Metal price ratios
Gold to platinum ratio today
The gold to platinum ratio is how many troy ounces of platinum one troy ounce of gold buys. A ratio above 1 means gold is the more expensive metal, which was the unusual case for most of the twentieth century and is the ordinary case now.
Ounces of platinum per ounce of gold
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Ratio unavailable
- gold spot
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- platinum spot
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- Ratio
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- Inverse
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The gold and platinum price shown was recorded when this page was published. Figures calculated from it appear once the live price loads, so nothing here is worked out from a number the market may have left behind.
What a swap would give you
Troy ounces of pure metal. A one ounce bullion coin is rarely one ounce of alloy — check its fineness if you are working from a coin rather than a bar.
Would buy, in platinum
ratio unavailable
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Value of the holding
Metal only, at spot
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Common holdings
| Gold held | Value | Buys, in platinum |
|---|---|---|
| 1/10 ozt | — | — |
| 1/4 ozt | — | — |
| 1/2 ozt | — | — |
| 1 ozt | — | — |
| 10 ozt | — | — |
What the ratio tells you
Platinum is an industrial metal with a monetary following; gold is a monetary metal with industrial uses. The ratio moves on autocatalyst demand and South African supply as much as on anything a gold holder watches, which is why the two prices came apart.
Worth knowing
Platinum is far scarcer than gold in the earth’s crust and far more concentrated in its production: a small number of mines in South Africa and Russia account for most of the world’s supply. Scarcity and price are not the same thing, and this pair is the clearest demonstration of it.
The figure above is the live gold spot price divided by the live platinum spot price, both per troy ounce, and is shown only when both are genuinely live.