Is Platinum More Expensive Than Gold?

Platinum and gold are both great choices, popular for their value and rarity. Whilst both have their qualities and both work great in jewellery due to their durability, which is more expensive?

Both are popular for their timeless and elegant appeal, but which is the best option for you to add to your jewellery collection?

In today's blog post, we will take a look into the pros and cons of each metal and which one is more expensive to help you with your decision.

Platinum vs Gold

Before we delve into the costs of each, let’s explore the qualities of each of the metals:

Gold Characteristics

Gold has long been a popular choice for its timeless and popular nature. Its versatility is one of its favoured qualities by jewellery makers and wearers alike.

Gold can be moulded into various shapes - it can be alloyed with various metals to change the colours. Its design possibilities are endless, from statement pieces to elegant, dainty designs.

It is comfortable to wear and its versatility makes it easy to mould into the perfect shape to fit you. Gold is also easier to source than most other precious metals, so you won't be limited in options.

So, the key characteristics of gold include:

• Versatile
• Soft and malleable
• Comfortable to wear
• Resists tarnishing

Platinum Characteristics

Platinum is loved for its natural shiny white appearance. Not only does it look great, but it is incredibly durable and highly resistant to wear and tear.

This makes it an ideal choice for everyday jewellery pieces, like engagement rings and wedding bands. It also requires minimum maintenance and is hypoallergenic.

Platinum’s natural cool white shine pairs nicely next to diamonds and other gemstones, making it a great choice for engagement rings or statement necklaces.

So, the key characteristics of platinum include:

• Naturally shiny
• Durable
• Highly resistant to wear and tear
• Hypoallergenic
• Malleable
• Dense

Which Is Better?

There is no right or wrong answer when it comes to which metal is a better choice - it all comes down to personal preference.

Platinum and gold have both been popular jewellery choices for centuries. Both metals are highly respected in the jewellery industry and are known for their durability and shine.

Both of the metals have their own unique features that may influence your decision, whilst individual style and budget can also be a deciding factor.

How Much Does Platinum Cost?

The cost of platinum fluctuates depending on current market trends and supply and demand. You can expect to pay between £760-£900 per Troy ounce of platinum. For platinum jewellery, such as rings, you can expect to pay from £300 upwards.

Our Platinum Diamond Set Stud Earrings cost just £495. They’re the perfect gift for a loved one. They are beautiful rectangle diamond earrings on a base of platinum - and can be dressed up for an occasion or styled down for everyday wear.

Or if you would rather go for a necklace, why not choose our Platinum 0.36ct Diamond Solitaire Pendant & 18" Chain? This necklace is timeless and elegant, making it the perfect choice for everyday wear. We have it here at Miltons Diamonds for just £849.

How Much Does Gold Cost?

The price of an ounce of pure gold today is £1,794.50 - but the value of gold fluctuates slightly constantly.

The cost of gold depends on the carat. 24K gold is the most expensive per gram, as it has the highest content of gold at 99.9%.

The general rule of thumb is that the lower the carat, the lower the price per gram. As shown in the table below, per gram of gold, you can expect to pay on average.

Carat	Price (£)
24ct	£58.95
22ct	£54.03
18ct	£44.21
14ct	£34.38
9ct	£22.10

The cost of gold in different jewellery forms can vary - for a golden ring, you can expect to pay anywhere between £150 and £5000. It depends on whether the ring contains gemstones like diamonds, which can also affect the price.

For a gold bracelet, you may find yourself spending from £150 upwards, and for earrings around £100 to £3000.

At Miltons Diamonds, we have a stunning 14ct Yellow Gold Diamond Set Necklace - 17" which is a unique and elegant necklace that will elevate your style. It is in store for just £1795.

If you’re looking for a gift, we have a stunning selection of affordable gold pieces, from earrings to bracelets. Starting from just £29!

Which Is More Expensive?

The price of platinum and gold often fluctuates, depending on current trends and demand. The price of platinum has dropped in recent years making it much more affordable than gold. However, in the past platinum has been much more expensive than gold due to its density and rarity.

The process of mining platinum is a lot more complex and costly, which can add to its price tag. Over 1000 tons of gold is mined each year. Only 150 tons of platinum is mined. This can result in platinum being the more expensive option - due to its limited amount.

Platinum and Gold Jewellery at Miltons Diamonds

Here at Miltons Diamonds, we have a wide range of platinum or gold jewellery pieces for you to choose from, so whichever option you prefer, we will have an option for you.

Our team of skilled jewellers is on hand to help you throughout the jewellery-buying process, so please do not hesitate to reach out to us if you need a helping hand, or visit us in-store.

We also offer excellent cleaning and maintenance services, so if you are looking to give your platinum or gold a refresh, you are in good hands with Miltons Diamonds.