Platinum: The Metal That Refused to Chase the Crowd

Platinum was once the rebel among precious metals. In the early 2000s, when gold hovered around ₹5,500 per 10 grams, platinum commanded nearly ₹6,800 per 10 grams — the mark of a metal rarer and harder to extract. It shimmered in elite jewellery counters and car factories, not wedding vaults. For a moment, it seemed ready to dethrone gold.

But history had other plans. Platinum’s strength lies in industry — it’s vital for catalytic converters that cut car emissions. When automobile sales slowed and electric vehicles rose, demand softened. The very technology that once made platinum shine began to replace it. As global demand dipped, so did prices, falling behind gold through the 2010s.

In India, platinum never became an emotional metal. Gold carries memory; platinum carries modernity. People buy it for its cool tone or status, not for safety. You rarely hear someone gifting platinum for security or pledging it for a loan. That cultural distance matters — it’s why a gram of gold can move hearts faster than a gram of platinum can move markets.

Still, platinum has a quiet dignity. It doesn’t tarnish, it’s denser than gold, and its supply is far smaller. Most of it comes from mines in South Africa and Russia — regions often facing political and logistical strain. Scarcity gives it value, but not the kind of value you flaunt at family gatherings.

Even so, whispers of change remain. Some urban buyers now see platinum as a symbol of understatement, a contrast to gold’s traditional glow. For them, it’s less about price, more about personality — a statement that says, “I value rarity, not noise.”

The next chapter will step into that gap between logic and emotion: why, despite its rarity and beauty, platinum still struggles to win everyday trust — and what might finally shift that perception.