Platinum Price in India 2024

Platinum Price in India 2024

Jun 22, 2024

15 Mins

Platinum is a silver-white metal, known for being more ductile than copper, gold, and silver. Its chemical stability and physical properties make it a valuable material in various industrial applications.

Updated On - 22 Jun 2024

Platinum is also popular in jewelry due to its resistance to tarnish and wear. In India, platinum prices are consistent across all cities and are updated daily.

Today's Platinum Price in India

₹ 3,564 Per Gram

Historical Platinum Price Trend in India

Platinum is generally less expensive than most precious metals. From 2018 to 2023, the prices of platinum in India have fluctuated. The prices increased from 2018 to 2021, dropped in 2022, and have risen again this year.

Year | Platinum Price Per Gram

  • 2018 | ₹ 2,101

  • 2019 | ₹ 2,273

  • 2020 | ₹ 2,573

  • 2021 | ₹ 3,053

  • 2022 | ₹ 2,876

  • 2023 | ₹ 2,940

  • 2024 (Till Today) | ₹ 2,534

Platinum is extensively used in catalytic converters. Historically, it was thought to be a mix of silver and gold. In South America, indigenous tribes used platinum for making nose rings, and in the 1800s, people began using it for jewelry. In Russia, platinum was used as currency, and coins were minted from it.

Platinum Price in Top Cities

Check today's Platinum Rate in top cities in India below:

City | Platinum Price Per Gram | Platinum Price Per 10 Gram

  • Bangalore | ₹ 3,564 | ₹ 35,640

  • Chennai | ₹ 3,564 | ₹ 35,640

  • Hyderabad | ₹ 3,564 | ₹ 35,640

  • Kolkata | ₹ 3,564 | ₹ 35,640

  • Mumbai | ₹ 3,564 | ₹ 35,640

  • Pune | ₹ 3,564 | ₹ 35,640

  • Lucknow | ₹ 3,564 | ₹ 35,640

  • Ahmedabad | ₹ 3,564 | ₹ 35,640

  • Jaipur | ₹ 3,564 | ₹ 35,640

  • Kerala | ₹ 3,564 | ₹ 35,640

  • Karnataka | ₹ 3,564 | ₹ 35,640

  • Guwahati | ₹ 3,564 | ₹ 35,640

  • Patna | ₹ 3,564 | ₹ 35,640

  • Vadodara | ₹ 3,564 | ₹ 35,640

  • Rajkot | ₹ 3,564 | ₹ 35,640

  • Coimbatore | ₹ 3,564 | ₹ 35,640

  • Bhubaneswar | ₹ 3,564 | ₹ 35,640

  • Nagpur | ₹ 3,564 | ₹ 35,640

  • Surat | ₹ 3,564 | ₹ 35,640

  • Vijayawada | ₹ 3,564 | ₹ 35,640

  • Nashik | ₹ 3,564 | ₹ 35,640

Trend of Platinum Price in India for May 2024 (Per Gram)

  • 1 May Price: Rs. 2,503

  • 31 May Price: Rs. 2,735

  • Highest Price in May: Rs. 2,916 on 20 May

  • Lowest Price in May: Rs. 2,503 on 1 May

  • Performance: Incline

  • Change in Percentage: 9.27%

Nature of Platinum Platinum is one of the most chemically stable elements, earning it the name "noble metal." It is resistant to hydrochloric and nitric acids but can be dissolved in aqua regia at high temperatures. Platinum reacts with fluorine and oxygen only at very high temperatures. Physically, it is a silver-colored metal that is soft, lustrous, and highly resistant to corrosion.

Factors Affecting Platinum Prices

The price of platinum is influenced by several factors:

  • Industry Demand: Platinum is extensively used in the automotive industry, especially for catalytic converters. Any changes in the industry or technological advancements that affect the demand for platinum can impact its price.

  • Investment Demand: Investors view platinum as a hedge against inflation and currency fluctuations, affecting its demand and price.

  • Geopolitical Situation: Trade agreements, political stability, and relations between major platinum-producing and consuming countries can cause price fluctuations.

  • Currency Movements: Changes in major exchange rates, especially the US dollar, significantly impact platinum prices since it is globally traded in US dollars.

Difference Between Gold and Platinum

  • Category | Platinum | Gold

  • Color: White | Yellow

  • Weight: Heavier than gold | Lighter than platinum

  • Scratches: Easily | Does not scratch easily

  • Appearance: Longer-lasting than gold | Shorter-lasting than platinum

  • Durability: High | Lower compared to platinum

  • Maintenance: Low | Higher than platinum

  • Value: More valuable | Less valuable compared to platinum

Difference Between Platinum and Silver

  • Category | Silver | Platinum

  • Durability: Silver tarnishes easily and wears down rapidly | Platinum requires significant heat to change due to its high melting point

  • Price: More affordable compared to platinum | One of the costliest metals due to its rarity and durability

  • Skin Reaction: Silver alloys may contain other metals that can irritate the skin | Platinum is naturally hypoallergenic and will not irritate the skin

  • Maintenance: Silver requires regular polishing to prevent tarnishing | Platinum jewelry requires less maintenance

Platinum is a silver-white metal, known for being more ductile than copper, gold, and silver. Its chemical stability and physical properties make it a valuable material in various industrial applications.

Updated On - 22 Jun 2024

Platinum is also popular in jewelry due to its resistance to tarnish and wear. In India, platinum prices are consistent across all cities and are updated daily.

Today's Platinum Price in India

₹ 3,564 Per Gram

Historical Platinum Price Trend in India

Platinum is generally less expensive than most precious metals. From 2018 to 2023, the prices of platinum in India have fluctuated. The prices increased from 2018 to 2021, dropped in 2022, and have risen again this year.

Year | Platinum Price Per Gram

  • 2018 | ₹ 2,101

  • 2019 | ₹ 2,273

  • 2020 | ₹ 2,573

  • 2021 | ₹ 3,053

  • 2022 | ₹ 2,876

  • 2023 | ₹ 2,940

  • 2024 (Till Today) | ₹ 2,534

Platinum is extensively used in catalytic converters. Historically, it was thought to be a mix of silver and gold. In South America, indigenous tribes used platinum for making nose rings, and in the 1800s, people began using it for jewelry. In Russia, platinum was used as currency, and coins were minted from it.

Platinum Price in Top Cities

Check today's Platinum Rate in top cities in India below:

City | Platinum Price Per Gram | Platinum Price Per 10 Gram

  • Bangalore | ₹ 3,564 | ₹ 35,640

  • Chennai | ₹ 3,564 | ₹ 35,640

  • Hyderabad | ₹ 3,564 | ₹ 35,640

  • Kolkata | ₹ 3,564 | ₹ 35,640

  • Mumbai | ₹ 3,564 | ₹ 35,640

  • Pune | ₹ 3,564 | ₹ 35,640

  • Lucknow | ₹ 3,564 | ₹ 35,640

  • Ahmedabad | ₹ 3,564 | ₹ 35,640

  • Jaipur | ₹ 3,564 | ₹ 35,640

  • Kerala | ₹ 3,564 | ₹ 35,640

  • Karnataka | ₹ 3,564 | ₹ 35,640

  • Guwahati | ₹ 3,564 | ₹ 35,640

  • Patna | ₹ 3,564 | ₹ 35,640

  • Vadodara | ₹ 3,564 | ₹ 35,640

  • Rajkot | ₹ 3,564 | ₹ 35,640

  • Coimbatore | ₹ 3,564 | ₹ 35,640

  • Bhubaneswar | ₹ 3,564 | ₹ 35,640

  • Nagpur | ₹ 3,564 | ₹ 35,640

  • Surat | ₹ 3,564 | ₹ 35,640

  • Vijayawada | ₹ 3,564 | ₹ 35,640

  • Nashik | ₹ 3,564 | ₹ 35,640

Trend of Platinum Price in India for May 2024 (Per Gram)

  • 1 May Price: Rs. 2,503

  • 31 May Price: Rs. 2,735

  • Highest Price in May: Rs. 2,916 on 20 May

  • Lowest Price in May: Rs. 2,503 on 1 May

  • Performance: Incline

  • Change in Percentage: 9.27%

Nature of Platinum Platinum is one of the most chemically stable elements, earning it the name "noble metal." It is resistant to hydrochloric and nitric acids but can be dissolved in aqua regia at high temperatures. Platinum reacts with fluorine and oxygen only at very high temperatures. Physically, it is a silver-colored metal that is soft, lustrous, and highly resistant to corrosion.

Factors Affecting Platinum Prices

The price of platinum is influenced by several factors:

  • Industry Demand: Platinum is extensively used in the automotive industry, especially for catalytic converters. Any changes in the industry or technological advancements that affect the demand for platinum can impact its price.

  • Investment Demand: Investors view platinum as a hedge against inflation and currency fluctuations, affecting its demand and price.

  • Geopolitical Situation: Trade agreements, political stability, and relations between major platinum-producing and consuming countries can cause price fluctuations.

  • Currency Movements: Changes in major exchange rates, especially the US dollar, significantly impact platinum prices since it is globally traded in US dollars.

Difference Between Gold and Platinum

  • Category | Platinum | Gold

  • Color: White | Yellow

  • Weight: Heavier than gold | Lighter than platinum

  • Scratches: Easily | Does not scratch easily

  • Appearance: Longer-lasting than gold | Shorter-lasting than platinum

  • Durability: High | Lower compared to platinum

  • Maintenance: Low | Higher than platinum

  • Value: More valuable | Less valuable compared to platinum

Difference Between Platinum and Silver

  • Category | Silver | Platinum

  • Durability: Silver tarnishes easily and wears down rapidly | Platinum requires significant heat to change due to its high melting point

  • Price: More affordable compared to platinum | One of the costliest metals due to its rarity and durability

  • Skin Reaction: Silver alloys may contain other metals that can irritate the skin | Platinum is naturally hypoallergenic and will not irritate the skin

  • Maintenance: Silver requires regular polishing to prevent tarnishing | Platinum jewelry requires less maintenance

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