In addition, while platinum is common in the luxury sector, gold settings are more common and produced much much more in general, which can keep the gold setting prices relatively low. Platinum is a naturally white metal, whereas gold is naturally yellow. The historical average is that platinum is somewhere around a third more expensive than gold. And a professional annual cleaning will ensure a platinum piece gleams as bright as ever. Platinum alloys used in jewellery are purer. The first reason behind platinum’s prime price tag has to do with the makeup of the metal, and how much of it is used in jewelry design. In fact platinum could cost you 4 times or more for that lovely precious metal. Currently, gold costs around $1,300 per ounce, while the going price for platinum is $850 per ounce. Due to its rare nature, platinum is historically more expensive than gold, but there are times when the opposite is true. This means its colour will not fade, or lose its lustre over time (which is not the case with white gold). That’s because the rarer a material is, the more expensive it is. To explain this in one other way: 10 grams of 14k gold is going to still be … Anything less should not be considered either pure or hypoallergenic or of substantive quality. Why is Platinum Much More Expensive Than Gold? While both gold and platinum prices have continued to fall so far this year platinum has taken a harder hit making the white metal cheaper than gold. Which Has More Value: Platinum or Titanium? Although both gold and platinum are rare earth metals, platinum is rarer and thus has a higher value. Platinum is far less plentiful than other precious metals, such as gold. While the two metals appear fairly similar to the naked eye, platinum is the pricier of the two. This is due to a number of factors, including its rarity, higher levels of purity when used in jewelry, and the complex level of expertise and tools required when crafting jewelry from platinum. Another reason is because platinum is 60% heavier than 14 Karat gold. A reported 190 metric tons of platinum are mined annually. Aside from assuming that platinum is a superior metal, have you wondered exactly why platinum gets the higher ticket price in the jewelry industry? In terms of straightforward supply and demand, the reason for the price difference between these two becomes quite clear. The main reason for this is that precious metals are priced by weight and platinum is much denser than gold, so any platinum jewellery will weigh more. Here are the facts: Palladium is less expensive than platinum Palladium weighs less than platinum Palladium belongs to the same chemical group as platinum and therefore has similar chemical behaviour Palladium is more difficult to work with in jewelery Platinum and palladium are indeed quite similar. But it is worth the price tag? For this reason, pure gold is mixed in with other metals to give it greater durability. This is a major reason why Platinum settings are more expensive. Join now. An 18ct gold wedding band which weighs 6 gms would weigh 8,5 gms in platinum. Platinum jewellery is made up of 95% pure metal, while gold is usually 75% pure metal. Jenna Clifford. LEARN MORE >> Eternal. Platinum jewelry is more expensive than gold… It’s a well-known fact. Platinum will not reflect daily wear and tear. Why Platinum Jewelry is Expensive? Whether you’re walking down memory lane, the red carpet or the aisle, platinum is the premier precious metal for jewelry of any occasion. Log in. 1. A nugget of platinum - Image by Alchemist-hp at Wikipemedia Commons Platinum is 30 times rarer than gold (certainly rarer than silver), thus more expensive and more desirable. Though it bears a similarity to silver, it is much more expensive. Platinum is better in purity as compared to Gold in the jewellery sector. But this may not readily translate to jewelry and its long-term valuation. Jewelry stores who sell high quality platinum offer 950 Grade (95% pure platinum) jewelry. Weight. Let’s take a look at the various reasons why platinum has historically been held at a higher value than gold. The platinum will contain a higher percentage of fine metal resource. It is about 60% heavier than 14K gold and 40% heavier than 18K gold. The main reasons for this is that platinum is denser than gold. All the world's platinum, melted in a pool, wouldn't reach your ankles. Even while this is so, platinum jewellery is likely to be more expensive that gold jewellery. Typically, you’ll need an accomplished jeweller to work with this metal, and achieve the master-crafted finish you are looking for. The main reason platinum is more expensive is that, even at the same cost, it takes more platinum to make a platinum ring than it takes to make a similar size ring in gold. Platinum is extremely rare. Call us on +2711 523 6600 to speak with us, book an appointment or email [email protected]. That means a gold … Given the density of the metal, these items will be heavier, and feel more substantial, and that matters to many people. Since pure gold is soft in its natural form, it is unsuitable for jewelry design. Although gold has its own ageless appeal, platinum is quickly gaining a prominent place in even the most traditionally-bound households and women with a more urbane outlook have already incorporated platinum jewellery as a piece de resistance in their style statements. And this price tag is one of the reasons why white gold is a popular alternative to platinum jewelry. More precious metal translates to a more expensive piece of jewelry. Given gold’s association with wealth and prosperity, you may well be surprised to learn that platinum jewelry is actually more expensive. Platinum jewelry is more expensive than gold… It’s a well-known fact. Platinum is pure: Platinum is 95-99% pure (the remaining 5 percentage is usually other platinum groups as well). That translates directly into a higher cost. Why buy platinum vs. white gold or sterling silver? But why does this metal cost more than its counterpart? If you want a yellow ring, then yellow gold is the best option. This different combination of metals is how we produce varied shades of gold, such as white, yellow and rose gold. Vintage & Antique Jewelry Periods: An Overview, Hallmark Vocabulary – The Five S’s of Hallmarks. 14K gold is about 58% pure gold, whereas platinum is about 90% platinum. And that costs extra. And is it worth the price? Log in. By the end of the 18th century, platinum was a embodiment of reliability and immutability, which greatly influenced its use in the manufacture of jewelry. White gold generally is. For example, to create a jewelry piece in 14k gold the designer needs 57.5% gold precious metal and 42.5% alloy; to create a jewelry piece in platinum you would need 100% in platinum precious metal. White gold jewelry is composed of gold, alloys, and a rhodium plating which gives it a white look that’s similar to platinum. Given gold’s association with wealth and prosperity, you may well be surprised to learn that platinum jewelry is actually more expensive. Find an answer to your question why is platinum more expensive than gold 1. If you have a 10 kg ingot of gold, then that would be equivalent to 16 kg of platinum. Platinum is the most expensive of the precious metals. Another reason why platinum rings are more valuable than gold is because the metal is much rarer. As such, platinum jewelry costs more than gold, not only because it is 60% heavier (a 10 gram ring vs. a 16 gram ring noted in #1 above), but those grams of precious metal are more pure, and therefore, more valuable and costly in platinum compared to gold. All platinum rings, on the other hand, are 95% pure. Platinum is quite a bit more expensive and may appreciate even more, despite the fact the spot price of gold is currently more expensive than platinum in the commodity market (as of June 2020). In addition, platinum is the most durable metal used in the jewelry industry. Platinum and gold are both precious metals. At the very least, a bet on platinum again becoming more expensive than palladium... and again more expensive than gold, seems likely to pay off eventually. However, if you want a white ring, you can opt for platinum or white gold. Platinum weights 60% more than 14K gold. 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