The history of mankind is firmly connected with gold (Au): it has always been a measure of value, a source of wealth, and a reason for war. Platinum (Pt, a shiny, grayish-white metal) has never attracted much interest until its outstanding physical and chemical properties were established and its membership in the group of precious metals was determined.
It was then that platinum began to be used as a jewelry metal. It began to compete in popularity and price with gold. What is more expensive gold or platinum today?
The eternal value of gold. Platinum - the underrated queen of precious metals
Gold has been used since ancient times. This metal has properties that distinguish it favorably from other valuable metals:
- unusual characteristics: softness, high thermal and electrical conductivity, corrosion resistance, conditional inertness;
- divisibility: in many cases, materials lose value when small parts are separated from the whole, gold is superior to them, since it does not become cheaper if its mass decreases;
- price stability: over the centuries, the metal has only increased in value;
- reliability of capital.
Gold and platinum 999.9
Today the yellow metal is mined with high intensity - the annual volume of world gold is more than 2.7 thousand tons. The amount of platinum in the world is not so large; it is not found in nature everywhere, like Au, but in the territory of some countries: Russia, China, USA, Canada, Zimbabwe and South Africa. The annual volume of mined platinum is only 200 tons. This material has no less noble appearance than gold. Characterized by properties:
- the color is grayish, many people think that the metal resembles silver, but this is not entirely true, argentum is lighter;
- extreme resistance to high temperatures, which affects fusibility;
- high density makes platinum weigh more than gold;
- average hardness (3.5 Mohs);
- moderate resistance to chemical attack.
Table: comparison of gold and platinum
Valuable metals have advantages and disadvantages. Comparing them, it is difficult to unequivocally answer the question of which is better: platinum or gold. Each option outperforms its competitors in one way or another.
Five-gram bars of gold and platinum
To determine for yourself which metal is more suitable for a particular purpose, you need to make a comparison:
| Gold | Platinum | |
| Density, g/cm3 | 19,32 | 21,45 |
| Thermal conductivity, W/(m*K) | 318 | 71,6 |
| Mohs hardness | 2,5 | 3,5 |
| Melting point, °C | 1064,43 | 1768,3 |
| Resistance to mechanical damage | Low | High |
| Duration of service | Short-lived | Almost limitless |
| Color | Yellow, green, purple, black, red, pink, blue, cyan - the shades depend on the composition, which changes often and quite easily | Gray-white |
| Compatibility | Natural, artificial stones | Only natural, most valuable stones (diamonds, etc.) |
| Annual volume of mined metal, tons | 2700 | 200 |
| Compound | A large number of impurities, which are base metals | Virtually no alloy, and the one used is also highly valued (ruthenium, iridium, palladium) |
| Complexity of production | Moderate | High |
| Samples | There are a large number of samples: 375, 500, 583, 585, 750, 958, 999 | There are 4 types of stamps: 850, 900, 950, 990 |
| Situation in the economic market | Stable | Unstable |
| price, rub. | 4195 | 2447 |
| Resources spent on the production of valuable metal, tons of ore | 3 | 10 |
Notable nuances
How much more expensive is platinum than gold? This is a rather interesting question, the answer to it depends on many factors. For example, sometimes about 5% of this substance is added to the noble metal. Thanks to this solution, gold becomes white.
A similar composition refers to the 950 sample. It is highly valued and also extremely durable. When metal is mined, platinum group metals are simultaneously extracted from it. These include substances such as palladium, iridium, osmium, ruthenium and others.
At the moment, platinum jewelry is considered to be those that are the most reliable. They give confidence and speak of good taste.
Accordingly, platinum is often used as a setting for diamonds. Due to this, the play of stones becomes simply magnificent. All the advantages of this metal are combined with the most important disadvantage. We are talking about a high price. A product made of platinum has no alternative both in terms of strength and beauty, and accordingly, the financial side leaves much to be desired.
Formation of the price of gold and platinum on the world market
Au constitutes the country's foreign exchange and gold reserves, which is due to its excellent properties as a valuable metal and stability, which has not been violated for many centuries. The cost of this and other precious materials is determined by factors:
- amount of metal in nature;
- the complexity of the manufacturing technology: for example, gold most often needs to be extracted from ore, and platinum also requires additional costs to create special conditions to melt the metal;
- the volume of associated ore that rises to the surface along with the precious metal (gold requires lower costs);
- demand in jewelry and other industries: both metals are in the same position, because they are in demand and are used for different purposes;
- physical properties: density, fusibility, hardness, which affects metal processing;
- stability: gold maintains its position even during a crisis, while platinum has fallen in price over the past decades by almost 2 times.
Rating of metals for investment
Considering how the cost of precious metals is formed (see above), it becomes clear that the market price is not always influenced by the properties of the material alone. Many banks (Sberbank, VTB, Gazprombank, etc.) offer several investment options. Metals available for investment, by level of popularity:
- silver is several percent ahead of gold, it is a cheap metal, but due to high volatility it is in demand, because the price is constantly changing, sometimes quite sharply, the material is lighter and softer than platinum;
- gold is another popular type of precious metal, but it cannot be compared with silver in cost and stability (Au is more valuable), in many qualities the gold alloy is on the same level as Pt, it surpasses this material in popularity due to the fact that it has long been known, investors give it more trust;
- platinum - is in third place in the ranking of precious metals for investment, but is unlikely to catch up with gold, because in some properties it does not reach the level of the material that should constitute a gold reserve;
- palladium: found in large quantities in nature, although it was discovered relatively recently, it has already become widely known.
Platinum is often used for the production of counterfeits, which negatively affects the reputation of the metal and its rating as a precious metal. This is because Pt's gray color makes it resemble steel.
Methods of investing in metal
Both materials (gold, its white counterpart - platinum) may be of interest when choosing an investment instrument. To decide which method is suitable, you must first explore all the available options:
- purchase of physical precious metal;
- Compulsory medical insurance;
- shares of companies mining gold or platinum.
Buying bars and coins, jewelry
Existing ways to invest in physical precious metals:
- ingots;
- coins;
- decorations.
Of all the methods, the first option is preferable, since it allows you to save money, and with the right approach, increase it. But not everyone is ready to wait for the right moment to make money by changing the exchange rate when selling such products. Coins are more difficult to sell, and the demand for used jewelry is even lower. For this reason, money should be invested in bank gold or platinum - everyone decides for themselves.
But such a choice is usually made if none of the other options (stocks, futures, compulsory medical insurance) are suitable.
Gold bars and coins
Cost of gold and platinum bars
At the stage of choosing an investment method, you need to understand why platinum is cheaper than gold (in its pure form). The cost of precious metals should also be compared:
Expert opinion
According to WPIC experts, now is the best time to buy platinum. Representatives of the organization note that investors are showing increased interest in precious metals as assets that ensure the preservation of savings. An increase in prices for this metal is predicted, taking into account the following factors:
- limited supply on the market due to the lack of investment in the development of new fields;
- setting prices lower than for palladium, which may lead to increased purchases;
- growth in demand for platinum group metals due to tightening emission standards for automobiles.
Other experts are less optimistic. Analysts at Bank of America and SFA Oxford believe that an increase in value is possible in a few years if hydrogen engines are used. Investments in gold are more promising.
Reviews
I had a deposit in platinum, I thought that the price would soon skyrocket. But no, the metal that has fallen in price is already useless, because I invested much more into it than it is worth now.
Vitaly A., Pyatigorsk
Sergey L., Kostroma
Platinum seems to be an expensive metal, but if I buy jewelry from it for my wife, it’s only with rhodium plating - it looks better. The metal itself is valuable only in terms of its characteristics; in appearance, it is steel.
I don’t take gold jewelry, it easily spoils the appearance. I liked the way platinum carries around - even if you hit it with a brick, nothing will happen. The design is simple due to its high hardness, so I don’t take very expensive jewelry - there’s no point in spending money, it’s difficult to sell later.
Valery Ts., Lvov
A little history
The first mention of the unknown metal platinum dates back to the 16th century. Gold miners found it, but because they couldn’t melt it, the platinum was simply thrown away. The metal resembled silver in appearance. And since they couldn’t do anything with it, that is, with her, with platinum, at that time, it was called rotten silver.
Historians have found mention of platinum in the writings of Ancient Egypt. Since 1735, platinum was banned from being imported into Spain, and in Colombia it was completely drowned in the river. For the first time, it was used by the Spanish authorities themselves to produce coins, or rather, to counterfeit them.
But Russia became the first to mine platinum on an industrial scale. It was discovered in the Urals at the beginning of the 19th century. Platinum was mined in huge quantities, but since they did not yet know how to process it, all the precious metal was sold to France and America. It was there that they found a way to make it pure by separating the impurities.
Jeweler's comment
Molokanov N.M.
Jeweler, 26 years of experience in jewelry production.
Platinum products are highly valued, but not by everyone. Until now, many consumers prefer gold, even if they do not know that it contains a significant proportion of platinum. These metals are perfectly alloyed, and Pt additionally improves the appearance of the alloy and changes color. Products last longer. But the price of an alloy based on such materials is higher than gold products containing a cheap alloy.
Peculiarities
Accordingly, the scope of application of the precious metal is quite extensive. There are no analogues for such material in the aviation industry, as well as in the creation of power equipment. Therefore, answering the question of why platinum is more expensive than gold, these aspects should be highlighted. The uniqueness, difficulty of extraction and beauty make this substance irreplaceable. However, it is worth noting that in institutions such as Sberbank, the cost of precious metals may be completely different. Everything depends on the economic component.
