Description Platinum is also usually more expensive than gold. Why is platinum more expensive than gold? More than 1,000 tons of gold are mined every year, but only a little over 150 tons of platinum are mined in a year. This scarcity makes platinum more expensive than gold most of the time. Platinum holds its value due to its rarity as a precious metal. While gold is a more commonly used precious metal for jewellery, the annual consumption of platinum creates a high demand and maintains its value over time. (Demand for platinum coins and bars is expected to surge by 49% in 2023, according to a new report, with a wider choice of coinage available to investors and collectors. According to the World Platinum Investment Council, demand for the precious metal will reach a three-year high, with manufacturers in Europe and North America increasing production to meet demand).
