Home / Platinum Price / India
🇮🇳 Platinum Price Today in India | ₹162,501
Live platinum price in Indian Rupee (INR) — updated every minute
Last updated: May 4, 2026, 01:01 PM ET
Per Gram (INR)
₹5,224.53
Per Troy Oz (INR)
₹162,501
Per Kg (INR)
₹5,224,525
USD/Platinum Spot
$1,946.12/oz
USD/INR Rate
1 USD = 83.5 INR
Gold/Platinum Ratio
2.32:1
About Platinum Investing
Platinum is one of the rarest metals on Earth, with annual mine production roughly 15 times smaller than gold. South Africa dominates global supply, producing approximately 70% of the world's platinum from the Bushveld Complex. The metal has diverse industrial applications — primarily in automotive catalytic converters, hydrogen fuel cells, and petrochemical refining — while also serving as a monetary asset and jewellery material particularly popular in Japan, China, and India.
Platinum price in India: what drives it?
The platinum price in India in INR is determined by the global USD spot price and the USD/INR exchange rate. Local factors include import duties, GST or VAT on precious metals, and local industrial demand from automotive and chemical manufacturing. Investors in India can access platinum through physical bars and coins, ETFs, or commodity futures.
Frequently Asked Questions — Platinum in India
What is the platinum price today in India?
The platinum price in India is calculated from the international USD spot price multiplied by the USD/INR exchange rate. Platinum is priced globally on NYMEX and the LBMA in US dollars per troy ounce.
Why is platinum more expensive than silver but cheaper than gold right now?
Platinum is rarer than gold — annual mine production is roughly 200 tonnes versus 3,300 tonnes for gold. However, platinum prices reflect both supply conditions and industrial demand. About 40% of platinum demand comes from automotive catalytic converters, which means platinum prices are sensitive to vehicle production cycles and emissions regulations.
Is platinum a good investment in India?
Platinum can serve as both a monetary and industrial metal investment. It trades at a discount to gold historically rare but current supply/demand dynamics make it compelling. Investors in India can access platinum through ETFs, futures, or physical platinum bars and coins. Always consult a qualified financial advisor before investing.
Where does platinum come from?
South Africa accounts for approximately 70–75% of global platinum mine production, primarily from the Bushveld Igneous Complex. Russia is the second-largest producer via Nornickel. Zimbabwe, Canada, and the United States produce smaller quantities. This geographic concentration in South Africa creates supply-side volatility from labour disputes and energy challenges.