Why Gold Is Now Pricier Than Platinum

For decades, platinum was considered more exclusive, more rare, and more valuable than gold. But in a dramatic market shift, gold has overtaken platinum—and it has stayed on top for more than a decade. If you’re buying precious metals or designing a custom ring, this reversal is something you’ll want to understand.

Platinum Used to Be More Expensive Than Gold

Back in the early 2000s, platinum commanded a premium of several hundred dollars over gold. It was used heavily in industrial applications—especially catalytic converters for diesel vehicles—and its rarity made it a prestige metal for fine jewellery.

In 2008, platinum hit a peak of over US $2,200 per ounce, while gold hovered around $1,000/oz.

The Shift: Gold Takes Over

What Changed?
2008 Global Financial Crisis: Investors flocked to gold as a safe haven. Platinum, more tied to industry, dropped sharply.

Rise of Electric Vehicles: Platinum demand dropped with diesel engine sales. Carmakers also switched to palladium for petrol engines.

Central Bank Buying: Gold became a strategic asset held by countries like China and Russia. Platinum? Not in their vaults.

Investment Demand: Gold ETFs, bullion markets, and futures trading exploded. Platinum lacked the same momentum.

Since around 2012, gold has consistently outpriced platinum. In July 2025, gold trades at roughly US$3,360/oz, while platinum is around US$1,410/oz—less than half the price.

Gold vs Platinum Price Ratio: A Historic Reversal

Historically, platinum traded at a premium to gold. Now, the gold-to-platinum price ratio is over 2:1. This is a key indicator showing that market sentiment, industrial usage, and investment patterns have fundamentally changed.

What This Means for Jewellery Buyers

At Brilliyond, we’re seeing more customers ask:

“If platinum is cheaper but stronger and rarer—shouldn’t I go for platinum instead of gold?”

And honestly? Yes and No :-)

Why Choose Platinum Over White Gold?

Stronger & More Durable: Ideal for everyday wear.
Naturally White: No rhodium plating needed.
More Rare: Mined 30x less than gold.
Currently Undervalued: Historically priced higher, now deeply discounted.

Why Choose White Gold Over Platinum?

White gold offers a similar sleek, silvery look to platinum but at a more affordable price point. It’s lighter in weight, easier to work with for intricate designs, and can be polished and re-plated to maintain its shine over time. For customers who want the platinum aesthetic without the higher cost or density, white gold provides an elegant, budget-friendly alternative—especially for custom engagement rings or fine jewellery that won't face heavy daily wear.

Will Platinum Regain Its Premium?

There’s potential. Platinum is essential in hydrogen fuel cells, a growing green technology. If global demand rises and investment interest picks up, prices could climb again.

But for now, savvy buyers are quietly making the most of this price inversion.

Final Thoughts: Gold is pricier than platinum—but platinum gives you more metal, more strength, and more rarity for less money. For high-end custom jewellery, it’s one of the smartest choices in today’s market.

Damian Sylvester

As the Lead Content Developer and Digital Marketer for Brilliyond Jewellery, Damian has a keen interest in the gemstone industry and business development. His posts educate readers on the jewellery industry and precious stones, blending historical insights with current trends. With a background in business and professional writing, he brings an analytical approach to content creation, covering topics from buying guides to the history of precious stones and exotic subjects. His content caters to buyers, jewellery enthusiasts, and industry professionals alike, offering valuable perspectives for a wide audience.