not remain the same as it fluctuates in real time based on certain external factors. If you want to know the current 1 gm platinum price, you can look at the live platinum price table.
Since the platinum price per gram changes constantly, it is important to look at the price in real-time to know the current platinum price. The cost of 1 gram of platinum in rupees is updated in real-time in the above ‘Today Platinum Price per gram in India (INR)’ table.
Determining whether platinum is better than white gold depends on specific preferences and requirements. However, platinum isn’t considered better than white gold as the 1 kg platinum price is higher than white gold with similar durability and usage.
Platinum is a good investment option as it can help diversify the portfolio with high liquidity and limited risk. However, you must understand the investment risks and perform due diligence before investing.
The resale value of platinum entirely depends on the current market conditions and the prevailing price and demand. However, when compared to other metals, the resale value of platinum is lower, and it can be slightly challenging to resell.
Platinum is generally considered to be biologically inert and does not have any known essential biological functions in the human body. While platinum is generally regarded as safe and non-toxic, there are limited studies on the long-term health effects of platinum exposure.
No, similar to the price of other metals such as gold and silver, the 1 gram platinum price changes based on local affective factors such as demand and supply. Hence, the platinum price is different across all Indian cities.
Yes, platinum is generally considered more durable than gold. Platinum is a dense and strong metal, making it highly resistant to scratching, bending, and general wear and tear. It is known for its exceptional durability and ability to retain its shape and lustre over time.
While gold is also a precious metal, platinum is significantly scarce. Platinum is much less common and occurs in smaller quantities in the Earth's crust, making it rarer and more expensive than gold.
Yes. Platinum is cheaper than 24-carat gold, as 24-carat gold is the purest and rarest form of gold.
Yes. Platinum is a metal that keeps its appearance over a longer period than white gold. The main reason is that platinum is a naturally white metal, unlike gold, which is an alloy of gold and other metals. It does not require rhodium plating, which is often applied to white gold to enhance its whiteness.