Value is determined by availability; the more rare something is the more valuable it becomes. There is very little platinum in existence and it is found in very few places around the world. Consequently the price of platinum is invariably higher than that of gold.
Platinum rings are generally 95% pure platinum in the UK. To compare, 18 carat gold jewellery is 75% pure gold; meaning with platinum you are getting more of what you are paying for. Because platinum is so dense, a platinum ring will always be significantly heavier that its equivalent in any other metal.
Further, platinum does not wear away, and does not require repeat visits to the jeweller to be re-plated.
Finally, because platinum has a far higher melting point that other precious metals, a high level of craftsmanship goes into the process of making a piece of platinum jewellery.
How much should I spend on my engagement ring and wedding rings?
There are no hard and fast rules. This is a very individual choice and the important thing is to find the best possible ring within a budget that suits you. Engagement and wedding rings are the outward symbol of your relationship and commitment to each other.
The wedding rings are the one item from your wedding budget that will last for the rest of your life. In the wedding planning these sometimes get overlooked, so plan time to make sure you get exactly what you want several months before the big day.