Gold vs Platinum Price (USD per Troy Ounce)

Gold (TVC:GOLD) vs Platinum (TVC:PLATINUM) Compare

Weekly line chart; use the date-range buttons to view 1 year, 5 years or the full history. Data from TradingView, may be delayed. Information only — not investment advice.

Gold Spot Price (XAU/USD)

XAU/USD Live

Gold vs Platinum Comparison

Gold/Platinum Ratio Ratio
Platinum Premium/Discount to Gold Analysis

Gold & Silver Markets

Silver Spot (XAG/USD) Live
Gold/Silver Ratio Ratio

Precious Metals Performance Comparison

Reading the Gold/Platinum Ratio

The ratio divides the gold price by the platinum price. Above 1.0, gold is more expensive per ounce; below 1.0, platinum is. Platinum traded above gold for much of the 1980s–2000s, but the ratio has stayed above 1.0 since the mid-2010s.

Different Demand Profiles

Gold demand is dominated by jewelry, investment and central-bank buying. Platinum is more industrial: autocatalysts, chemicals, glass and hydrogen technologies account for a large share, alongside jewelry and investment.

Supply Dynamics

Gold is mined on every inhabited continent. Roughly 70% of mined platinum comes from South Africa, with Russia and Zimbabwe next, so platinum supply is far more concentrated. More on platinum supply.

Gold vs Platinum: Key Differences

 GoldPlatinum
Symbol / currency codeAu / XAUPt / XPT
Densityabout 19.3 g/cm³about 21.4 g/cm³ (heavier)
Annual mine outputroughly 3,500–3,700 tonnesroughly 170–190 tonnes
Main producersWidely spread (China, Russia, Australia, Canada, US and others)South Africa (~70%), Russia, Zimbabwe, North America
Typical jewelry purity18k = 75%, 14k = 58.3%Pt950 = 95% is common
Main demandJewelry, investment, central banksAutocatalysts, industry, jewelry, investment

Figures are approximate and vary year to year. For the long-run story of why platinum moved from a premium to a discount versus gold, read Platinum vs Gold: Price History, Ratio and Key Differences and our platinum price history.

Gold vs Platinum FAQ

Which is more expensive, gold or platinum?

Gold has been more expensive than platinum per troy ounce since the mid-2010s. The overlay chart above shows the current gap, and the Platinum minus Gold chart shows it in dollars.

Why is platinum cheaper than gold if it is rarer?

Price reflects demand as well as scarcity. Much of platinum demand is industrial and cyclical (especially diesel autocatalysts, which fell after 2015), while gold benefits from strong investment and central-bank demand as a monetary asset.

Is a platinum ring worth more than an 18k gold ring?

Not necessarily. Platinum jewelry is usually 95% pure and denser, so a platinum ring contains more metal by weight than a same-size 18k (75%) gold ring, but its metal value depends on current spot prices. Retail prices also include labour and markup. See platinum jewelry value.