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Gold Vs Platinum Price

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 Posted 08/12/2021  11:42 am Show Profile   Bookmark this topic Add howell1018 to your friends list Get a Link to this Message
I know that the price of gold is currently almost double the price of platinum. I've never bought any platinum, but I know historically it usually ran a bit above the price of gold. I think the current situation has existed for a few years now. Any specific reason(s) for the flip flop?
A couple of years ago I even went to have a ring of my wife's sized. While in the store the jeweler said that platinum was more expensive than gold. I told him that in the past that was true but that currently it was the opposite. He refused to believe me.
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 Posted 08/12/2021  1:27 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply
Your recollection is correct. The reason is that while we obsess on this forum over the use of PM's as investment/hedge/aesthetic collectibles, these metals also have an industrial use that often drives the value of the metal. Platinum has been heavily used in the catalytic converters of cars and trucks to help reduce the harmful gas emissions from combustion. Over the past 5 yrs or so, Platinum has been largely supplanted by Palladium. In terms of values, Platinum is down 10% over the last 5 yrs, Palladium is up 275% and Gold up 31%.

Gold is also an industrial metal but it has a long established history as a financial instrument... Platinum less so and as such its fortunes rise and fall more with industrial consumption rather than investor positioning.

Jewelers have a different perspective though and that comes from the ability to work the metal. Most jewelers with repair/light manufacturing ability can fix or adjust gold and silver Jewelry onsite. Platinum is a much harder metal to work and requires specialized equipment so a ring sizing will require a jeweler to send a platinum ring out... For these reasons, PT jewelry is often more expensive to buy and repair than gold regardless of the base price of the metal.
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 Posted 08/12/2021  4:31 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
Platinum is a precious metal but it doesn't interest me nearly as much as gold, due to the grey colour. Since it looks too much like silver, but not as nice as silver, I'd rather have either gold or silver.
Edited by oriole
08/12/2021 5:08 pm
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