Daily Platinum Market Price

The Allure of the Rare and Precious Platinum

Platinum is a precious metal with few natural deposits and thus is naturally scarce due to its high demand in fashion and as a key component in industrial manufacturing. ALLU has handled platinum jewellery for many years, and while it has been overtaken by gold in the precious metals markets, platinum still retains a high value. Here we will compare platinum to gold and briefly introduce platinum jewellery.

What is Platinum?

Platinum is a precious metal with limited production. Platinum is durable with high corrosion resistance, and platinum rings are a popular choice for wedding rings. However, platinum's primary use is not in jewellery but as an important component in various manufactured items and electronics. Platinum is particularly important in the car industry, used in catalytic converters and fuel cells. In the medical industry, capitalizing on its resistance to change within the body, platinum is also used in pacemakers.

Comparing Platinum and Gold

Gold and platinum have many common aspects and are often compared to one another. Both have been prised metals historically, and both are used in modern times in jewellery as well as in industrial products. Both metals are also used as a high-value assets for investment purposes. Platinum is 15-20 times scarcer than gold and has a high market value. Since 2015 gold markets have surpassed platinum in value. Due to platinum's value being tied to its high use in industrial products, it is subject to dramatic changes in price. The decline in the platinum market is often attributed to the global recession, where platinum demand fell as factories closed. Gold rose as platinum fell, accelerating the two markets' divergence. Gold tends to rise when there is market instability and is a generally market-resistant asset. Platinum, unlike gold, is less "recession-proof." Thus, during recessions, most investors favour gold.

Platinum Purity

Typically, platinum accessories use a platinum alloy that is mostly platinum mixed with trace amounts of another metal. One of the most common alloys used in accessories is the 900 pt which contains 90% platinum and 10% palladium. A benefit of alloys is that the combined metal is stronger and thus harder to damage. Another alloy is the 950 pt which is 95% or more pure platinum. According to their international standard, the Platinum Guild International only recognises jewellery consisting of 950 pt platinum alloys as real platinum jewellery. In accordance with this, most high-end jewellery only uses 950 pt alloys. It is also the case that, due to a rise in the price of palladium, the 950 pt alloy is often cheaper than the 900 pt alloy. 100% pure platinum is listed as 999 or 1000 pt, with 999 pt corresponding to a 99.9% purity. 100% pure platinum is thought to be logically impossible, so it is displayed with a small margin of error like this instead. We rarely deal with 999 pt platinum as it is less durable and has a darker, duller appearance.

The Platinum Trailblazer: Cartier

Cartier is a globally prestigious jewellery house. The first platinum accessories from Cartier were released under the third-generation owner of the brand—Louis Cartier. Louis would operate the brand from the late 1800s to the early 1900s. After years of research and development, the platinum processing technique was used in jewellery made in the brand's iconic "garland style." The garland style features extensive openwork in the metals with delicate and graceful designs. The use of highly-moldable platinum helped realize elements of this style, such as representations of delicate flowers or soft ribbons that would have otherwise been difficult to achieve. Platinum's lustre is a perfect complement to diamonds, especially smaller diamonds, and its ability to enhance gemstones has captivated many. The grace and delicacy of Cartier's platinum jewellery have also captured the attention of royalty. The genius of Cartier has been highly praised, even being referred to as "The Jeweller of Kings and The King of Jewellers." At ALLU, we are actively expanding our inventory of platinum jewellery. Our Value Designers at our storefronts can appraise a variety of platinum products. For accessories, we will also consider the product's value in our provided appraisal price. If you have any unused jewellery at home, take advantage of our services and request an appraisal at ALLU today.