Today's Platinum Price in Pakistan - 1st August 2024

Platinium Type	Rate
1 Gram	8,751
10 Gram	87,513
1 Tola	101,967
1 Ounce	248,009
1 Kg	8,751,300

Today’s Platinum Price

To Check today’s Silver Rate Click Here.

Platinum is a shiny, white metal that’s strong and doesn’t rust or tarnish. Platinum Price also depends upon lots of factors like other precious metals. It’s scarce and precious, often used in making jewelry because it looks beautiful and lasts a long time.

Besides being a favorite for rings and necklaces, platinum is also important in industries.

It’s used in car parts called catalytic converters to help reduce pollution.
In factories, platinum helps make chemicals like nitric acid and silicone.
It’s also safe to use inside the body, so doctors use it for things like pacemakers and dental work.
Even though it’s expensive, people keep using platinum because it’s so useful and reliable.

Platinum Prices in Major Cities of Pakistan

City	1 Tola	10 Gram
Karachi	101,967	87,513
Islamabad	101,967	87,513
Rawalpindi	101,967	87,513
Lahore	101,967	87,513
Quetta	101,967	87,513
Multan	101,967	87,513
Sialkot	101,967	87,513
Hyderabad	101,967	87,513

Platinum price in Major Cities of Pakistan

Platinum Comparison With Silver, Gold, and Other Relevant Metals:

Property	Platinum	Silver	Gold	Palladium	Rhodium
Appearance	Silvery-white	White	Yellow	Silvery-white	Silvery-white
Density (g/cm³)	21.45	10.49	19.32	12.02	12.41
Melting Point (°C)	1768	961	1064	1554	1964
Corrosion Resistance	Excellent	Poor (tarnishes easily)	Excellent	Very Good	Excellent
Hardness (Mohs)	3.5-4	2.5-3	2.5-3	4.75	6
Common Uses	Jewelry, catalytic converters, medical devices	Jewelry, electronics, tableware	Jewelry, electronics, investment	Jewelry, catalytic converters, electronics	Catalytic converters, plating
Cost	Very High	Low to Moderate	Very High	High	Very High
Electrical Conductivity	Good	Excellent	Very Good	Good	Good

Platinium Comparison

This table highlights each metal’s key properties and uses, showcasing how platinum compares to silver, gold, palladium, and rhodium.

You may also like to read the latest Blog “AI Chatbots Prediction Regarding Gold and Silver Prices“.

GOLD VS PLATINUM

Aspect	Gold	Platinum
Value	Gold is often considered a safe investment and a sign of wealth.	Platinum’s value comes from its rarity and use in industries.
Commonality	Gold is a more common metal and has been used for centuries as currency and jewelry.	Platinum is rarer than gold and is often used in things like car parts and making electricity.

Gold vs Platinum

This format highlights the key distinctions between gold and platinum in terms of their value, commonality, and uses.

Sources of Platinum Around The World

As discussed above Platinum is a rare and valuable metal with a variety of industrial, medical, and jewelry applications. The major sources of platinum are concentrated in a few regions around the world, with the most significant deposits found in South Africa, Russia, and North America.

Here’s an overview of the primary sources.

Rank	Country	2022 Production (kg)	Major Mines/Locations
1	South Africa	140,000	Bushveld Complex, Merensky Reef, Platreef, UG2 Reef
2	Russia	20,000	Norilsk Nickel’s Taymyr Peninsula, Ural Mountains
3	Zimbabwe	15,000	Great Dyke (Mimosa, Ngezi, Unki Mines)
4	Canada	6,000	Raglan Mine, Lac des Iles Mine, Sudbury Basin
5	United States	3,300	Stillwater Mine
6	China	2,800	Various locations
7	Finland	1,243	Various locations
8	Japan	1,747	Various locations

Primary Sources of Platinum

Factors Influencing the Price of Platinum in Pakistan

Factor	Prices are influenced by global availability and demand, particularly from the automotive and jewelry sectors.
Global Supply and Demand	Platinum Price is influenced by global availability and demand, particularly from the automotive and jewelry sectors.
Currency Exchange Rates	Fluctuations in the PKR against major currencies like USD impact import costs, affecting local platinum prices.
Economic Conditions	Inflation, interest rates, and overall economic health influence investment demand for platinum.
Geopolitical Stability	Political events and stability in platinum-producing regions affect supply and prices.
Industrial Uses	Increased industrial demand, especially for catalytic converters in vehicles, can drive prices up.
Market Speculation	Investor behavior and market speculation can cause short-term price volatility.
Import Policies	Tariffs, duties, and import regulations in Pakistan can impact the final price of platinum.

Factors Influencing the Price of Platinum in Pakistan

FAQs

Platinum is primarily used in catalytic converters for automobiles, jewelry, and various industrial applications such as chemical processing and electronics. Gold, on the other hand, is extensively used in jewelry, investment (bullion and coins), and electronics. Silver has a wide range of uses including jewelry, investment, electronics, solar panels, and photographic applications.

Historically, platinum has often been more expensive than gold due to its rarity and high industrial demand. However, the price relationship can fluctuate based on supply and demand dynamics in different markets. Silver is generally much less expensive than both platinum and gold, but its price is also influenced by industrial demand and economic factors.

Platinum is rarer than gold and silver due to its lower abundance in the Earth’s crust and the complexities involved in its mining and refining processes. While gold and silver can be found in higher concentrations, platinum is often found in smaller quantities, primarily in specific geographic locations like South Africa and Russia.

The platinum Price is influenced by its industrial demand, particularly in the automotive industry for catalytic converters, and supply conditions in major producing countries. For gold, factors such as geopolitical stability, inflation, and currency fluctuations play significant roles. Silver prices are affected by both its industrial applications and investment demand. All these metals can be influenced by market speculation and economic conditions.

Yes, platinum can be used as an investment and is available in the form of bullion bars, coins, and exchange-traded funds (ETFs). However, its investment market is smaller compared to gold and silver. Investors often consider platinum as a diversification tool due to its unique industrial demand and supply factors. It is also perceived as a hedge against inflation and economic instability, similar to gold and silver.