In fact, did you know? Even in the financial markets, platinum is a rather attractive presence, not only because of its scarcity but also due to its applications in multiple key areas. Platinum is much rarer than gold, with only about 0.005 milligrams per kilogram in the Earth's crust. However, despite this, its price has not long-term surpassed that of gold. It’s like a wonderful paradox: rarity brings value, while the long-term fluctuation of gold prices and the market's sentiment towards gold make it the star in the hearts of investors. Nevertheless, many people may wonder: is the price of platinum really higher than that of gold?

**The Magic and Practicality of Platinum**
Platinum, or platinum-colored gold, is a very rare element in the Earth's crust, with a silver-white color, a stable oxidation layer, and is difficult to dissolve in general acids. It is widely used in many industrial fields, such as automotive catalytic converters, jewelry, electronic products, and chemical processing. This is why the demand from the automotive industry accounts for more than half of the annual production of platinum.

Platinum's status in the jewelry industry is also irreplaceable, as the "noble" jewelry made from it not only has an outstanding luster but also possesses wear-resistant properties. However, due to its high price and rarity, many pieces of jewelry are now only plated with a layer of platinum rather than made entirely of platinum.

**Platinum Price Fluctuation**
In recent years, platinum prices have fluctuated, constrained by multiple factors such as market supply and demand, economic conditions, and geopolitical influences. More than 20 years ago, the trading price of this metal was sometimes less than $100 an ounce. After several significant market fluctuations, it reached an astonishing peak of $2,270 per ounce in 2008. Correspondingly, platinum prices also saw a high of $1,094 in 2024. This year, it is expected that platinum prices may "strive" to reach a level of $1,030 by the end of the year.

**Platinum VS Gold: Which is more expensive?**
Although at certain points in time the price of platinum has been significantly higher than that of gold, it has not surpassed gold's status in the long term. Gold often becomes a safe haven for investors during times of high inflation and economic instability, while platinum appears more like a "working metal" due to its widespread industrial applications. In fact, between 2018 and 2022, although the global economy faced shocks from events such as the Russia-Ukraine war, the coronavirus, and trade wars, the price of gold remained favored by institutional investors, while platinum continued to struggle in its supply and demand market.

**Advantages and Challenges of Platinum Investment**
Investors in platinum are actually not only concerned about price fluctuations, but also about its widespread application as an industrial metal and its substitutability with other precious metals, such as its potential as a palladium substitute. Given the political and economic stability of platinum production areas, there are still considerable concerns about the supply and demand situation for platinum in the market. Additionally, considering the long-term demand changes brought by electric vehicles gradually replacing traditional vehicles, investors must also remain highly vigilant.

Relatively speaking, although platinum is not absolutely stable in the precious metals market, its unique characteristics and applications as a rare metal, along with the investment opportunities brought by high Fluctuation, make many people still willing to try it boldly, especially during times of economic and political instability. Therefore, friends who are interested might as well keep an eye on its performance in the market and future development potential. As for your thoughts, feel free to leave a comment and chat!