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Platinum Rate in Visakhapatnam (30th July 2021)

Jul 30, 2021
2,563 /Gram 61

Today Platinum Price Per Gram in Visakhapatnam (INR)

Gram Platinum Rate
Today
Platinum Rate
Yesterday
Daily Price Change
1 gram 2,563 2,502 61
8 gram 20,504 20,016 488
10 gram 25,630 25,020 610
100 gram 2,56,300 2,50,200 6,100

Platinum Rate in Visakhapatnam for Last 10 Days

Date 1 gram 10 gram 100 gram
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
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

Weekly & Monthly Graph of Platinum Price in India

Historical Price of Platinum Rate in Visakhapatnam

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

You buy a commodity that comprises a metal that is almost absolutely pure, 90-95 per cent, when you pick platinum jewellery. Extracted from beneath the earth and converted with a minimum of other materials for jewellery use, the lustre, intensity and longevity of Platinum are iconic. Yet its purity, used at a ratio of 950 parts per thousand in the finest jewellery, makes platinum the best metal found on the marketplace currently. For milestone jewellery, such as engagement rings and wedding bands, Platinum is the obvious alternative since it keeps major precious stones better than any other precious metal. Platinum is incredibly robust, meaning there's a minimal chance the diamond will be dislodged by wires made from platinum. The natural white privilege of the metal, whose sparkling coating becomes more attractive over time, even enhances diamonds embedded in platinum. And platinum will never need to be re-plated, unlike white gold, which preserves its white privilege only after being plated with rhodium. The purity of platinum also suggests that it is inherently hypoallergenic. Identified as an aspect in the 18th century, scientists realized quickly that, using conventional techniques, this peculiar white metal, hard to melt, was also almost incorruptible by chemicals or gases, rendering it absolutely non-corrosive. Platinum is incredibly dense as well. As per precious metals' investor I, one cubic foot of platinum weighs in at "slightly more than 1,330 pounds." M. Vronsky, which makes it 11% heavier than gold. For those who enjoy the feel of a flimsier piece of jewellery, this density has made it a favourite.    

Uses of Platinum

Platinum is an extraordinarily unique precious metal, far rarer than gold. It is usually more costly than gold, but in modern history, regulated by the market rules, it has been traded lower than gold on countless events. 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 higher strength, is solid, dense metal. It is about twice as heavy as 14-karat gold has some really recognizable traits that make it a very attractive jewellery metal. Platinum does not fade quickly due to its softness combined with great durability, which ensures that the initial weight of a jewellery item at the time of buying will remain the same, even after generations of extreme use. This is often the reason that big diamonds are mostly set in platinum since the bristles can retain hard and platinum's extraordinary white privilege makes the diamond appear more white and thus more expensive. In jewellery, laboratory equipment, electrical components, dentistry, and automobile pollution control systems, platinum is used. The auto sector uses the largest amount of platinum processing available, led by the medical sector. Platinum is frequently used for jewellery. However, its predominant use is in catalytic converters for automobiles, trucks, and buses. Every year, this accounts for around 50 per cent of production. In converting emissions from the engine of the car into less toxic waste materials, Platinum is very successful. In the chemical sector, platinum is used as a catalyst for nitric acid, silicone and extraction of benzene. It is also used to boost the performance of fuel cells as a catalyst. The technology sector uses platinum for hard drives and thermocouples for computers. To produce optical fibres and LCDs, turbine blades, spark plugs, pacemakers and dental implants, Platinum is also used widely. The platinum compounds used to cure cancers are effective chemotherapy medications. There is no known biological role for platinum. It is non-toxic and in alluvial soils, it is found uncombined. The platinum extracted most commonly comes from South Africa, from the mineral cooperite (platinum sulphide). Certain platinum is processed as a copper and nickel refining by-product. Platinum consists of prestige, significance and influence as a metal. Platinum, platinum wedding anniversaries, and highly-priced platinum jewellery such as rings and Rolex watches also headed to a collection.     

4 uses of platinum that investors should know

Platinum is a rare metal true, but after gold and silver, it is the third most-traded precious metal globally. The world's appetite for platinum ranges greatly across many segments. Most importantly, platinum metal is used for medical and industrial purposes as well as in autocatalysts and jewellery. Many of those who are interested in platinum investing would do well to be familiar with the various uses of platinum. Indeed, it is necessary to understand supply and demand patterns by understanding which industries demand platinum and to be mindful of how the price of the precious metal is changing on a daily basis. Considering this in mind, here we have covered and discussed the four highest uses of Platinum which you must read out as an investor.

Platinum as an autocatalysts

One of several primary features and uses of platinum is in autocatalyst manufacturing. An autocatalyst is a circular or elliptical cross-section cylinder implemented with ceramic or metal moulded into a fragile honeycomb and covered with a chemical and platinum metal group.  A catalytic converter is classified as an autocatalyst placed inside a stainless steel container. In the exhaust pipes of a car, between the engine and the muffler, a catalytic converter is mounted where it regulates the toxic exhaust materials. Primarily, over 90 percent of hydrocarbons and carbon monoxide are processed into carbon dioxide, nitrogen and water vapour by the autocatalysts that automobiles generate. They can also process emissions into carbon dioxide and water vapour from diesel exhaust, which is extremely beneficial in mitigating air contamination.  

Since 1974, automobile catalysts have been used in the US and Japan, and are now so widespread that more than 95% of new vehicles produced each year. As a consequence, they are a massive factor of demand for platinum that is not expected to vanish in the future. After all, car manufacturers are looking at the possibilities of making even more powerful autocatalysts as emission laws get more strict.

Platinum as a jewellery

Platinum has several properties that make it suitable for jewellery use, and it is the second main origin of demand for platinum. The metal is solid, avoids tarnishing and can be heated and cooled frequently without strengthening or oxidising. Platinum is usually alloyed with other platinum-group metals such as palladium, as well as copper and cobalt when used to produce jewellery, so it is simpler to deal with. The tradition of jewellery made from platinum is long. Indigenous people in South America made rings and adornments out of platinum metal more than 2,000 years ago. Egyptians utilized platinum as early as the 7th century BC for decorating. Meanwhile, in the 18th century, Europeans started using metal in jewellery and tend to do so to this era. China is actually the main platinum jewellery sector. 

Industrial uses of Platinum

Industrial developments with Platinum could fill out an essay all of their own. Platinum catalysts, for example, are used to create pesticide products, and platinum is a major feature in silicones, disk drives, electronics, dental rehabilitation, glass processing tools, and home safety machine systems. The production of hard drives with exceptionally high storage concentrations is another application of platinum. And since platinum is reactive to oxygen, nitrogen oxides and carbon monoxide, it can be used in automobiles and buildings to identify changes in the quantity of such materials. For the same purpose, platinum is often used to monitor oxygen in medical sensors, particularly in medical devices that monitor blood gases. 

Uses of platinum in medical sector

In wireless medical devices such as those mentioned above, as well as in catheters, stents and devices for neuromodulation, Platinum has been used. Thanks to its durability, conductivity and low toxicity, it is suitable for these uses. Within the body, the metal is also sterile, rendering it suitable for implantation. Platinum can be moulded into rods, cables, ribbons, sheets and micromachine components to satisfy other medical needs. In addition, platinum is used in the medications cisplatin and carboplatin, which are often used to combat throat cancer, as well as ovarian, breast and lung cancer cancers. 

Gold Vs Platinum: Which Can Be A Better Investment Option?

Gold, at most from an investment viewpoint, is magnificent of precious metals. But some other precious metals like platinum and silver have their own position in the portfolio of a smart investor. With inherent value, they are tangible assets. More of them will not be issued by the Federal Reserve. Gold and platinum both have special characteristics of their own. Let's find out which precious metal is a safer investment in this gold vs. platinum comparison and why. Precious metals have drawn investors who are trying to diversify their stock, securities, and capital portfolios. Platinum has been deemed a higher sign of value and consistency for decades, largely because it's abundant and harder to extract. Global gold production peaked at 3,332 tonnes in 2018, equivalent to just 165 tonnes of platinum, according to US Funds. 

Gold

Among valuable metals, gold is by far the most common investment option.

In order to diversify their portfolio, large and small investors invest in gold, especially during unstable economic conditions when the S&P 500 may collapse. The yellow metal is robust, malleable, and serves as an inflation hedge. By ordering jewellery, coins, bars, bullion, derivatives, futures contracts, and gold ETFs, you can conveniently invest in Gold.  

 

 

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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