Platinum Price Today
The platinum price hit an all-time high in March of 2008, breaching the $2200 per ounce mark only to drop to only $825 per ounce by November that same year! Can you believe that 12 years later, in March of 2020, platinum was trading for even less than $750 per ounce? Talk about a volatile metal!
Even though platinum is thirty times more rare than gold, the gold price has been considerably higher than platinum for the last ten years. What a strange anomaly indeed. Since 2014, the cost of gold has been steadily increasing while platinum has further declined. By 2020, gold was $2000 per ounce, double that of platinum.
In 2021, the gold price has begun to dip under $1800 while platinum has finally awoken, surpassing $1200 per ounce. Perhaps by the end of the year, platinum will be higher than gold again as it should be.
Buy and Sell Platinum digitally
The platinum price you see on the computer screen is the price traders use to buy and sell platinum digitally. And yet, even while platinum prices remain well below gold, the jewelry industry seems to ignore this fact completely. Platinum rings, chains, bracelets, and earrings will invariably cost much more than the same item in gold. The suppliers of physical platinum metal understand the supply chain and price platinum higher accordingly.
So what is so special about platinum anyway?
Well, platinum is a pure white metal and is highly resistant to tarnishing and corrosion. It is also the heaviest of all the precious metals, very dense and malleable, making it an excellent choice for crafting fine jewelry. Unlike white gold, platinum will never turn yellow over time. White gold is just yellow gold mixed with nickel and silver and finished with a rhodium layer to appear white. For these reasons, platinum is usually more desirable than gold.
Cook County Buyers loves to buy platinum! We pay more for platinum jewelry than any other buyer; please contact us with your platinum jewelry for sale. We also buy platinum coins and bars.