Platinum Price Today: Rates Ease on March 16 as Buyers Turn to Platinum Amid High Gold Prices

Platinum Price Today: Platinum Becomes Cheaper on March 16; Check Latest Rates in Major Indian Cities

Platinum prices in India witnessed a slight decline on March 16, 2026, offering some relief to buyers interested in this premium precious metal. The drop in rates comes at a time when gold prices remain at historically high levels, encouraging many consumers to explore platinum as an alternative for jewellery and investment.

According to the latest bullion market updates, the price of platinum in Delhi is currently ₹6,029 per gram, which means 10 grams of platinum is priced at ₹60,290. Similar rates have been reported across most major cities in the country, indicating that platinum prices remain largely uniform nationwide.

Markets such as Mumbai, Chennai, Ahmedabad, Kolkata, Jaipur, and Bhopal are also reporting platinum prices close to ₹60,290 per 10 grams.

Why More People Are Choosing Platinum Instead of Gold

One of the main reasons behind the growing interest in platinum is the significant difference in price compared to gold.

Currently, gold prices in India are hovering around ₹1.60 lakh per 10 grams, making it relatively expensive for many buyers. In comparison, platinum is available for nearly ₹63,900 per 10 grams, which is considerably lower than gold.

Because of this price gap, many jewellery buyers are now turning toward platinum as a stylish yet more affordable alternative. Consumers who want something different from traditional gold ornaments are increasingly choosing platinum jewellery.

Experts say platinum is becoming popular especially among younger buyers who prefer modern and minimalist jewellery designs. Rings, chains, bracelets, and engagement jewellery made from platinum are gaining popularity in urban markets.

Rising Demand for Platinum Jewellery

Platinum jewellery is widely known for its sleek appearance, durability, and modern aesthetic. Unlike gold, platinum jewellery often appeals to people who want a contemporary and elegant look.

Over the past few years, platinum has gained popularity in India’s jewellery market, particularly during occasions such as engagement ceremonies, weddings, and anniversaries. Many couples now prefer platinum rings for engagements due to their premium appeal and long-lasting shine.

Jewellers also report that buyers increasingly prefer platinum because it is rare, naturally white, and highly resistant to corrosion, which means it maintains its appearance for a long time.

With rising gold prices, platinum is gradually emerging as a value-for-money option for consumers looking to purchase precious metal jewellery without spending excessively.

Platinum Prices in Major Indian Cities (March 16, 2026)

Below is the latest platinum price in some of the country’s key cities:

Cities such as Hyderabad, Bengaluru, Indore, and Surat are also reporting nearly identical rates, reflecting stable pricing across the country.

Things to Check Before Buying Platinum

While platinum may appear more affordable compared to gold, buyers should still take certain precautions before making a purchase.

Experts advise checking the latest market price, purity level, and making charges before buying platinum jewellery. Like gold and silver, platinum prices can fluctuate depending on international market trends, currency movements, and demand in the global jewellery and automotive industries.

Consumers should also ensure that the jewellery is certified and hallmarked, which guarantees the authenticity and purity of the metal.

Market Outlook for Platinum

The demand for platinum is expected to remain stable in the coming months, especially if gold prices continue to stay elevated. As more consumers explore alternatives to gold jewellery, platinum could see further growth in popularity across India.

With its combination of modern style, durability, and relatively lower price, platinum is increasingly becoming a preferred choice for buyers looking for a premium yet cost-effective precious metal.