How Much is Platinum Worth?


Platinum is one of the rarest and most valuable precious metals in the world. It is highly coveted for jewelry, investments, and industrial uses. But how much exactly is platinum worth? What factors determine its value? In this comprehensive guide, we’ll examine what gives platinum its worth, current platinum prices per ounce, how its price compares to gold, investment demand, industrial uses, and outlook for the future.

How Much is Platinum Worth

What Makes Platinum Valuable?

Several key factors contribute to platinum’s worth:


Platinum is extremely rare. It is 30 times rarer than gold. Only around 130 tons are mined yearly globally. Limited platinum supply heightens its value.

Industrial and Jewelry Demand

Platinum demand comes from automotive, chemical, electronics, jewelry and investment sectors. High industrial needs and rising jewelry demand in China/India raise platinum’s worth.

Mining Limitations

More than 70% of platinum supply comes from only two countries – South Africa and Russia. This geographic concentration and depleting reserves limits supply, increasing value.

Hedge Against Volatility

Platinum maintains value during financial volatility unlike currencies. Its prestige and price stability make it a hedge against inflation like gold.

Durability and Prestige

Platinum jewelry has prestige from its purity, shine, durability and density. It holds diamonds better than other metals, adding to its worth for high-end jewelry.

Current Prices – Spot, Futures and Historical

Spot Price

The current platinum spot price as of January 2023 is around $1,100 per troy ounce. This is the live platinum price traders pay in commodity markets.

Futures Prices

NYMEX platinum futures contracts currently trade around $1,120/ounce for January 2023 and go up to $1,160/ounce for December 2023 contracts. Futures indicate markets expect rising platinum prices this year.

Historical Prices

Platinum hit an all-time high of $2,252/ounce in March 2008 but crashed during the financial crisis to under $800. It traded around $1,500 between 2011-2014 before dropping to 10-year lows near $760 recently. It has rebounded above $1,000 since 2021.

How Does Platinum Compare to Gold?

Platinum and gold have similarities, but some key differences affect their value:

  • Rarity – Platinum is 30 times rarer than gold in the earth’s crust giving it higher inherent value.
  • Supply/Demand – Gold supply/demand is more stable compared to platinum’s volatility in recent years impacting relative prices.
  • Industrial Uses – Platinum is heavily used by various industries unlike gold whose demand is dominated by jewelry and investment.
  • Jewelry Popularity – Gold jewelry is culturally more popular especially in Asia. Platinum jewelry has prestige in North America, Europe but not as globally desired.
  • Investment Demand – Gold has historically attracted greater investment demand as a safe haven asset. Platinum is seen more as an industrial commodity.

These factors make gold currently around 15-20% more valuable than platinum. But platinum still maintains a premium price due to its rarity.

Platinum Demand Drivers

Platinum demand over the last decade has been impacted both positively and negatively by various economic trends:

Auto Industry

The automotive industry accounts for around 40% of platinum demand via catalytic converters. Declining auto sales globally from 2018-2020 negatively impacted prices.


Jewelry makes up 30% of demand. Growing platinum jewelry appetite in China and India has uplifted demand.


Platinum coins/bars for individual/institutional investors constitutes around 10% of demand. Holdings in platinum ETFs surged over 2020-2021 increasing investment demand.


Petroleum, chemical and electronics industries use platinum. Reduced economic activity in 2020 lowered industrial demand temporarily.


Automakers have been substituting platinum partially with palladium, which has hurt platinum auto catalyst demand.

Platinum Supply Sources

Platinum supply has high geographic concentration with huge reliance on just two major countries:

  • South Africa – South Africa mines around 70% of the world’s platinum, primarily from the Bushveld Igneous Complex. But reserves are declining. Labor strife and power blackouts often disrupt South African platinum production.
  • Russia – Russia is the second largest platinum producer, mining around 10% of global supply. Norilsk Nickel is the leading Russian mining company for platinum group metals.
  • North America – Remaining platinum comes from North American mines in the Stillwater Complex in Montana as well as Canada and some South American nations like Zimbabwe.

Platinum Price Forecast and Outlook

Analysts expect platinum prices to rise over the next 5 years due to the following positive demand drivers:

  • Tightening emissions standards globally will increase platinum use in auto catalysts.
  • Growing jewelry demand in Asian markets like China and India.
  • Investment demand should remain strong with platinum seen as an undervalued precious metal.
  • Limited new platinum reserves will cap supply growth.

Downside risks include further mine labor disputes in South Africa, global recession reducing auto sales, and substitution away from platinum in some industrial uses.

But overall, fundamentals favor platinum’s price climbing back near its historical highs around $1,500+ in the medium-term.


In summary, platinum derives its high value from its rarity, prestige, and wide applications. Its price fluctuates around $1,100 per ounce currently, about 15-20% less than gold. Key demand drivers are industry needs and jewelry appetite in emerging markets. Tight supplies and upbeat demand outlook point to platinum’s price rising over the next 5 years. It remains one of the most widely coveted and expensive metals in the world.

Leave a Comment

Chicago P.D. Season 11 Episode 1 Release Date, Cast, Preview

Chicago P.D., NBC’s acclaimed police drama, is set to make its mark with the premiere of its 11th season on Wednesday, January 17th at 10 pm Eastern. Dive into the details of the return date, cast shifts, plot twists, and the overall expectations for Season 11. Entitled “Unpacking,” the premiere of Chicago P.D. Season 11

Read More »

Thalapathy 68 Actress

Star actor Vijay’s highly anticipated upcoming film Thalapathy 68, directed by Venkat Prabhu, features an ensemble cast of acclaimed veterans. But who plays the pivotal lead actress role paired beside Ilayathalapathy Vijay himself? Model-turned-actress Meenakshi Chaudhary marks her second Tamil venture through this big-banner opportunity after impressing in debut Kolai earlier this year. Let’s get

Read More »

Kaatera Movie Review

Kannada cinema stalwart Darshan and director Tharun Sudhir re-collaborate for socio-political drama “Kaatera” following their 2019 blockbuster “Roberrt”. Does their latest offering match towering expectations from loyal Darshan devotees? This comprehensive review analyzes the film’s execution and resonance. Hard-Hitting Premise Aligning with Darshan’s Robinhood Persona At its core, “Kaatera” bases itself on a compelling narrative

Read More »

Devil Movie Review

Nandamuri Kalyan Ram is back with an experimental genre pick in “Devil” – an intriguing Telugu period thriller loaded with intelligence intrigue set in the 1940s British India era. Helmed by debutant director Abhishek Nama, does this spy story with ample twists hit the right notes? Let’s break down the pros, cons and overall analysis

Read More »

Vijayakanth Passed Away

The recent passing of veteran Tamil actor and politician, Vijayakant, has created a void in the cultural fabric of Tamil Nadu. Popularly known as ‘Captain’ among adoring fans, Vijayakant crafted an enduring legacy across cinema and public service until his demise on December 28th, 2023 from health issues aged 73. As tributes pour in, this

Read More »

Bank of Dave Movie Review: The Feel-Good Financial Underdog Story

The recent comedy-drama film Bank of Dave tells the unlikely true story of a working-class Burnley businessman who takes on the elite London banking establishment. Starring comedian Rory Kinnear and Bridgerton’s Phoebe Dynevor, it mixes fish-out-of-water humour with timely themes of community and beating the systemic odds. In this in-depth critical review, we’ll break down

Read More »

The Blossoming Rivalry Between Harmanpreet and Healy

Women’s cricket has seen an exciting rivalry between India’s captain, Harmanpreet Kaur and Australia’s leader, Alyssa Healy. With their contrasting styles and a thrilling on-field tussle for supremacy, this battle for dominance will captivate fans in the coming years. Background of the Rival Captains Harmanpreet Kaur Alyssa Healy Despite their differences in background, the two

Read More »

kho gaye hum kahan Netflix Review

The recently released Netflix movie “Kho Gaye Hum Kahan” takes a deep dive into the lives of three young friends as they navigate relationships, careers, and the impact of social media on their lives. With strong performances, relatable characters, and thoughtful commentary on modern issues, this film makes for a highly enjoyable watch. In this

Read More »

How the Red Sea Crisis Might Impact India: Modi Government’s Energy Objectives without Follow-Through

The recent crisis in the Red Sea caused by the conflict between Israel and Hamas in Gaza threatens India’s energy security. This exposes shortcomings in the Modi government’s management of India’s oil imports and energy policy. While the government has set ambitious goals for reducing oil imports and boosting energy security, its follow-through has been

Read More »

Enforcement Directorate Opens Inquiry Into Money Laundering Charges Against Its Officer Ankit Tiwari

The Enforcement Directorate (ED) has opened an investigation into money laundering charges brought against its officer Ankit Tiwari by the Tamil Nadu police. Tiwari was arrested on December 1st after allegedly being caught accepting a bribe from a government employee in Dindigul. The central agency has registered an Enforcement Complaint Information Report (ECIR) against Tiwari,

Read More »

Spreading Joy and Hope with New Year Blessings 2024

A new year brings renewed energy and fresh perspectives. As 2023 ends and 2024 begins, here is sending my warmest new year blessings for joy, success and togetherness in the coming year. Here are 100 New Year blessings for 2024 Reflecting on the Year Gone By As we prepare to welcome 2024, let’s spend some

Read More »

Remembering the Extraordinary Life and Legacy of Mike Nussbaum (1923-2023)

The entertainment world lost an iconic actor and director with the recent passing of Mike Nussbaum at the venerable age of 99. Over his illustrious seven-decade career, Nussbaum left an indelible mark across theatre, film, and television. Though he may not have been a household name, his contributions helped shape the landscape of American performing

Read More »

How Much is Platinum Worth?

Introduction Platinum is one of the rarest and most valuable precious metals in the world. It is highly coveted for jewelry, investments, and industrial uses. But how much exactly is platinum worth? What factors determine its value? In this comprehensive guide, we’ll examine what gives platinum its worth, current platinum prices per ounce, how its

Read More »

60 Christmas Eve Good Morning Wishes

Christmas Eve marks the excited anticipation of Christmas day. Send cheerful Christmas Eve good morning wishes to family and friends to spread holiday cheer. Make Christmas Eve extra festive for loved ones by sharing these good morning greetings full of holiday cheer and Christmas magic!

Read More »

50 Merry Christmas Wishes for Your Girlfriend

Christmas is a magical time to show your girlfriend how much you care. These loving and thoughtful Christmas wishes will help make her holiday extra special. Romantic Christmas Wishes Funny Christmas Wishes Appreciative Christmas Wishes Caring Christmas Wishes Thoughtful Christmas Wishes Sweet Christmas Wishes Christmas Date Ideas Festive Christmas Wishes Loving Christmas Wishes Religious Christmas

Read More »

Dry Day Movie Review (2023): A Well-Meaning But Muddled Message Movie

The recently released Hindi social satire film Dry Day aims to deliver a sobering message about alcoholism and political apathy in small-town India. Backed by a talented cast, does this chaotic comedy hit home or does it get lost in translation? Let’s break down the highs and lows of Dry Day. Overview of the Film’s

Read More »

Vyooham Web Series Review: A Promising Premise Stretched Too Thin

The advent of OTT streaming has allowed more creative freedom for Indian filmmakers to tell stories in new formats like web series. However, the latest Telugu thriller series Vyooham on Amazon Prime Video shows how the web series structure can also have limitations. Compelled to stretch the story across 8 episodes, Vyooham loses steam despite

Read More »

Kourtney Kardashian Net Worth 2023-2024: How the Reality TV Star Amassed Her $70 Million Fortune

Kourtney Kardashian is one of the most famous personalities to come out of the era-defining reality show ‘Keeping Up With the Kardashians’. As the eldest Kardashian sister, she has leveraged her popularity to build a thriving business empire. According to financial estimates, Kourtney Kardashian’s net worth in 2023 stands at an impressive $70 million. Her

Read More »

Prithviraj Sukumaran Wife: All About Supriya Menon and Their Love Story

Prithviraj Sukumaran, one of the leading actors in Malayalam cinema, is married to Supriya Menon, a journalist and producer. Their romantic love story has remained mostly away from the public limelight. This blog post reveals everything about Supriya Menon’s background, how she met Prithviraj Sukumaran, their secret wedding, married life, children, production company, and more.

Read More »

Rebel Moon: A Child of Fire Review Netflix

Rebel Moon: A Child of Fire is the first part of a sci-fi epic saga from director Zack Snyder, based on his original story idea that was once intended to be a Star Wars spin-off1. The movie, which premiered on Netflix on December 21, 2023, follows the adventures of a mysterious outsider who joins forces

Read More »

Introduction to IPOs and Allotment Process | IPO Allotment Status

An initial public offering (IPO) is the process by which a private company offers its shares to the public for the first time. It is a means for a company to raise additional capital by issuing new shares. The company offers its shares for sale through an investment bank that helps determine the initial share

Read More »

What is Necessary for Holistic Development of Personality?

Holistic development of personality is an approach to personal growth that focuses on developing the whole person, not just one aspect or dimension. It involves enhancing the physical, intellectual, social, emotional and spiritual aspects of one’s personality and integrating them into a harmonious and balanced self. Holistic development of personality is important for personal development

Read More »

How Should a Viksit Bharat Look Like in 2047 in Different Aspects?

Viksit Bharat is the vision of the Government of India to make India a developed nation by 2047, the 100th year of its independence. The vision encompasses various aspects of development, such as economic growth, social progress, environmental sustainability, and good governance. In this blog post, I will discuss different aspects of what a Viksit

Read More »

What is Holistic Development of Personality and Why is it Important for Personal Development?

Holistic development of personality is an approach to personal growth that focuses on developing the whole person, not just one aspect or dimension. It involves enhancing the physical, mental, emotional, social, and spiritual aspects of one’s personality and integrating them into a harmonious and balanced self. Holistic development of personality is important for personal development

Read More »

JKBOSE 10th Result 2023 Bi-Annual: How to Check, Download and Other Details

The Jammu and Kashmir Board of School Education (JKBOSE) has declared the result of the Secondary School Examination (Class 10th) bi-annual 2023 for private candidates on December 21, 2023. The result is available on the board’s official website: Students who appeared for the bi-annual exam can check their marks and download their marksheets from

Read More »

Salaar Movie Review: A Mixed Bag of Action and Drama

Salaar is a two-part movie directed by Prashanth Neel, starring Prabhas, Shruti Haasan, and Prithviraj Sukumaran in the lead roles. The first part, titled Salaar: Cease Fire, released on December 22, 2023, and has received mixed reactions from the critics and the audience. The Plot The movie is set in a dystopian world where criminal

Read More »
Thank You