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Platinum Rate in Kolkata (24th July 2021)

Jul 24, 2021
2,525 /Gram -39


Today Platinum Price Per Gram in Kolkata (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 Kolkata 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 Kolkata

  • Platinum Price Movement in Kolkata, 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 Kolkata, May 2021
  • Platinum Price Movement in Kolkata, April 2021
  • Platinum Price Movement in Kolkata, March 2021
  • Platinum Price Movement in Kolkata, February 2021
  • Platinum Price Movement in Kolkata, January 2021

Platinum has a silvery-white lustre that conveys extraordinary beauty and fits well with a selection of metals and stones, frequently hailed as just as stunning as the gems it portrays. Platinum is known for its hard-wearing properties, resistance to corrosion and wear, and its significant sturdiness, four times stronger than gold. We're proud to deliver the platinum price of top metropolitan cities of India including Kolkata in our portal i.e. Goodreturns.in

Generally platinum consists of pure platinum of at least 95 percent, with alloy metals of at most 5 percent. Platinum has become strongly correlated with elegance and durability, being deemed among the purest and precious metals used in present-day jewellery production. Pure platinum is however blended with other metals to make it more malleable due to its hardness and durability. Copper, palladium, rhodium, iridium, and titanium are the most common platinum-paired alloy metals. While jewellery sellers can bill certain alloys as platinum, there are specific criteria for what defines a 'pure' platinum product. High-grade platinum is known only to be metals labelled with a 950 or 900 purity mark. To make jewellery, alloys comprising a lower ratio are also used, but these products do not offer the same good quality, longevity or attractiveness ideals. 

950 Platinum: A combination of 95 percent platinum and 5 percent alloy metals (generally ruthenium, copper, cobalt, iridium, rhodium, or palladium) are pieces labelled with a purity of 950.

900 Platinum: Pieces labelled with a purity of 900 comprise 90% platinum and 10% (generally ruthenium or iridium) alloy metals.

Difference Between Silver and Platinum

  • Platinum is a rare metal and hence it is more valuable than silver metal.
  • Platinum is more ductile when compared with silver.
  • Silver as a metal is known for its highest level of thermal conductivity and electrical conductivity.
  • The oxidation state of silver is +1. But platinum can form various oxidation states.
  • Platinum has more resistant to corrosion when compared with silver metal.
  • Silver has 20 d electrons and Platinum has 8 d electrons.
  • The chemical symbol of Platinum is Pt and that of Silver is Ag. But the common thing about both these metals are they belong to d block elements in the periodic table. Hence, they are commonly referred to as transition metals.
  • Like other transition metals, these two also can form compounds with several oxidation states and can form complexes with several ligands. But the expensiveness of the metal Platinum and its rare occurrence has limited its usage.
  • The platinum and silver metal has similar appearance and thus for an untrained eye, it will be a difficult job to differentiate between them.
  • The platinum and silver used in jewellery are not 100% pure. To enhance a jewellery piece’s strength and workability it has to be mixed with other metals. Silver in its pure state is extremely pliable and soft and hence metals like nickel, copper or zinc will be added to increase lustre and durability to the silver metal. Platinum on the other hand is combined with cobalt, palladium, iridium, copper and ruthenium. Most of the platinum alloys purity level ranges between 85 – 95 per cent.
  • Platinum is one of the strongest metal and hence it can be used in the manufacture of ornamental pieces. Platinum does not wear down easily, nor does it tarnish or corrode. A block of smooth platinum can develop a matte texture and appearance referred to as patina. A professional polish once in a while is enough to keep the jewellery piece shiny and lustrous. But silver is much less durable. Over some time, silver jewellery tends to lose shape and wear thin. Silver is prone to tarnish and turn dark when exposed to moisture and pollutants.
  • Off the two metals – Platinum and Silver, it is easy to maintain platinum and keep it lustrous for a long time.
  • The value of a metal is based on several factors including its level of purity, availability, complex level of expertise, tools required for chalking out a jewellery piece and so on. Due to its rare availability, platinum is priced heavily when compared to silver. Silver is more affordable and also makes an ideal choice for large statement jewellery accessories and costume jewellery.
  • Platinum and Silver are hypoallergic and can be worn by individuals who are prone to skin sensitivities and metal allergies. Sometimes, the metals in silver alloys like zinc or nickel can lead to skin irritations.

Platinum Purity

Platinum is the purest of all the valuable metals used to manufacture luxury jewellery and is typically alloyed to a purity of 95%. Platinum, specifically when alloyed with ruthenium, has a very pure white lustre. On the scale of hardness, platinum is extremely harder than gold with a hardness of 4-4.5, comparable to iron hardness, while gold has a hardness of 2.5 on the Moh scale. Platinum purity is not measured in Karats, but in thousands of parts. Pure platinum is 1000 out of 1000 parts pure, while 950/1000 parts pure is the most common alloy used throughout India. Demonstrated in percentage, this equals 95 percent purity. Though platinum alloys of as low as 585/1000 parts are approved by some countries, the Indian quality limit is set at a low of 950 parts. Hypoallergenic and completely tarnish-resistant, Platinum is. Even after long and hard years of use, platinum jewellery retains its colour (no plating is necessary), brightness and weight, and is almost entirely maintenance-free, especially compared to gold and silver, both of which are precious metals that need to be re-polished at frequent intervals to preserve their shine and lustre. 

These attributes set platinum apart: pure, unique, everlasting. This precious metal has experienced an increase in popularity in both Europe and Hollywood, particularly among discriminating bridal jewellery buyers, as the metal of choice for late 19th and early 20th century royalty. The quality of Platinum exceeds both gold and silver and guarantees that your most valued diamonds and gemstones will be 100 % secure. One of the hardest, most enduring and densest metals is platinum. A piece of jewellery containing 90 percent pure platinum actually weighs 60 percent more than a piece of 14-karat gold of the same size. 

Quality marks of platinum and purity

The high level of purity of Platinum jewellery makes it naturally hypoallergenic and, thus, the best alternative for people with delicate skin. In the United States, 85- to 95-percent pure platinum is commonly used in platinum jewellery. For contrast, just 58.3-percent pure gold is 14-karat gold. Just 'Platinum', 'Pt' or 'Plat' labelled jewellery comprises at least 95 percent pure platinum. 999 for 99.9 percent pure platinum, 950 for 95 percent, and so on, can even mark the quality of platinum. Jewellery of less than 50 percent pure platinum in the United States can not be identified with the word 'Platinum' or other shorthand thereof.      

Looking inside a Platinum ring or jewellery

Look at a piece of platinum jewellery inside and you can see the mark of purity. For the quality of any precious metal alloy, the Federal Trade Commission requires precise labels. A high-content platinum alloy would be numbered 950Pt, 950, platinum or platinum to safeguard consumers, meaning that it is at least 95 percent pure, elemental platinum. To recognise because it is 95 percent pure platinum, it is also the only platinum alloy that can actually hold the "Platinum" stamp. Iridium, ruthenium or cobalt are other common metals that form the remaining 5 percent. 900 parts of platinum to 100 parts of other metals is another platinum alloy that is common in the United States. According to FTC rules, the mark for this unique alloy is 900Pt. In the United States, the purity stamp must also surround a brand's licensed hallmark. Platinum has a greater concentration of the elemental metal as compared with the gold alloys widely found in jewellery. Pure gold is classified as 24 K, but in most jewellery it is much too fragile and malleable to wear, so it must be alloyed with other metals. White or yellow 14 K gold only comprises 58.5 percent of the raw metal and 75 percent contains 18K. Generally robust and malleable, to generate an alloy that can be moulded, cast and formed into the world's most beautiful jewellery, platinum only needs to be combined with the smallest amount of other platinum group metals. Platinum jewellery is either plain platinum, 90 percent or 95 percent respectively.  

Platinum for the use of commercial production

It will be clear that this examination has managed to legitimise the conventional objective of high purity platinum refiners. Undoubtedly, certain impurities can be inherently acceptable; some, though manageable for certain uses, may be specifically regulated for particular applications; and some are almost always hazardous. X-ray fluorescence spectroscopy is commonly used for evaluating many of the elements to be processed in platinum and for tracking some phases of refining activities. This device is operated by a revolutionary logic unit that allows for the automated determination of up to 25 elements. On a central computer, the X-ray data is analysed. There is also sufficient reason for the strategy of manufacturing a grade of platinum from which all traditionally undesirable contaminants are thoroughly rinsed and which has been purified from all others to the level that it is economically prudent. For this reason, modern processing methods focus on frequent inspection during the entire refining phase for identified impurities. In addition, regular chemical and physical measures, as well as the controllers' sight, have often been used to detect some tell-tale alteration in the colour or shape of moderate precipitates simultaneously. Many years ago, spectroscopy was placed into operation, and as arc emission spectroscopy technologies have been implemented, they have been used to identify and estimate impurities in products of platinum refineries. The detection limit for most elements is now around 1 p.p.m.; while concentrations of less than 10 p.p.m. of iridium and 10 p.p.m. of ruthenium through also fall unobserved in regular testing protocols, sadly. However, the limitations for any of these components can be greatly lowered by unique, more time-consuming strategies.  

In many commercial processes, the reason why platinum is the most valuable of precious metals today is that it is desired. One-fifth of all we use is calculated to either include platinum or to include platinum in its production. Among all the recognised modern uses of platinum, 2 distinct groups - catalytic converters and fine jewellery - consume much of the annual supply. Together over 70% of the world's production of platinum is used by these two applications. Platinum has numerous and important applications while continuously exploring new uses for platinum.

Automobile Catalyst

The widely loved use of platinum, as mentioned above, is in the catalytic converter that is part of the automobile exhaust pipe.

Catalysts turn these toxic gases into harmless carbon dioxide and liquids, instead of dispersing harmful carbon monoxides, hydrocarbons and nitric oxide into the atmosphere. For this reason, about half of the newly mined platinum is used. Increased environmental safety issues have resulted in the implementation of stronger emission standards by governments worldwide, further increasing appetite for the metal. 

Petroleum industry

The excellent catalytic properties of platinum also refer to another significant sector, the petroleum field, besides cleaning up our air. In oil refineries, platinum mesh or gauze is used in cracking operations. In refining gasoline from crude oil and for producing high octane fuels, platinum catalysts play a significant role. 

Uses of Platinum in fuel cells

As an alternative to energy from fossil fuels or batteries in electric vehicles, the use of electricity from hydrogen fuel cells is getting acceptance. A fuel cell is a system that produces electricity, not combustion, by an electrochemical reaction. Hydrogen and oxygen are capable of forming energy in a platinum-based hydrogen fuel cell, with heat and water being the first and only by-products. Using a proton exchange layer that is coated with a platinum catalyst, hydrogen and oxygen molecules react and blend. As a mobile/transport fuel cell catalyst, Platinum is particularly suitable as it causes hydrogen and oxygen reactions to occur at an astonishing pace while being robust enough to survive the dynamic chemical condition within a fuel cell and high electrical potential strength, operating efficiently over the longer run. Many of a battery's features are shared by fuel cells: quiet running, no mechanical parts and an electrochemical reaction to produce electricity. However unlike a battery, when provided with fuel, fuel cells have no recharging and can operate forever. As a device part, a fuel cell can have a battery to store the energy that it provides. In offering renewable electric versatility, platinum-based hydrogen fuel cells are especially important and are now being used to transport products around the supply chain, from hydrogen-powered vehicles to fork-lift trucks that move goods across a factory. Fuel cells are also used for passenger transportation, including hydrogen-fuelled ferry services, trains, commuter trains and buses appearing steadily in a variety of cities across the globe. FCEVs integrate the emission-free operation of battery-powered electric vehicles with the rapid refuelling periods and capacity of conventional petrol or diesel automobiles.

Uses of Platinum in Industrial demand 

Industrial appetite for platinum does not rely on a particular market or region, and is expected to tend to rise at or above the international growth rate. Present projections suggest that industrial production will rise by 2 per cent in 2020. Other variables, particularly population growth and trends, also have the ability to have a long-term beneficial influence on platinum production. For instance, to satisfy the world's food needs, the United Nations Food and Agricultural Organisation projects that food and feed demand will have to rise by 70 percent by 2050. Preserving food supply for the growing population needs the potential to produce more food on existing croplands, and it is important to achieve fertiliser supply, which requires nitric acid.

The medicinal uses with Platinum are influenced equally. By 2050, the number of people aged 65 or older is estimated to double to 20% of the global population (which is itself increasing). Furthermore, healthcare coverage is on the increase in both developed and emerging countries.     

About Platinum

  • Platinum is a rare metal. Its purest element can be found on the alluvial deposits.
  • Platinum can also be extracted from the refining process of copper-nickel ores.
  • The platinum metal exhibits many properties of a metal.
  • The colour of platinum is silver-grey.
  • It is shiny, malleable, ductile and dense.
  • When alloyed with cobalt, the resulting mixture can be used to make strong permanent magnets.
  • It does not oxidize at any temperatures and is unaffected by most of the acids.
  • The metal’s ability to resistant and corrosion has made it a good choice for jewellery and to make mass standards.
  • It is considered non-toxic and hence it has found its usage in dental crowns.
  • It has also found its usage in medicines as an anti-tumour agent.
  • Platinum metal is safe for its usage in jewellery.
  • Platinum is used as an investment option and also in currency.
  • In the lines of gold and silver, platinum also has created a niche market for itself in the jewellery industry.
  • The metal is an important catalyst for chemical reactions like petroleum cracking, catalytic converters in vehicles.
  • Platinum is also used for converting methyl alcohol into formaldehyde. It can absorb considerable volumes of hydrogen.
  • Platinum can be physically produced when nickel metal is refined from nickel and copper ores.
  • Platinum can be scratched, but it does not scratch in the same way as gold.
  • The metal does not lose its physical attributes owing to tarnishing. Due to this reason and resistance to corrosion, it has found its usage in the jewellery market.
  • It is one of the costlier metal and hence it is considered a notable precious metal.
  • The annual production of platinum to be only a little more than 100 tons.
  • Around 50% of the platinum metal unearthed from mines and purified every year will be used for industrial applications.
  • The metal has found its usage in the manufacturing of chemotherapy based drugs, dental implants, medical devices and so on.
  • Platinum does not naturally oxidize in the air. But it may corrode when it comes in contact with halogens, sulfur, cyanides.
  • It has a significant high melting point of 3,125℉ (1,769℃).
  • Platinum can be physically produced when nickel metal is refined from nickel and copper ores.
  • Platinum can be physically produced when nickel metal is refined from nickel and copper ores.
  • It has also found its usage in medicines as an anti-tumour agent.
  • The metal is an important catalyst for chemical reactions like petroleum cracking, catalytic converters in vehicles.
  • The metal’s ability to resistant and corrosion has made it a good choice for jewellery and to make mass standards.
  • When alloyed with cobalt, the resulting mixture can be used to make strong permanent magnets.
  • Platinum is also used for converting methyl alcohol into formaldehyde. It can absorb considerable volumes of hydrogen.
  • Platinum metal is safe for its usage in jewellery.
  • The colour of platinum is silver-grey.
  • Platinum is used as an investment option and also in currency.
  • In the lines of gold and silver, platinum also has created a niche market for itself in the jewellery industry.

Characters of Platinum 

Due to its several useful properties, platinum has found its usage in a wide range of industries. Platinum is one of the densest metal elements which is almost twice as dense as lead. It is a very stable, good conductor of electricity, thus giving the metal an excellent corrosion resistance property. 

Platinum is also malleable (able to be formed without breaking) and ductile (able to be deformed without losing its strength). It is considered a biologically compatible metal due to its non-toxic and stable nature. A study conducted on platinum metal reveals that it does not react with or negatively impact the body tissues. The recent research reveals that platinum can inhibit the growth of certain cancerous cells providing a needed breakthrough to cure the patients affected with the chronic disease. 

Applications of Platinum

Platinum as a whole has an annual global production of 192 tonnes. It has about 40% of demand in the jwellery 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. 

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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