While both precious metals are strong, platinum is more durable than gold. Its high density and chemical composition make it less likely to break than gold, so it lasts longer. The chemical structure also means that the metal displaces on the surface when it is hit so you don’t lose any of the precious metal.

Why is platinum so valuable?

Platinum is a light gray metal between silver and nickel, and it’s harder than both silver and gold. Platinum is valuable because it’s rare and it’s used in many items. Nearly two thirds of the supply comes from South Africa, and Russia is the second-largest supplier. There are very few North American platinum mines.

Which is more expensive platinum or gold and why?

Platinum and gold are both precious metals. Due to its rare nature, platinum is historically more expensive than gold, but there are times when the opposite is true.

Is it worth it to buy pure platinum?

In fact platinum could cost you 4 times or more for that lovely precious metal. But is it really worth it? Platinum is 95-99% pure (the remaining 5 percentage is usually other platinum groups as well). Unlike the next most popular white metal; white gold.

How much does it cost to produce one ounce of platinum?

Typically, the platinum mining process takes five to seven months and may require as much as 10 tons of ore to yield one ounce of platinum. It costs about $1,800 to produce one ounce of platinum. At its most expensive, the production costs for an ounce of gold is about $957 – nearly half of what platinum costs.

Is the price of platinum going to go down?

The platinum price has fallen so far, it’s hard to see how it can get much lower. Dominic Frisby looks at what it would take to spark a turnaround. Today, we consider the investment case for the precious metal, platinum. I’ve identified platinum as “cheap” on these pages before and that is an adjective that still applies.