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Platinum Rate in Delhi (24th July 2021)

Jul 24, 2021
2,525 /Gram -39


Today Platinum Price Per Gram in Delhi (INR)

Gram Platinum Rate
Today
Platinum Rate
Yesterday
Daily Price Change
1 gram 2,525 2,564 -39
8 gram 20,200 20,512 -312
10 gram 25,250 25,640 -390
100 gram 2,52,500 2,56,400 -3,900

Platinum Rate in Delhi for Last 10 Days

Date 1 gram 10 gram 100 gram
Jul 24, 2021 2,525.00 25,250.00 2,52,500.00 -39
Jul 23, 2021 2,564.00 25,640.00 2,56,400.00 -8
Jul 22, 2021 2,572.00 25,720.00 2,57,200.00 13
Jul 21, 2021 2,559.00 25,590.00 2,55,900.00 -13
Jul 20, 2021 2,572.00 25,720.00 2,57,200.00 -11
Jul 19, 2021 2,583.00 25,830.00 2,58,300.00 -42
Jul 18, 2021 2,625.00 26,250.00 2,62,500.00 -2
Jul 17, 2021 2,627.00 26,270.00 2,62,700.00 -60
Jul 16, 2021 2,687.00 26,870.00 2,68,700.00 -22
Jul 15, 2021 2,709.00 27,090.00 2,70,900.00 13

Weekly & Monthly Graph of Platinum Price in India

Historical Price of Platinum Rate in Delhi

  • Platinum Price Movement in Delhi, June 2021
  • Platinum Rates 1 gram
    1 st June rate Rs.2,760
    30th June rate Rs.2,517
    Highest rate in June Rs.2,765 on June 2
    Lowest rate in June Rs.2,455 on June 19
    Over all performance Falling
    % Change -8.80%
  • Platinum Price Movement in Delhi, May 2021
  • Platinum Price Movement in Delhi, April 2021
  • Platinum Price Movement in Delhi, March 2021
  • Platinum Price Movement in Delhi, February 2021
  • Platinum Price Movement in Delhi, January 2021

About Platinum

One of the most reactive metals is platinum. Also, at high temperatures, it has impressive strength to corrosion, and is thus deemed a precious metal. Subsequently, as native platinum, platinum is often discovered chemically uncombined. As it appears naturally in the alluvial beds of multiple rivers, pre-Columbian South American settlers first used it to manufacture artefacts. In catalytic converters, laboratory instruments, electronic components and electrodes, platinum resistance thermometers, dental instruments, and jewellery, platinum is used. As a heavy metal, once subjected to the salts, it leads to health problems; but because of its corrosion resistance, metallic platinum has not been related to harmful consequences. 

Pure platinum is a silver-white metal which is luxuriant, brittle, and malleable. Platinum, which is the most brittle of pure metals, is more tensile than gold, silver or copper, but less malleable than gold. The metal has outstanding ability to corrosion, is robust and has stable electrical properties at high temperatures. At 500 °C, platinum oxidises, forming PtO2, and this oxide can be thermally extracted effectively. At 500 °C (932 °F), it reacts strongly with fluorine to form platinum tetrafluoride. 

Platinum is a member of the platinum group of elements. It has six naturally occurring isotopes. It is one of those rarer elements of metals found on the earth’s crust. Sometimes it can be found on copper and nickel ores along with the native deposits in South Africa. Around 80% of the world’s platinum production happens in South Africa. Due to its scarcity, only a few hundred tonnes are produced every year. 

Platinum is highly valuable and accounts for a major precious metal commodity. It is one of the least reactive metals and has a remarkable resistance to rust (corrosion), even at high degree temperatures, hence it is called a noble metal. 

The platinum metal has found its usage in several areas be it as a catalytic converter, electrical contacts dentistry equipment laboratory equipment, electrodes, platinum resistance thermometers, jewellery and so on. 

Platinum is a heavy metal and upon exposures to its salts, it leads to health problems. The metal has resistance towards corrosion and hence metallic platinum has not been linked to adverse health effects. 

Over the last few years, the value of platinum in jewellery markets has witnessed phenomenal growth. 

Applications of Platinum

Platinum as a whole has an annual global production of 192 tonnes. It has about 40% of demand in the jewellery industry wherein it is primarily used as an alloy that makes white gold. As per the records, more than 40% of the wedding rings sold in America do contain some platinum. Amongst the nations globally, the U.S., India, Japan, China are the largest markets for platinum jewellery. 

Use of Platinum in Industrial Applications

Due to its non-corrosive nature, platinum has found its usage in industrial applications. Apart from this, its high-temperature stability has made it ideal as a catalyst in chemical reactions. The term catalyst refers to the usage of a substance to speed up chemical reactions without themselves being chemically altered in the process.

It has found its usage as a catalytic converter in automobiles. These catalytic converters will reduce the harmful chemicals from exhaust emissions. This will be done by initiating reactions that turn over 90% of hydrocarbons into other, less harmful compounds. 

Apart from this, platinum metal is used to catalyze gasoline and nitric acid, which will ramp up the octane levels in the fuel. In the case of the electronic industry, platinum crucibles will be used to make semiconductor crystals for lasers. 

The platinum alloys will be used to make computer hard drives, magnetic disks and switch contacts in automotive controls. 

Medical Applications of Platinum

Platinum as a metal has a wide range of usage in medical applications. Its conductive properties have made its use in pacemaker’s electrodes as well as retinal and aural implants. It has also found its usage in anti-cancer properties in medicines like cisplatin and carboplatin. 

  • Heavy metal is used in dental implants. 
  • In the manufacture of smoke and carbon monoxide detectors. 
  • In electronic connections. 
  • To make high-quality flutes. 
  • As coatings for ceramic capacitors in electronic devices. 
  • Used as alloys for missile nose cones and jet fuel nozzles. 
  • In alloys used to manufacture the tips of aeronautic spark plugs and tips of automotive. 
  • Coatings for the razor. 
  • In the manufacture of silicones. 

Production of platinum

Platinum is extracted commercially as a by-product of nickel and copper extraction and refining, along with the majority of the platinum-group metals. Virtuous metals such as silver, gold and platinum group elements as well as selenium and tellurium remain at the edge of the core as "anode mud" across the electro-refining of copper, that constitutes the beginning for the extraction of platinum group elements.  Platinum is an exceedingly valuable precious metal, much rarer than gold. It is generally more costly than gold, but in modern history, regulated by the rules of availability and consumption, it has been traded lower than gold on multiple times. Platinum is present in just a few areas worldwide, primarily in the Merensky Reef of South Africa, the Ural Mountains of Russia and a few remote mines in the US and Canada. Platinum, with its high molecular weight, is solid, dense metal. It is about twice as heavy as 14-karat gold and has some very distinctive qualities that make it a very attractive fine jewellery metal. Platinum does not fade quickly due to its softness combined with immense durability, which ensures that the initial weight of a jewellery item at the time of buying will remain the same, even after generations of severe use. This is often the reason that massive diamonds are mostly set in platinum, although the prongs can stay solid and platinum's extraordinary whiteness makes the diamond look more bright and thus more expensive.In jewellery, laboratory equipment, electrical components, dentistry, and vehicle emission control systems, platinum is used.    

10 key facts of Platinum

Platinum is a white metal that is highly valued.

About this feature, here are 10 important titbits:

  • The name of the element, platinum, derives from the term platinum, which implies 'little silver' in Spanish.
  • It has been known to mankind for a very long time since platinum occurs in pure native form. There is confirmation that pre-Columbian natives were informed of platinum.
    At any temperature, platinum does not corrode and is inhibited by most acids. Its corrosion resistance makes it an excellent choice for jewellery and for the development of mass standards.
  • Platinum is an appropriate catalyst for chemical reactions such as the melting of petroleum, vehicle catalytic converters and the conversion of methyl alcohol to formaldehyde. Large quantities of hydrogen can be consumed by the element.
  • It is known that platinum is non-toxic. As an antitumour product, it is safe for use in jewellery, is used in dental applications, and has benefits.
    Platinum is known, like gold and silver, to be a precious metal. In currency and savings, it is being used.
  • In meteorites and moon rocks, the percentage of platinum contained is higher than the percentage found on Earth.
  • Platinum is a metal that is unique. In certain alluvial soils, the pure element may be identified. During the refining of copper-nickel ore, the element can be extracted.
  • For making strong permanent magnets, platinum alloyed with cobalt can be used.
  • Platinum demonstrates many metal features. In texture, it is silver-gray, glossy, ductile, malleable, and dense as well.    

10 Lesser Known Facts of Platinum

  • Currently, approximately 50 percent of cancer treatment patients use platinum-containing medications, and some of these medicines, such as cisplatin, are also used to diagnose animal tumours and cancer. Since it is non-toxic and inert, platinum is deemed a medically compatible metal, since it does not interfere with or affect body tissues adversely. In recent studies, platinum has also been shown to suppress the development of some cancer cells as well.
  • Platinum demand is not anticipated to increase in the coming years, according to many experts. In South Africa, the bulk (about 80 percent) of platinum is extracted. In Russia, approximately 10 percent is extracted, and the majority is found in North and South America. Since platinum and other metals of the Platinum Group Metals (PGM) are typically not present in significant amounts, other metals are also by-products of processing. Platinum that is similar to the earth's surface has also been extracted by South African miners. Producers today have to reach deep into the earth's crust for the metal. Deeper mining results in higher manufacturing costs and less overall commodity production. 
  • In catalytic converters, about half of the platinum that is mined is used, the part of the automobile that transforms toxic gases into less harmful emissions. The high temperatures needed for oxidation reactions that minimise pollution can be withstood by platinum and other platinum metals.   
  • As the global norm for weighing a kilo, a cylindrical hunk of platinum and platinum alloy is used. Approximately 40 of these cylinders have been used in the 1880s, weighing about 2.2 lbs. They were spread around the world or 1 kilo. 
  • Some of the rarest metals present in the earth are Platinum Group Metals or PGMs. Palladium Group-Platinum Group Elements (PPGEs) and Iridium Group-Platinum Group Elements (IPGEs) are two subtypes of PGMs. Platinum, palladium, and rhodium comprise the first group. The second is composed of iridium, ruthenium, and osmium. They are not tarnished by PGMs and are particularly prone to heat and chemical threats. They are all outstanding electricity conductors as well.
  • Platinum was contained in artefacts dated back to about 700 BC. Not before the nineteenth century did other PGMs find their way into the market. Malleable platinum was first developed by the French physicist P.F., achievable only upon purification into ultimately pure metal. In 1789, Chabaneau was rendered into a sceptre submitted to Pope Pius VI. In 1802, the English chemist William Wollaston, who renamed it after the asteroid Pallas, reported the discovery of palladium. Wollaston later reported that another element found in platinum ore had been discovered: rhodium. In 1803, the English chemist Smithson Tennant reported the studies of iridium (decided to name after Iris, goddess of the rainbow, because of the varying hue of its salts) and osmium (from the Greek term for "odour," because of the chlorine-like stench of its reactive oxide).    
  • London is the hub for platinum exchange, but in Zurich, Switzerland, physical distribution continues to take place. The CME's NYMEX group provides platinum futures contracts. 50 ounces of metal is measured by each futures contract. With global industrial conditions, the price of platinum continues to rise and drop. The price of platinum stood at $2,300 per ounce in 2008, just prior to the 2008 global economic crisis. 
  • The platinum metals entail extensive ionic chemical treatment for their isolation and identification, unlike gold and silver, which could be easily isolated in a comparatively pure form by simplistic fire refining. The classification and differentiation of the platinum group underperformed behind silver and gold by thousands of years since these methods were not usable until the beginning of the 19th century. Furthermore, until scientists developed techniques for centralising and working platinum into usable forms, the high melting points of these metals constrained their implementations.
  • Around 1900, the inventing of platinum into beautiful jewellery started, but although this application certainly applies even today, industrial uses soon eclipsed it. The advancement of molecular processing strategies in petroleum refining generated a tremendous appetite for the catalytic properties of platinum metals after the Second World War. This market increased ever further in the 1970s, when the utilization of platinum metals in the catalytic conversion of exhaust gases culminated in vehicle emission requirements in the United States and other European countries.
  • It is both resource and effort intensive to produce platinum. One troy ounce (31,135g) of pure platinum will take up to 6 months and 7 to 12 ton of ore to generate. The first stage in this method is to crumble and indulge ore-containing platinum into a water-containing reagent, a process called as 'froth flotation.' Air is injected into the ore-water slurry during the flocculation. In a lather that is vented out for further processing, platinum particles chemically bind to the oxygen and rise to the surface. The refined powder also contains less than 1 percent platinum after it has been processed. In electric furnaces, it is then heated to over 2732F ° (1500C °) and the air is blown through again, reducing iron and sulphur contaminants. To extract nickel, copper and cobalt, electrolyte solution and chemical processes are used, ending in an isolate of 15-20 percent PGMs. To dissolve platinum metal from the mineral isolate, Aqua regia (a concoction of nitric acid and hydrochloric acid) is used by making chlorine that binds to platinum to create chloroplatinic acid. To transform chloroplatinic acid into ammonium hex chloroplatinate, which can be melted to form pure platinum metal, ammonium chloride is used in the final phase.   

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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