Platinum on NSEL

#1
I understood platinum is more costly than gold but if you look at the nsel website platinum per gram is quoting much less than gold?

Is nsel secure to trade and what prices is it quoting? Check below.

e-Series
23 Apr 2012 23:19
Symbol Unit Buy Price Sell Price BuyQty SellQty LTP Open High Low
E-GOLD 1 GRAMS 2843.50 2851.00 1000 417 2843.00 2840.00 2868.70 2835.00

E-PLATINUM 1 GRAMS 2827.00 2835.00 1 1 2821.00 2854.00 2862.00 2820.00
 
#3
Wow! I think this is the first time platinum has come below gold but in jewellery shops they charge around 3300 for platinum?

(Link removed by admin).
 

Alchemist

Administrator
Staff member
#4
Wow! I think this is the first time platinum has come below gold but in jewellery shops they charge around 3300 for platinum?

(Link removed by admin).
I don't think that is the case. Platinum and gold prices are almost the same at retail level.

From an article dated 23rd April 2012:

Also, many orders for uncut diamonds and platinum ornaments studded with diamonds are being placed this season." Gold, which was priced around Rs 22,500 per 10 gm last year has risen significantly by Rs 5,000 this year and the price of platinum is ruling at Rs 26,410. More and more consumers are looking to buy platinum jewellery this time.
This Akshaya Tritiya more consumers may opt for platinum - Times Of India
 

magnet

Active member
#5
As far as my knowledge goes platinum is more rare than gold. Hence expensive.But since the world follows the gold trend it has almost reach the same price hence people also think there is a bubble in gold.

Anyways just wanted to ask anyone has a NSEL account over here? I have some doubts regarding it.
 

Alchemist

Administrator
Staff member
#6
As far as my knowledge goes platinum is more rare than gold. Hence expensive.
Supply alone doesn't determine the price of a commodity. Demand is equally important too.

Gold is the preferred metal for jewellery and value preservation, whereas platinum is mostly used in industries.

As the world economy has been weak in the last few years, industrial demand for platinum has been affected and thus its price has remain subdued (compared to gold).
 
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