Platinum Industry outshines the glitter of gold
Beating the shine by the glitter of gold, platinum is a rarer, but equally precious. Investing in this dignified metal has not attained the goal mostly because, till date, it has commanded a better price than gold. However, the zooming price of the yellow metal over the past few years has made platinum more competitively priced. Platinum Industry experts believe that the present situation may continue for a few longer. This is often because the worldwide economy is experiencing a painful restructuring.
Platinum is an extension to metal and is affordable to the well-off class of society and also reachable even to the middle class customers. Both the experts of the platinum industry and the jewelry retailers are changing their opinion bit by bit in regard to the exclusiveness of platinum jewelry.
- Never forget to check certification
Like any product, buying of valuable metal is directly related to the purity and authenticity of the products, including the metal. The purity of metal is defined by the hallmark. In case of platinum it is shown in a different way in several countries. For instance, it is stamped with Pt950 mark in India and it signifies 95% clarity.
Be certain to get the tamper proof Quality Guarantee Cards. In addition to this, every jewelry has a Unique Identification Number (UIN) embossed on it to identify the maker of the jewelry.
Always remember the making charge of the Jewelry item
The making charge is the amount of money that the buyers need to pay for the time and labor of the jeweler involved in manufacturing the piece. These charges are normally proportionate to the price of gold. Therefore, the higher the cost of the platinum jewelry is, the higher the purchased price of the making charges might be.
- The reason for higher making charges
Well, there are several reasons for the higher making charges. The primary one is that of platinum. The metal is a tough enough that require higher melting point for methodical carving and refining. Now the platinum industry is based on the factories with costly manufacturing units and the expert craftsmen. Secondly, India needs to import platinum mostly from South Africa as it has minimum platinum reserves. These issues are responsible for the higher making charges.
While in the past the costs of platinum were at the top, but today they seem to be at par currently with gold. The global prices of gold on 27 October that ended at $1,226.55 per ounce while platinum which ended at $1,257.25 per ounce.
The price of gold changes almost every day following the market cost.
Most of the Jewelry shops generally display the daily rates for the buyers. As far as platinum industry is concerned there is hardly any standard pricing. Until 2002-03 it was sold in fixed prices which differ between 4-5%. It is fairly difficult to calculate the prices. The best way to manage the condition is to check the making charges and metal prices separately. Sometimes the retailers are found to decrease the value of platinum and boost the labor charges. Thus, it’s important to check the prices before you purchase platinum in order to be ascertained that you will get the best deal.
- Know from your jeweler about buyback schemes
May be you are not ever wish to be with your ancestral jewelry, but may be at some point of time you might like to exchange those jewelry with a couple of platinum jewelry that you have bought recently. If, you would ever, search that opportunity, be sure that you have with you the original cash receipt that includes the official document of purity. If you attend the corresponding jeweler who sold you the pieces of jewelry, be ready with the whole amount for the load mentioned even as the gold jewelers take away the making charges during shopping back metal from the platinum industry.
Over gold the platinum has earned reputation for several reasons. As an example, gold is more abundant in the earth’s crust than platinum. While gold is mined 1,500 tons every year Platinum Industry is additionally heavier than gold. Due to this, precious metals are priced by weight, platinum has been acknowledged as higher-cost option in the context of shopping jewelry.
If flips between white gold and platinum about the similar visual then the platinum gets better on the other. In order to achieve silvery hue on the white or gold it must be blended with the white metal/s for instance nickel, silver, palladium, manganese etc.
Nickel especially contains substance that causes allergy for several people. So it has got some tickly reputation. Even as there is hardly anything like ‘pure white gold’, platinum, of course, is grey-white in color which may be sold like platinum under the condition of 90-95% purity. It not only has made it hypo-allergenic, but also guarantees it as no fade guarantee. This trait is inherent in every bit of platinum ornamentation.