Platinum Value Calculator

Melt value is calculated by multiplying the weight in troy ounces by the fineness (purity as a fraction of 1000) and the current platinum spot price. For example, 1 troy oz of .950 platinum = 1 × 0.950 × spot price.

Platinum has traded below gold since 2015 due to reduced automotive demand (diesel decline), South African supply concerns, and gold's stronger investment demand. Historically, platinum traded at a premium to gold for decades.

Most platinum jewelry is .950 (95% pure) or .900 (90% pure). Unlike gold, platinum jewelry is already very high purity. In the U.S., items must be at least 50% platinum to use the word 'platinum' without qualification.

About 40% of platinum demand comes from catalytic converters in diesel vehicles. It's also used in electronics, petroleum refining, medical devices, and chemical manufacturing. This industrial demand significantly influences platinum's price.

Platinum is rarer than gold (about 15x less annual mine supply) but has smaller investment demand. It offers more upside potential when industrial demand is strong but can be more volatile. Many investors hold both for diversification.

One troy ounce equals 31.1035 grams. Platinum bars are commonly available in 1 oz, 10 oz, and 1 kg sizes. The spot price is always quoted per troy ounce.