Platinum Price Today

How to calculate the value of platinum

Platinum jewelry is almost pure, but not quite: Pt950 is 95% platinum and 5% other metals. Its melt value is the pure platinum it contains, priced at the spot price:

pure platinum (g) = weight (g) × purity     (Pt950 = 0.95)
price per gram    = spot price per troy oz ÷ 31.1035
melt value        = pure platinum (g) × price per gram

So a Pt950 wedding band weighing 8 grams holds 8 × 95% = 7.6 grams of pure platinum, and its melt value is 7.6 times today's platinum price per gram. That's the floor for what the metal is worth. A jeweler's price adds design, labor and margin, and a refiner's offer usually sits below it.

How to use the platinum calculator

1. 1

   Find the purity mark

   Look inside a ring band or on a clasp: PLAT, PT950, 950, 900 or 850. Pick it in the purity menu.

2. 2

   Weigh the item

   Use a jewelry scale in grams if you can. Troy ounces, pennyweight, kitchen-scale ounces and kilograms are also supported.

3. 3

   Subtract the stones

   Diamonds and gemstones add weight but no platinum, and so do gold parts in a two-tone piece. Enter their weight so they're left out.

4. 4

   Read the melt value

   The calculator multiplies the pure platinum content by the live spot price. Add a price you were quoted to see how it compares.

Frequently asked questions

What is the platinum price today?

The price at the top of this page is the live spot price for one troy ounce of pure platinum, refreshed every minute. The spot price is what platinum trades for on the wholesale market right now. Change the currency to see it in euros, pounds, rupees and 14 other currencies, along with the platinum price per gram, per kilogram and per pennyweight.

How much is platinum worth per gram?

Pure platinum per gram is the spot price per troy ounce divided by 31.1035. Jewelry is usually 95% platinum (Pt950), so a gram of a platinum ring is worth 0.95 × that. The live price per gram for each purity is in the table above.

What do platinum marks like PT950 and 900 PLAT mean?

They give the platinum content in parts per 1,000. PT950 or 950 PLAT is 95% platinum, the most common standard for platinum jewelry; 900 and 850 are 90% and 85%. In the US, a piece marked only PLAT or PLATINUM has to be at least 95% platinum; lower purities must show the number, such as 900 PLAT.

Is platinum more expensive than gold?

It depends on the day. Platinum traded above gold for most of the 20th century, but has been cheaper than gold for most of the time since 2015. Compare today's live prices side by side on the precious metal prices page. Platinum rings can still cost more than gold ones, because they're purer and platinum is denser, so a ring of the same size holds more metal.

What is the difference between platinum and white gold?

Platinum is a naturally white metal, and jewelry is usually 95% platinum. White gold is gold alloyed with white metals and usually plated with rhodium for its bright finish; 14K white gold is only 58.3% gold. Use the gold calculator for white gold: its value depends on its karat, not its color.

How much will a buyer pay for my platinum?

Refiners and buyers generally offer less than full melt value, since they have to cover refining costs and make a margin. How much less varies by buyer and quantity, so we don't publish a single percentage. Use the melt value here as your reference point, enter each offer as the quoted price, and compare.

What is the difference between a troy ounce and a regular ounce?

Platinum is priced per troy ounce, which is 31.1035 grams. A regular (avoirdupois) ounce, the one kitchen scales use, is 28.3495 grams, about 9% lighter. Jewelers often weigh in pennyweight (dwt), which is one-twentieth of a troy ounce.

Where does the platinum price come from?

Prices come from Gold API (gold-api.com), a real-time precious-metals price feed, and are converted into the currency you pick. Each price shows the time it was last updated. If the feed stops responding, the tool keeps showing the last price it received and says so, rather than showing nothing.

Can I add this platinum price to my website?

Yes. Scroll to 'Add a live platinum price widget to your site', choose a currency and a light or dark theme, and copy the two-line embed code into your page. The widget updates itself every five minutes, needs no API key, and is free to use.