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Overview
Platinum is an underrated precious metal, especially as compared to the popular metal, gold. For investors though, there are some reasons why investing in platinum can be worth it, although it comes with risks. The best feature of platinum is that it isn't affected by wear and isn't affected much by corrosion, making it an ideal material for jewelries or even watches. Platinum is also largely used in the automobile industry, as it is quite useful in vehicle emissions control, serving as a catalyst for the process. Platinum also have practical electrical uses, laboratory uses and also chemotherapy uses just recently. With the wider range of use for platinum, it's no wonder that investors are eyeing the metal for long-term investment decisions. While platinum can be highly unstable for investing for the short-term, since its uses are mainly defined by supply and demand, many experts believe that investing in the metal for the long-term can yield better returns.
Price of Platinum Per Gram in India (Last 7 Days)
| Date | Price Per Gram (Average Low) | Price Per Gram (Average High) |
|---|
| February 7, 2017 | Rs. 2,166 | Rs. 2,193 |
| February 6, 2017 | Rs. 2,164 | Rs. 2,185 |
| February 5, 2017 | Rs. 2,170 | Rs. 2,190 |
| February 4, 2017 | Rs. 2,168 | Rs. 2,191 |
| February 3, 2017 | Rs. 2,165 | Rs. 2,170 |
| February 2, 2017 | Rs. 2,154 | Rs. 2,165 |
| February 1, 2017 | Rs. 2,143 | Rs. 2,154 |
Here are the prices of platinum in India for the last seven days. As you can see, it has been stable for the last seven days, with little variation when it comes to price fluctuations. Prices for platinum per gram range between Rs. 2,143 to Rs. 2,166, for the average lows and between Rs. 2,154 to Rs. 2,193, for the average highs. You would find that shops selling platinum also has their own rates, so it's best to use this table just as a guide and still look around when buying platinum in India.
Price Fluctuations of Platinum for the Past Year (2016)
Chart Depicting the Price Fluctuations of Platinum in India in 2016
The chart above depicts the price fluctuations for platinum for the past year which is 2016. From January to March, the price difference isn't that much, ranging between Rs. 2,130 to Rs. 2,160 per gram of platinum. In April of 2016, the price of platinum dropped to Rs. 1,984 per gram but it went back up in May at about Rs. 2,330 per gram. June has seen a low as well at about Rs. 2,115 per gram. The succeeding months of July, August and September saw an all-year high, ranging between Rs. 2,380 to Rs. 2,490 per gram of platinum. The remaining quarter has seen a low though, ranging from Rs. 2,055 to Rs. 2,160 per gram of platinum.
Comparison of Platinum Price Per Gram (INR, USD, EUR & GBP)
| Currency | Description | Platinum Price Per Gram (February 2017) |
|---|
| INR | Indian Rupees | 2,193 rupees |
| USD | US Dollar | 32.64 US dollars |
| EUR | Euro | 36.96 Euros |
| GBP | British Pound | 31.86 pounds |
Here are the price per gram rates of the different currencies. For those coming in from the US, there is little difference between the rate of platinum in India and this country. On the other hand, those coming from either the UK or other parts of Europe, it's practical to buy platinum in India as the rates here are lower.
Conclusion
The price of platinum varies day by day. If you're interested in buying platinum for investment purposes, buying them in countries that sell them for lower market prices would be a good idea. For those interested in buying platinum just for aesthetic purposes, it's also okay to buy them in another country that sells them for a lower price, especially if you're there as a tourist. Always keep this guide in handy so you know exactly the selling prices of platinum and so you won't be taken advantage of. Good luck!
Global Market Trends – Platinum prices are linked to international supply and demand.
USD to INR Exchange Rate – Since platinum is traded in USD, a weaker rupee increases its price in India.
Import Duties & Taxes – India imposes import duties and GST on platinum purchases.
Jewelry Making Charges – If buying platinum jewelry, extra making charges (₹500-₹1,500 per gram) apply.
Demand in Auto & Industrial Sectors – Platinum is used in car manufacturing (catalytic converters), which impacts its price.
Tanishq Platinum
Risk: Prices are more volatile compared to gold
