What is going on with gold and platinum?

[Kelley1]

For years platinum was more expensive than gold, There is 15 times more gold, and platinum costs more to mine and refine. Nevertheless, Gold will soon be 3 times the price platinum.

[Lliam]

"Gold is a highly efficient conductor which can carry tiny currents and remain corrosion-free. It is used in connectors, switch and relay contacts, soldered joints, connecting wires and connection strips. What’s more, aside from your trusty iPhone, you’ll find gold in calculators and most large electronic appliances – even your standard desktop or laptop computer and your TV.

"Gold truly is a metal of the future – look no further than its use in aerospace. If you are going to spend billions on a space vehicle that, when launched, will travel on a voyage where the possibility of lubrication, maintenance and repair is absolutely zero, then building it with extremely dependable materials is paramount. This is exactly why NASA uses gold in hundreds of ways in every space vehicle it launches. Clearly, gold’s importance as a multi-use metal cannot be overstated."

Gold alloys are also used for fillings, crowns, bridges and orthodontic appliances because the precious metal is non-allergenic and easy to work with.

Gold has been used to make ornamental objects and fine jewellery for thousands of years. Today, up to 80 per cent of the gold that is newly mined or recycled is used in jewellery manufacture. One reason the lustrous metal is such a popular jewellery choice is because of its malleable properties – it can be drawn into wires, hammered into sheets and/or cast into shapes. Pure gold, which is very soft, is known as 24 karat gold. It has to be forged with other metals such as copper, silver and platinum to increase its durability.

Gold doesn’t just signify jewellery value – it has also long been used as a medium of exchange or money. The first known use of gold in transactions dates back more than 6000 years – gold coins were minted under the order of King Croesus of Lydia (a region of present-day Turkey) in about 560 BC. The rarity, usefulness and desirability of gold make it a substance of high value, plus it’s durable, portable and easily divisible. Today, many governments, individuals and institutions hold investments of gold in the convenient form of bullion.

Arguably no other metal has been held in higher esteem throughout history, with almost every established culture using gold to symbolize power, beauty, purity and accomplishment.

Today, gold still occupies an important place in our culture and society – we use it to make our most prized objects: wedding rings, Olympic medals, money, jewellery, Oscars, Grammys, crucifixes, art and many more.

The incomparable color gold is beautiful. There is nothing else like it.

[Lliam]

Thanks for the MHO, Kelley!

[jamesgoldman]

Platinum isn't in demand because of the reduced need to use it in diesel catalytic converters since dieselgate started in 2015

I've sold kilos of gold and merely a few ounces of platinum re-state//background_color_rgba (0, 0, 0, 0), font_color_rgb (77, 77, 77), justifyLeft

[TheStaleMarshmellow]

The practical use for Gold and Copper is wayy more valuable than what you can get with platinum

[Gwendoline]

Supply and demand. I guess gold is in demand

[Kayleigh2005]

I don't know, but these old guys trying to get me talk about crypto I have been looking at it

[TallAnon]

Gold conducts electrity much better than platinum, so while it's scarce, it has less demand. Simple demand and supply at that point.

[Kelley1]

That is not relevant and you should know it. Silver conducts electricity better than gold, so should silver be more expensive than gold?

[TallAnon]

Silver does tarnish and is more brittle, so it's not used for electronics that often

[AviatorTom]

Gold has many more uses than platinum, and is therefore more valuable.

[Kelley1]

Are you also claiming that water is more valuable than gold?

[AviatorTom]

Not at all, I only compare gold to platinum.