Platinum Prices in the UK

Platinum price in the UK today

A gram of fine (999) platinum in the UK is 37.12 GBP right now, an ounce 1,154.48 GBP and a kilo 37,117.33 GBP. Platinum .950 costs 35.26 GBP per gram because it contains only 95.0% pure metal.

Sterling floats freely, so the platinum price in GBP depends on both the global platinum price and the pound's exchange rate against the dollar.

How we calculate these prices

We take the global price per ounce in dollars (1,544.00), divide by 31.1035 for the gram price, then multiply by the GBP exchange rate and the purity. Prices are indicative and exclude making charges or dealer margins.

Platinum purity grades in the UK

• Fine platinum .999: 37.12 GBP per gram — for bullion bars and coins.
• Platinum .950: 35.26 GBP per gram — the usual standard for platinum jewellery, stamped PT950 or PLAT.
• Platinum .900: 33.41 GBP per gram — also used in some jewellery.

What platinum is used for and what moves its price

Platinum is used in vehicle catalytic converters — especially diesel engines — jewellery, chemicals, glass-making and hydrogen fuel cells. Mining is concentrated in South Africa, which supplies roughly 70% of mined platinum, so mining and power news there moves the price.

Tips for buying platinum in the UK

• Platinum is denser than gold and does not corrode, but it develops a matte patina with wear that can be polished.
• Platinum bars and coins are less common than gold, so ask for the buy-back price before buying.
• Check the purity stamp on jewellery (PT950 or PT900).