When it comes to pricing up your wedding ring, your choice of metal will be the biggest factor. As a general rule, platinum is more expensive than gold.
One reason for this is that precious metals are bought and sold by weight. As platinum is a heavier metal than gold, you get less of it for the same price.
However, the prices of precious metals do fluctuate. Sometimes a platinum ring will set you back almost twice as much as the same ring in 18k gold. At other times, platinum prices can be only 20-30% higher. Some of the factors affecting price are:
Supply and demand
The prices of gold, platinum and other precious metals are at the mercy of global supply and demand. If supply is restricted and demand rises, so do prices.
Metal commodities are traded in dollars so are inextricably linked to the strength of the dollar – though maybe not in the way you’d expect. When the dollar price falls, the price of gold actually goes up, partly due to…
If the economy looks grim, sales of gold increase because investors believe gold will always be valuable – it’s seen as a “safe” investment. This graph shows how the price per gram of gold, platinum and palladium in our wedding rings has changed over time:
Commodity Price Graph
The Quality Diamonds Difference
Many jewellers price individual wedding ring designs according to their popularity. As more fashionable styles are in higher demand, these jewellers will charge you a premium for them.
At Quality Diamonds, we prefer a simpler approach. All our wedding rings are priced by weight so you pay for the metal, not the style. And because our rings are made to order, our prices reflect the current market values of the precious metals we use meaning you don’t pay any more than you have to.