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Platinum Rate in Chennai (2nd August 2021)

Aug 2, 2021
2,512 /Gram 19

Find Chennai City Platinum Price, Chennai Live Platinum Price. Daily Platinum Selling Rate In Chennai.1 Gram Platinum Price Chennai, Platinum Best Rate / Price In Chennai, Current Pure Bar Platinum Price In Chennai Metro City, India's Largest Platinum Selling Market Chennai Platinum Jewellery In Rupees In Gram & Kg Details. To get the price details about Platinum Jewellery in Chennai for today, Daily Platinum Selling Rate In Chennai. Chennai Morning Platinum Price / Rate Today, Chennai Evening Platinum Rate / Price Today

Today Platinum Price Per Gram in Chennai (INR)

Gram Platinum Rate
Today
Platinum Rate
Yesterday
Daily Price Change
1 gram 2,512 2,493 19
8 gram 20,096 19,944 152
10 gram 25,120 24,930 190
100 gram 2,51,200 2,49,300 1,900

Platinum Rate in Chennai for Last 10 Days

Date 1 gram 10 gram 100 gram
Aug 2, 2021 2,512.00 25,120.00 2,51,200.00 19
Aug 1, 2021 2,493.00 24,930.00 2,49,300.00 0
Jul 31, 2021 2,493.00 24,930.00 2,49,300.00 1
Jul 30, 2021 2,492.00 24,920.00 2,49,200.00 -71
Jul 29, 2021 2,563.00 25,630.00 2,56,300.00 61
Jul 28, 2021 2,502.00 25,020.00 2,50,200.00 -15
Jul 27, 2021 2,517.00 25,170.00 2,51,700.00 -28
Jul 26, 2021 2,545.00 25,450.00 2,54,500.00 20
Jul 25, 2021 2,525.00 25,250.00 2,52,500.00 0
Jul 24, 2021 2,525.00 25,250.00 2,52,500.00 -39

Weekly & Monthly Graph of Platinum Price in India

Historical Price of Platinum Rate in Chennai

  • Platinum Price Movement in Chennai, July 2021
  • Platinum Rates 1 gram
    1 st July rate Rs.2,589
    31st July rate Rs.2,493
    Highest rate in July Rs.2,709 on July 15
    Lowest rate in July Rs.2,492 on July 30
    Over all performance Falling
    % Change -3.71%
  • Platinum Price Movement in Chennai, June 2021
  • Platinum Price Movement in Chennai, May 2021
  • Platinum Price Movement in Chennai, April 2021
  • Platinum Price Movement in Chennai, March 2021
  • Platinum Price Movement in Chennai, February 2021
Platinum, with the symbol Pt and the atomic number 78, is a chemical substance. It is a heavy, malleable, tensile, extremely unreactive, rare, transition metal that is silverish-white. Its name, meaning "little silver," comes from the latin word platino. Platinum is a component of the element group platinum and of the periodic component table group 10. It has six isotopes which occur naturally. With an average abundance of approximately 5 μg / kg, it is one of the weirder elements in the Earth's crust. It occurs along with some indigenous deposits in certain nickel and copper ores, mainly in South Africa, which accounts for 80 percent of world demand. Only a few hundred tonnes are produced annually because of its availability in the Earth's crust, and considering its essential uses, it is extremely valuable and is a significant precious metal across the globe.     

Facts of Platinum

You are not the only one if you are not sure which metal to use for your jewellery. Here are only a few platinum details that we have established as helping to separate it from the majority.

Difference between Platinum and White Gold

Platinum alloys are 90 per cent to 95 per cent pure as one of the most precious metals. Platinum is therefore so heavy that it can weigh about 165 pounds for a six-inch cube. White gold is a combination of 24k pure gold with whitening metals (plus other hardness metals) such as nickel or palladium. Although gold is yellow in its natural state, white gold can be slightly yellow in colour. Due to its white colour, great strength and toughness, Platinum is the best choice for diamond setups. Platinum is commonly alloyed with iridium or ruthenium to enhance toughness. It takes longer to create jewellery in platinum than in gold. And platinum can be significantly more costly than white gold because of its purity, density and longer processing time. 

Why Platinum is expensive?   

Platinum, among the most rare and valuable metals, earns a premium price that varies with the market requirements. Platinum is therefore so dense that it can weigh about 165 pounds for a six-inch cube. Which means that if it were gold, a ring made from platinum would weigh much more than the same ring would weigh. In comparison, platinum alloys are 90 percent -95 percent pure, while 58.5 percent pure gold is 14k gold and 75 percent pure is 18k gold. So this rare, dense precious metal makes up a higher percentage of the weight of an item. 'PT' for pure platinum or 'PT900' or 'PT950' must be stamped on platinum jewellery, showing the number of parts per thousand that are purely platinum. 

Platinum is a dense, durable and unique metal that, due to its distinct and unusual chemical and physical properties, is often used in jewellery for its beautiful, silver-like look, as well as in medical, electronic , and chemical products. More than ten times as rare as gold is platinum. The estimated annual platinum production from the mine is approximately 250 metric tonnes. The overwhelming majority of the world's production of platinum comes from South Africa and Russia. Platinum, once referred to as "white gold," is silver-white and has a variety of valuable qualities, which justify its use in a broad array of industries. It is highly resistant (which makes it known as a' noble metal') to tarnishing and corrosion and is very soft and malleable, making it easy to mould. It is also liquid, making it quick and unreactive to extend into wire, ensuring that it does not corrode and is unaffected by toxic acids. Platinum, a group that comprises gold , silver, copper and titanium, and much of the elements in the centre of the periodic table, is one of the transition metals. These metals' atomic structure ensures that they can bond quickly with other metals. Platinum is widely known to be used in jewellery production, but its key uses range to catalytic converters, electrical components, pacemakers, medicines, and magnets.     

Key facts of Platinum

A few informative details, from the density, melting-point and existence of platinum, to examples of its historic uses and recent medical use are listed below:

  • A higher percentage of platinum than can be encountered on earth is found in meteorites and moon.
  • The melting and boiling point of Platinum is 3,215 °F (1,768.4 °C) and 6,917 °F (3,825 °C) respectively.
  • Usually 95% pure and one of the purest precious metals is platinum in the world.
  • The least reactive element known to man is platinum.
  • A platinum-iridium cylinder made in 1879, stored in Washington D.C., is now legally recognised by the metric kilogram. At the Standards Bureau.
  • In one Olympic sized swimming pool, all the platinum ever generated would only surround your ankles. All the gold ever extracted would cover three swimming pools of the Olympic size.
  • In the United States, almost as much steel is poured in just one day as the world's total production of platinum in one year.
  • In the United States, non-military use of platinum was forbidden during World War II, as it was considered a defensive metal.
  • It is possible to stretch one gram of platinum into a wire which is over 2,000 metres (beyond one mile) long.
  • The only material appropriate for the electrodes used in the 600 000 heart pacemakers that are embedded annually is platinum.
  • Platinum is very tensile, which ensures that a layer that is as thin as 100 atoms can be hammered into it.
  • One of the strongest metals is platinum. A platinum six-inch cube weighs as much as a normal human being.
  • In 1828, platinum was first used in Russia for coins.
  • The density of pure platinum is 21.45 gram per cubic centimetre, making it one of the densest elements in the world.
  • In the Merensky Reef in the Bushveld Complex, South Africa, the world's largest reserve of platinum is located.
  • The latest Platinum Quarterly edition provides a Q3 2020 review of the dynamics of supply and demand for platinum and projections for both 2020 and 2021. It also offers a forecast for adjustments in platinum's global above-ground stocks.
  • Platinum is a rare metal with unique characteristics that make it widely regarded in a variety of categories of demand that are extensive.
  • In industrial uses, Platinum's unique physical and catalytic characteristics have defined its importance. It has become the premier jewellery metal due to its precious metal characteristics.     

Uses of Platinum

Platinum is currently cheaper compared to gold than it has been for over 110 years ago. Yet physical gold reserves are eclipsed by platinum supplies above the surface. Let's see why we really love platinum and think it's maybe today's greatest long-term precious metal value. This unique white-colored precious metal is a kind of newcomer to the stock markets (especially in comparison to silver or gold) due to the high melting value of platinum (3,215°F / 1,768°C). For a very long period of time, when it was so expensive to deal with, platinum was simply discarded. Not all that long ago, Spanish conquistadors of the 17th century could not even accomplish fires burning hot enough to melt platinum from their mined ores of gold and silver, far less distinguished and acknowledge the real uniqueness and intrinsic value concessions of platinum now recognised and utilised nowadays. In reality, platinum originates its name from the term "platino" in Spanish, indicating "little silver." Platinum was practically used as a pest by the gold and silver miners of the Spanish New World in Latin America. Platinum is heavy, strong and white, and is in fact mainly a by-product of South African nickel and copper mines (about 70 percent of the current platinum chain utilizes resources from there). Today, for any range of diverse reasons, platinum is an excellent metal that is used in our everyday life.     

Uses of Platinum in various industrial applications

Around 1/5th of any produced product we use nowadays is reported to either include platinum or require platinum in some component of its processing. Platinum also has an extreme, finite supply, including gold, copper, silver, and other metals, which can be depleted within a few generations. Focused on the growing demands at these existing price points for platinum and other primary products. Platinum is also combined with cobalt and is used to generate effective magnetic fields. As the thermal factor of contraction is almost equal to that of glass, electrodes inside glass are normally filled with platinum. In low voltage electrical ties and electrical resistance cables, Platinum can be used. Platinum is still currently used in resistance temperature detectors (RTDs), which are commonly used for industrial temperature measurements. Turbines also use platinum applications for aeroplanes. In self-lighting gas lamps, ovens, and stove burners, black platinum is also used. Platinum precursors help generate nitric acid, pesticide materials, and military weapons. Highly robust, waterproof, and electrically insulating materials can include platinum for the manufacture of specific silicones. For example, platinum is used to produce the flexible layer for a sticky label paper or the trigger sheet on which several pre-baked products are mounted.    

Disclaimer: There maybe definitely a variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell in precious platinum. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on platinum information provided. Platinum rates are the futures rates across all cities in India and hence there maybe price variation.

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