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by Answer Rabbit on April 6th, 2006

Answer Rabbit

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Why are platinum jewelry settings more expensive than gold or silver settings?

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  • by PhilDoc on April 6th, 2006

    PhilDoc

    Because of the relative rarity of platinum in relation to silver or gold, the price of platinum is consistently higher that that of the others. As of April, 2006 the spot price of platinum was approximately $1100 US per ounce while the price of gold was approximately $600 US per ounce of gold. Because of these prices, the settings are more expensive as well.

    Comments

    • your rarity statment is incorrect. platinum is a full order of magnitude MORE common than is gold, meaning there is 10 times more platinum than gold in the earth. I have been trying for a long time to find the cause of the increased cost of platinum and the only thing I can figure out is that it has so many vital industrial uses while gold is little more than jewelery.

      TAPriceCTR s son is wearing his COAT

      by TAPriceCTR s son is wearing his COAT on May 3rd, 2011

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