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Platinum Rate in Mumbai (27th November 2022)

Nov 27, 2022
2,574 /Gram

Platinum is unique, with eternal visage and consistency. The unprecedented durability and wear resistance of Platinum makes it the best and most durable metal, which ensures that your jewellery can be covered for a lifetime of wear. Platinum does not change its form or wear away, so precious gems are kept tightly and safely. Platinum's density makes it more robust than most other jewellery metals like gold.

Today Platinum Price Per Gram in Mumbai (INR)

Gram Platinum Rate
Today
Platinum Rate
Yesterday
Daily Price Change
1 gram 2,574 2,574 0
8 gram 20,592 20,592 0
10 gram 25,740 25,740 0
100 gram 2,57,400 2,57,400 0

Platinum Rate in Mumbai for Last 10 Days

Date 1 gram 10 gram 100 gram
Nov 27, 2022 2,574.00 25,740.00 2,57,400.00 0
Nov 26, 2022 2,574.00 25,740.00 2,57,400.00 -21
Nov 25, 2022 2,595.00 25,950.00 2,59,500.00 -22
Nov 24, 2022 2,617.00 26,170.00 2,61,700.00 9
Nov 23, 2022 2,608.00 26,080.00 2,60,800.00 1
Nov 22, 2022 2,607.00 26,070.00 2,60,700.00 49
Nov 21, 2022 2,558.00 25,580.00 2,55,800.00 -9
Nov 20, 2022 2,567.00 25,670.00 2,56,700.00 0
Nov 19, 2022 2,567.00 25,670.00 2,56,700.00 -9
Nov 18, 2022 2,576.00 25,760.00 2,57,600.00 -41

Weekly & Monthly Graph of Platinum Price in India

Historical Price of Platinum Rate in Mumbai

  • Platinum Price Movement in Mumbai, October 2022
  • Platinum Rates 1 gram
    1 st October rate Rs.2,251
    31st October rate Rs.2,486
    Highest rate in October Rs.2,548 on October 28
    Lowest rate in October Rs.2,251 on October 1
    Over all performance Rising
    % Change +10.44%
  • Platinum Price Movement in Mumbai, September 2022
  • Platinum Price Movement in Mumbai, August 2022
  • Platinum Price Movement in Mumbai, July 2022
  • Platinum Price Movement in Mumbai, June 2022
  • Platinum Price Movement in Mumbai, May 2022

Everlasting is Platinum and naturally white, this pure metal does not besmirch or fade down over time and will last a lifetime. It is the ideal present to honour happiness. A Quality Assurance Card comes with a piece of platinum jewellery and bears the "Pt 950" purity hallmark engraved inside the product. For today's individual, luxurious platinum is the ideal choice; it is exquisite, durable and elegant, but it has special ability and durability. The best way to reflect your own personality, intensity and elegance is to use luxurious platinum. When buying your platinum jewellery, this guide addresses the questions you may have. 

Purity

Platinum is pure, perfectly white and pleasant to the eyes. Platinum is a metal that is naturally white, so it can not reflect a diamond with any of its own pigment.  As platinum is so pure, it is naturally hypoallergenic and perfect for people with sensitive skin. Typically, 95 percent pure (by comparison, 18-karat gold is 75 percent pure), platinum never stains or debases but maintains its natural white shine for a lifetime. 

Platinum's 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 in India. Explained in percentage, this equals 95 per cent purity. However, after long and intense years of wear, platinum jewellery retains its colour (no plating required), shine and weight, and is almost entirely maintenance-free, particularly in comparison to gold and silver, both of which are precious metals that need to be re-polished at frequent intervals to preserve their polish and allure.

Because of its impressive intensity and attractiveness, the metal has achieved growing fame. However, because of its high density, along with its high purity commands a much higher premium, it remained an exclusive jewellery material than, for example, 18-Karat white gold. Platinum will cost roughly twice the amount of 18-karat white gold created in an equal design.

Growth of Platinum in India 

Indians have an affinity for jewelry. The entire globe knows how much the country consumes gold on an annual basis, making it second to China when it comes to global consumption annually. The craze Indians have towards jewelry has attracted Platinum Guild International (PGI) to enter the country for twenty years.

Since it entered India, PGI has managed to create a niche market for the silvery-metal in India. So far, till 2019, the platinum jewelry market witnessed a growth of 20%-25% annually. By the end of 2019, India witnessed around 7 – 7.5 tonnes of platinum in jewelry fabrication across the country.

Worldwide, platinum-based ornaments are targeted at younger consumers and the case is similar in India as well. The growing consumer awareness about the metal is drawing more purchasers and it is not limited to metropolitan cities in India. The craze of buying and owning platinum has gone into tier – 2 and tier – 3 cities.

In 2009, the PGI introduced its first branded segment – Platinum Days of Love, a collection of wedding bands. In 2015, it introduced its second branded segment namely Platinum Evara, exclusively for the bridal/trousseau sub-category. In 2019, it launched its Men of Platinum, targeted at men.

The platinum jewelry collection includes rings, chains, bracelets, earrings, wristwear, and so on.

Apart from women, men have an affinity for platinum jewelry. Around 62% of the men feel that the metal is rare and close to 66% consider it to be a unique metal. 64% believe it to be a choice of today's young generation.

Why is Platinum very expensive?

Platinum is a light silvery-white metal. It is harder than gold and silver. It is more expensive due to its rarity and it is used in the manufacture of several products. Around two-thirds of the supply of platinum comes from South Africa and Russia accounts for the second-largest supplier of platinum. One can find a few mines of platinum in North America.

Platinum jewellery is being made since the 1800s. Few countries like Australia, China, and Canada are minting pure platinum coins. The non-tarnish nature of metal has made it popular in jewellery. The platinum does not get tarnished with its exposure to air or water. Its silvery-white colour resistance to corrosion makes it one of the rarest metals. Yet the metal can dissolve in acids. It is useful for those who have sensitive skin. The best examples of platinum are the Hope Diamond and the Star of Africa.

Investing in Platinum

Investment has seen an array of changes over a while. Earlier people used to invest in land and buildings, then they slowly moved to invest in gold, jewellery, silver, vehicles, stock markets, and so on. Now, people have started investing in platinum. Few nations create pure platinum coins and nowadays even platinum bars are also available. Yet the supply and demand for this metal are tight.

The amount of platinum available on this earth is less compared to gold and silver. Platinum is usually found in mixed veins while mining, often near palladium or gold. If in case mining of platinum is stopped, the supplies for the metal would last only for a few years. There are usually no stockpiles of platinum, unlike other precious metals.

 

Manufacturing

 

Platinum is used in over 20 per cent of manufactured products.

Platinum has found its usage in the manufacturing industry since the 1800s. In the automotive industry, silvery-white metal is used as an exhaust catalyst to convert emissions into non-toxic substances. Its properties of resistance to corrosion make it well suited for use in technology industries. It has a melting point of 3215 degrees and is a good conductor of electricity.

A list of few products which contain platinum are gasoline, cancer-treating medicines, lasers, chemicals, fertilizers, paints, refrigerators, spark plugs, and explosives.

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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