Gold Vs Platinum

If one were to think of silver as Gold’s younger brother, then it helps to think of Platinum

as Gold’s older brother. Platinum is currently more expensive than Gold and has traded at a premium level ever since the beginning of 2013. Although the prices are always fluctuating on a monthly basis, historically Platinum has been sold at a higher price. Gold is usually most valuable during economic downturns and fears of inflation, but the industrial uses of Platinum increase its value over gold during times of economic recovery and growth. Indeed, Platinum surpassing the value of Gold can be used as a measure of economic confidence because Gold is primarily a store of value or money rather than having an industrial value. Platinum’s increased value Gold is a signal of a return to a normal economy.

Platinum and Gold are both precious metals that often increase and decrease with each other but they have different sources of demand. Platinum 60% more dense than gold and its higher price can be attributed to the increased cost of working with the metal’s greater density. Its increased density is the reason why Platinum is heavier and stronger than Gold. Platinum is used as an industrial raw material for its non-corrosive properties, and is often used in catalytic converters for cars, as well as for jewelry. Demand for platinum increases as demand for vehicle production increases. Platinum is found in South Africa, Russia, Canada, and other countries and is also used in the fields of aeronautics, dentistry, and weaponry. Gold is mined in South Africa, the United States, Australia, and China. Though Gold does not have as many industrial uses as Platinum, Gold still has industrial uses because of its conductivity that is useful in electronics. Platinum is thirty times more rare than gold. Platinum is more durable because of Gold’s brittle nature. It is also malleable and highly unreactive, which is one of the reasons for the increasing popularity of Platinum wedding rings and its more expensive price. Another reason for the price disparity is that Platinum jewelry is usually 95% pure Platinum, whereas Gold Jewelry is only 58.3% pure Gold.

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