Platinum, recognized for its silver-white appearance, exhibits greater ductility compared to copper, gold, and silver. Its chemical stability combined with its physical properties makes it indispensable in various industrial sectors.

Updated On - 22 Jun 2024

Platinum is highly favored in jewelry due to its exceptional resistance to tarnish and wear. In India, platinum prices are standardized across all cities, with daily updates to reflect market changes.

Today's Platinum Price in India

₹ 3,564 Per Gram

Historical Platinum Price Trend in India

Being generally less expensive than most other precious metals, platinum prices in India have seen fluctuations between 2018 and 2023. Prices surged from 2018 to 2021, dipped in 2022, and have shown an upward trend this year.

Platinum has significant uses in catalytic converters due to its historical perception as a blend of silver and gold. Indigenous South American tribes fashioned nose rings from platinum, and by the 1800s, it began to feature in jewelry. Russia even utilized it as a form of currency, minting coins from this valuable metal.

Platinum Price in Top Cities

Observe the current platinum rates in major Indian cities:

May 2024 Platinum Price Trend (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 renowned for its chemical stability, earning the term "noble metal." Resistant to hydrochloric and nitric acids, it dissolves only in aqua regia at elevated temperatures. It reacts with fluorine and oxygen exclusively under high thermal conditions. Physically, platinum is a soft, lustrous metal noted for its remarkable corrosion resistance.

Factors Influencing Platinum Prices

The valuation of platinum is shaped by various dynamics:

• Industry Demand: With substantial use in the automotive sector for catalytic converters, any shifts or innovations that affect platinum demand can impact its pricing.
• Investment Demand: Investors view it as a safeguard against inflation and currency variances, thereby influencing its demand and market value.
• Geopolitical Situation: Trade policies, political stability, and interactions among leading platinum producers and consumers can lead to price swings.
• Currency Movements: Variations in major currency rates, particularly the US dollar, crucially affect platinum prices as it is globally traded with the dollar.

Comparing Gold and Platinum

Comparing Platinum and Silver