Special characteristics
Gold, silver, platinum, and palladium are precious metals. As platinum is more rare than the others, it is considered especially valuable, more so due to the number of industrial uses it is put to. If you wish to know the price of platinum per gram, there are various websites where you can find the current price of such precious metals, which is very useful for investors. Platinum prices can fluctuate with the economic situation. As it is very resistant to oxidation and does not corrode easily, and also as it is a good conductor of electricity, besides being a good catalyzing agent, it is used in many industrial processes, apart from jewelry.
Unpredictable prices
The price of platinum per gram can be rather unpredictable, when compared to other metals such as gold and silver. When there is an economic depression, usually the price of gold increases as it becomes a safe haven for investors. Due to this, the price starts to decrease and comes down to below the gold price. However, when the economy stabilizes, the price of platinum can even go higher than that of gold, and almost doubles that of gold.
The price of platinum can also be given in terms of ounce. But since ounce is not an SI unit, it is better to convert the price into gram units. In order to convert the price into grams, the price should be divided by 28.3495 and you can then obtain the price of platinum. The metal platinum is usually costlier than gold, as it is rare and also very difficult to mine. It is also used in a much higher concentration in jewelry, when compared to gold. Originally, platinum was mixed with a gold alloy in jewelry, but today it is being combined with palladium or indium which belongs to the same group. This helps to retain its whiteness. But palladium being more expensive than gold, this has contributed to increasing the price of platinum per gram when used in jewelry.
Why platinum price is higher
Platinum is also more dense than gold and a ring made of platinum is naturally heavier than the same design made in 18 ct gold. The price of the metal is always calculated in gram weight and hence due to this density, the platinum jewelry becomes more expensive than when 18 ct gold is used. However, the advantage of using platinum is that it has a natural shine which does not need re-plating, whereas white gold needs to be rhodium plated for achieving that brilliant white glow. Platinum also does not wear that easily and does not easily show the signs of wear and tear, and hence is more valuable leading to a higher price of platinum per gram.
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