Platinum or white gold: why the stamp matters more than the shine

White gold and platinum can look almost identical in a jewellery box. At today's prices, the metal inside them is not worth the same. Gram for gram, a platinum ring now holds about half the metal value of an 18 karat white gold ring.

Where the prices stand

On 13 October 2026, gold traded at $4,184.28 per troy ounce. Platinum stood at about $1,666 on the same day. Gold is therefore worth roughly two and a half times as much as platinum. Over the past month, platinum fell by about 6%, and it is around 43% below its record of $2,923.70 from January 2026, according to Trading Economics.

We report these numbers because they change what a piece of jewellery is worth today. They say nothing about where prices go next, and nothing here is advice on whether to buy, sell or hold.

Less platinum jewellery is coming back

In its Platinum Quarterly for the second quarter of 2026, published on 9 September 2026, the World Platinum Investment Council reports 68,000 ounces of platinum recycled from jewellery. That is 24% less than a year earlier. Total platinum recycling still rose 9%, to 466,000 ounces, because more came back from car catalysts and industrial uses. Demand for new platinum jewellery fell 32% to 456,000 ounces.

Colour tells you little

White gold is a gold alloy, and it is often plated with rhodium. The plating gives it a bright white finish that can make it hard to tell apart from platinum by eye, and it wears away over time. In the United States, the FTC's jewelry guides say a rhodium surface layer should be disclosed on items described as precious metal.

The stamp is the better guide. White gold carries a gold fineness such as 585 (14 karat) or 750 (18 karat). Platinum is marked Pt or Plat with a number in parts per thousand, most often 950. Under the FTC's guides, an item may be called simply "platinum" only if it contains at least 950 parts per thousand; 850 and 900 are marked with the number. Germany's Fineness Act covers gold and silver wares only.

How melt value follows

The calculation is the same for every precious metal: weight × fineness × spot price. Spot price per gram is the price per troy ounce divided by 31.1035. On 13 October 2026, a gram of pure gold was worth about $134.53, a gram of pure platinum about $53.58.

For a 10 g ring, the estimated metal value at those prices:

• Pt950 platinum: about $509
• 375 gold (9 karat): about $504
• 585 white gold (14 karat): about $787
• 750 white gold (18 karat): about $1,009

A 950 platinum ring of the same weight now sits close to 9 karat gold. One detail softens the gap: platinum is denser than gold, so a platinum ring of the same size weighs more than its white gold twin. That is why the weight on the scale matters more than the look of the ring.

What the formula leaves out

Melt value is a starting point, not an offer. What a buyer pays depends on their own testing, refining costs and terms. Stones, workmanship, maker and age can add value that has nothing to do with the metal. And the formula depends on the stamp being right: marks can be worn, foreign or forged. If a piece matters, have it tested independently.

IsItGOLD? uses machine vision to estimate the metal and its fineness and, with the weight you add, shows an estimated value based on today's spot price.

Sources

• USAGOLD, Daily Precious Metals Market Report (13 October 2026)
• Trading Economics, Platinum (retrieved 14 October 2026, price as of 13 October 2026, CFD)
• World Platinum Investment Council, Platinum Quarterly Q2 2026 press release (9 September 2026)
• GIA 4Cs, Choosing between white gold, platinum, palladium and silver (updated 30 May 2025)
• FTC, Guides for the Jewelry, Precious Metals, and Pewter Industries, 16 CFR Part 23, §§ 23.6, 23.7
• Gesetz über den Feingehalt der Gold- und Silberwaren (Germany)

This article was drafted with the help of AI and checked against the sources above.