Gold vs Platinum Price Today
Live gold vs platinum prices
| Unit | Gold (USD) | Platinum (USD) | Difference |
|---|---|---|---|
| Per troy ounce | $3,992.97 | $1,549.07 | $2,443.90 |
| Per gram | $128.38 | $49.80 | $78.57 |
| Per 10 grams | $1,283.77 | $498.04 | $785.73 |
| Per kilogram | $128,376.99 | $49,803.83 | $78,573.16 |
Gold/platinum ratio: 2.578 — one ounce of gold buys 2.58 ounces of platinum. Platinum/gold ratio: 0.388.
How the ratio is calculated
gold/platinum ratio = gold price per oz ÷ platinum price per oz
Worked example with today's prices: $3,992.97 ÷ $1,549.07 = 2.578. If the ratio is above 1, gold is the more expensive metal; below 1, platinum is. The difference per gram is ($3,992.97 − $1,549.07) ÷ 31.1035 = $78.57.
Is platinum more expensive than gold?
Historically, platinum was the premium metal. It is far rarer in the Earth's crust than gold and mined in only a handful of places, mainly South Africa and Russia, and for long stretches it traded above gold per ounce. That changed in the 2010s. Around 2015 platinum fell below gold and, with brief exceptions, it has remained the cheaper metal since — a shift that surprised many people who still think of platinum as the "more precious" metal.
The reasons are mostly about demand. A large share of platinum is used in catalytic converters for diesel vehicles, so the decline in diesel car sales in Europe after the mid-2010s weighed on demand. Platinum is also used in chemicals, glass, electronics and jewelry, which all track the economic cycle. Gold, by contrast, is driven mainly by investment demand, jewelry and central bank buying, and it is treated as a safe-haven asset in times of uncertainty. When investors seek safety, gold tends to benefit far more than platinum.
The gap can narrow or widen quickly. Platinum is a smaller, less liquid market, so supply disruptions or new industrial uses — such as hydrogen fuel cells — can move its price sharply. Watch the live ratio above rather than relying on rules of thumb.
Gold vs platinum jewelry
| Property | Platinum 950 | 18k gold | 14k gold |
|---|---|---|---|
| Precious metal content | 95% platinum | 75% gold | 58.5% gold |
| Density (g/cm³, approx.) | ≈ 20.1 | ≈ 15.5–16 | ≈ 13–14.5 |
| Metal value per gram today | $47.31 | $96.28 | $75.10 |
| Natural color | White, does not fade | Yellow, white or rose | Yellow, white or rose |
Even when platinum's spot price is below gold's, platinum jewelry usually costs more. Three reasons: platinum rings are typically 95% pure versus 58.5% for 14k and 75% for 18k; platinum is denser, so the same design weighs more; and it has a high melting point and is harder to cast and polish, which raises manufacturing costs. White gold, in contrast, is often rhodium plated and needs re-plating over time, while platinum keeps its color.
Example: a 6 g 18k gold band holds 4.5 g of gold, worth $577.70 in metal. The same design in platinum 950 would weigh roughly 7.6 g because of the higher density and contain about 7.2 g of platinum, worth $358.59. Retail prices also include design, labor and retailer margin.
Investing: gold or platinum?
Gold is the deeper, more liquid market with tight dealer spreads, which makes it the core holding for most precious-metals investors. Platinum can offer more upside when industrial demand recovers, but it is also more volatile and its bullion premiums are often higher. Some investors hold both, using the ratio to rebalance. This page compares prices only and is not financial advice. See also platinum vs palladium and the gold/silver ratio.
Frequently asked questions
Is platinum more expensive than gold?
Not currently. For most of the period since about 2015 platinum has traded below gold per troy ounce. Before then platinum usually traded at a premium to gold. The live prices and ratio on this page show today's relationship.
Why is platinum cheaper than gold now?
Platinum is mostly an industrial metal, with heavy demand from diesel catalytic converters. Weaker diesel car demand and slower industrial use reduced its appeal, while gold benefited from strong investment and central bank buying.
What is the gold to platinum ratio?
The gold/platinum ratio is the gold price per ounce divided by the platinum price per ounce. A ratio above 1 means gold is more expensive; below 1 means platinum is more expensive.
Is a platinum ring more expensive than a gold ring?
Often yes, even when platinum's spot price is lower. Platinum jewelry is usually 95% pure and platinum is denser than gold, so a ring uses more metal by weight, and it is harder to work, which raises labor costs.
Which is heavier, gold or platinum?
Platinum is denser: about 21.45 g/cm³ versus 19.32 g/cm³ for pure gold. 14k and 18k gold alloys are lighter still, so the same ring design weighs noticeably more in platinum.
Should I invest in gold or platinum?
Gold is the more liquid, widely held store of value. Platinum is more volatile because it depends on industrial demand. Many investors hold mostly gold; this page provides prices for comparison, not financial advice.