The chemical symbol for platinum is Pt, with an atomic number of 78. Pt is one of the rarest elements in the earth's crust and has an average abundance of approximately 0.005mg/kg.
The largest known primary reserves are in the Bushveld Complex in South Africa. In 2009, South Africa was the top producer of platinum with an almost 80% share, followed by Russia at 11%.
Platinum is used in laboratory equipment, dentistry equipment, jewelry and so on. Because it's such a scarce material, it is highly valuable and is a major precious metal commodity.
Currently, one ounce of gold is valued at approximately $1,344, whereas one ounce of platinum is valued at approximately $1,819.
Platinum is not the same as white gold. White gold is an alloy of gold and some white metals such as silver and palladium. For example, 18kt yellow gold is made by mixing 75% gold (750 parts per thousand) with 25% (250 parts per thousand) other metals such as copper and zinc. 18kt white gold is made by mixing 75% gold with 25% other metals such as silver and palladium. So the amount of gold is the same but the alloy is different. To keep a white gold ring looking its best it should be re-rhodium plated approximately each 12 to 18 months.
Platinum is a white metal, but unlike gold it is used in jewelry in almost its pure form (approximately 95% pure). Platinum is extremely long wearing and is very white, so it does not need to be Rhodium plated like white gold. Platinum is very dense (heavy), so a platinum ring will feel heavier than an 18kt gold ring.
Platinum is, however, very expensive. A platinum ring will be approximately twice the price of an 18kt white gold ring (excluding gemstone costs).
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