Platinum Rate in Bangalore

Platinum continues to be one of the most sought-after precious metals in Bengaluru, especially for jewellery lovers and long-term investors. The city’s demand for designer platinum jewellery and wedding collections makes its daily price movements important for buyers. Platinum rates in Bangalore change every day based on global market trends, currency value against the US Dollar, and import duties in India.

If you're planning to buy or invest in platinum, keeping an eye on the recent price trend helps you make a smarter purchase decision. Below, we’ve listed the latest platinum rates for the past 10 days in Bengaluru, including prices for 1 gram, 10 grams, and 100 grams, so you can easily compare how the rates have moved.

Gold vs Platinum Investment

Gold investment: The value of gold dates back thousands of years, to the time of the ancient civilizations. Although gold used to be the foundation of monetary systems, its value now varies based on supply and demand. Similar to platinum, Gold is in demand in the industrial sector because it is used in electronic devices, aerospace, dentistry, and more. However, unlike platinum, industrial applications do not have as much of an impact on the price of this metal. The jewelry industry and the investment sector account for the majority of the demand for gold. 

It serves as a diversification tool for investors in times of economic downturn. Because of this, prices tend to rise during an economic slowdown or crisis. Like platinum, gold is an investment that can be made through physical purchases. You can buy coins or bullion from banks, coin dealers, and brokerages. You can also buy stocks, exchange-traded funds (ETFs), or mutual funds that invest in gold in case you don't want to make physical investments. 

Platinum Investment: The World Platinum Investment Council estimates that platinum is approximately thirty times rarer than gold. In comparison to 3,300 metric tons of gold, about 190 metric tons of platinum are mined globally each year. Platinum has multiple uses because of its structure. It is useful in industries because it is very malleable and dense. Platinum has applications in various sectors such as jewelry, automobiles, and aircraft industries. Industrial supply and demand mainly impact the price of platinum.

Factors like supply constraints and regional demand, such as the platinum price in Bangalore, also play a significant role in determining its market value.  Therefore, it has more price fluctuations compared to gold. Coins and other physical forms of trading in platinum are available. You can invest in stocks, ETFs, or mutual funds that hold platinum bullion.

Renowned Platinum Shops in Bangalore

1. Sri Ganesh Diamonds and Jewellery

1. Mangalore Jewels
2. Aabushan
3. Praveen Jewels
4. C Krishniah Chetty & Sons
5. V M Jewellers 
6. Kalyan Jewellers
7. Malbar Gold & Diamond

How to Invest in Platinum?

Similar to gold and silver investments, there are many ways to invest in platinum. Platinum can be bought as bullion, however, there are other ways to invest in the precious metal like stocks and ETFs. The different options to invest in platinum are as follows: 

Physical Platinum

The easiest way to invest in platinum is in physical form, but there are additional factors to take into account, such as insurance and storage. Bars, coins, rounds, and ingots are among the forms of platinum bullion that can be bought, similar to Gold and Silver. Precious metal dealers sell these physical assets, which can be kept in secure vaults or safe deposit boxes. Rare coins and other collectable platinum items may be worth more than just the platinum's spot price because of their historical importance and rarity.

Platinum Stocks

Platinum stocks, which are usually shares in businesses that are into mining, processing, or using platinum, are another option for investors. Similar to platinum ETFs, these stocks are usually traded on stock exchanges. Thus, investors get exposure to the platinum market without the need to possess physical platinum. Remember that the number of platinum stocks is lower than that of gold stocks.

Furthermore, it is important to analyse a company's operations before you invest in it. This is because some platinum mining companies might not have platinum as their main asset.

Platinum ETFs

Platinum ETFs help investors invest in the metal without the requirement to hold physical platinum. These funds invest in securities backed by platinum, which may include stocks of companies which mine platinum. Investing in ETFs offers two main advantages. Firstly, you can increase your exposure to the underlying asset by pooling your money with that of other investors. Secondly, the investment is distributed among several securities, which lowers the risk. However, note that ETFs have expense ratios that include marketing, administrative, and management costs.