Is Platinum Worth More Than Gold?

Gold vs Platinum Cost. While gold and platinum are similar in price per gram, platinum is more dense and so more of it is required to make a ring. 

platinum rings are usually 95% pure platinum, while 14k gold is only 58.5% gold(18k gold is 75% gold). Therefore, platinum rings are more expensive.

The Importance of Platinum

The per ounce cost will generally go down as the amount of ounces purchased goes up. For example, a dealer currently has a 1 ounce platinum Valcambi bar selling for $1,533 and a 10 ounce varied brand platinum bar selling for $15,030.

Not only is platinum less abundant than gold, it is found in only a few mine-able deposits on earth.  Most platinum is mined in South Africa, Russia, and North America. South Africa produces over half (to 2/3rds) of the world supply.  Russia is the next biggest producer.  The North American mines are primarily palladium mines with platinum being a small percentage of the metal production.  It takes about 10 tons of raw platinum ore to produce one pure ounce of platinum.