Current Platinum Price Per Gram UK
999 fine platinum per gram
Updated: 3 October 2026 at 09:12
Today's platinum price per gram: £38.98 (950 standard), £41.03 (999 fine). Currently £59.55/g cheaper than gold.
Gold Per Gram
£100.58
24ct / 999
Platinum Per Gram
£41.03
999 fine
Gold:Platinum Ratio
2.45:1
Platinum £59.55/g cheaper
Live market rates updated daily
| Purity | Hallmark | Per Gram | Per 10 g |
|---|---|---|---|
| Fine Platinum | 999 | £40.99 | £409.89 |
| Standard Platinum | 950 | £38.98 | £389.79 |
| 900 Platinum | 900 | £36.93 | £369.27 |
| 850 Platinum | 850 | £34.88 | £348.76 |
999 Platinum
£40.99
per gram
950 Platinum
£38.98
per gram
900 Platinum
£36.93
per gram
850 Platinum
£34.88
per gram
Fine (999) platinum is currently £41.03 per gram in the UK. This is derived from the international spot price of £1,276.24 per troy ounce, divided by 31.1035 grams.
For jewellery-grade 950 platinum, the price per gram is £38.98, adjusted for the 95% platinum content.
No — gold is currently more expensive. Gold trades at £100.58 per gram compared to platinum at £41.03 per gram — a difference of £59.55 per gram.
The gold-to-platinum ratio is currently 2.45:1, meaning you could buy 2.45 grams of platinum for every gram of gold. Historically, platinum traded above gold until 2014. The shift was driven by:
Some analysts view the current discount as a buying opportunity: platinum is 30× rarer than gold in the Earth's crust, it rose 144% in 2025 to a record $2,811/oz on 26 January 2026, and even after falling 44% to $1,567 by 30 June (it was about $1,715 on 30 September), it remains in a structural supply deficit with above-ground stocks covering under three months of demand. Retail bar and coin demand is up ~27% (Metals Focus).
Almost all platinum jewellery sold in the UK is 950 purity (95% platinum). This is significantly higher than typical gold jewellery — 18ct gold is only 75% pure, and 9ct gold is just 37.5%.
The remaining 5% alloy in 950 platinum is usually ruthenium or cobalt, added for hardness and workability. Unlike gold, where multiple purities are common (9ct through 24ct), platinum jewellery in the UK is almost exclusively 950.
The global platinum price is determined by the LPPM (London Platinum and Palladium Market), which conducts two daily electronic auctions:
The fix price is set in US dollars per troy ounce, then converted to local currencies. The UK price in GBP therefore depends on both the dollar platinum price and the GBP/USD exchange rate.
| Grams | Troy Ounces | 999 Platinum Value |
|---|---|---|
| 1 g | 0.0322 oz t | £40.99 |
| 5 g | 0.1608 oz t | £204.94 |
| 10 g | 0.3215 oz t | £409.89 |
| 20 g | 0.6430 oz t | £819.78 |
| 50 g | 1.6075 oz t | £2,049.45 |
| 100 g | 3.2151 oz t | £4,099 |
| 500 g | 16.0754 oz t | £20,494 |
| 1000 g | 32.1507 oz t | £40,989 |
Fine (999) platinum is £41.03 per gram. Jewellery-grade 950 platinum is £38.98 per gram.
No. Gold is currently £59.55 more per gram than platinum (gold: £100.58/g, platinum: £41.03/g). The gold-to-platinum ratio is 2.45:1.
There are 31.1035 grams in one troy ounce. At current prices, one troy ounce of fine platinum is worth £1,276.24.
VAT (20%) is charged when purchasing platinum bullion, unlike gold which is VAT-exempt for investment products. When selling platinum, you receive the full agreed price with no VAT deduction.
Despite being ~30× rarer than gold in the Earth's crust, platinum trades lower mainly because gold draws far more investment and central-bank buying. It is not an oversupply story: platinum has run a supply deficit for four straight years (~297koz in 2026, per Metals Focus), and above-ground stocks now cover under three months of demand.
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