Platinum prices witnessed a mild decline on Friday, May 15, 2026, following a soft trend in the broader precious metals market. Along with gold and silver, platinum also recorded slight weakness as investors remained cautious amid global economic uncertainty and changing market conditions.
According to the latest bullion market update, platinum prices dropped by around ₹360 and are currently trading near ₹65,000 per 10 grams across major Indian cities. The price of 1 gram of platinum is hovering around ₹6,500.
Why Platinum Demand Is IncreasingEven though platinum prices have softened slightly today, market experts say demand for the metal is steadily rising in India. One of the biggest reasons behind this trend is the continuous surge in gold prices.
Gold prices in many cities have crossed ₹1.5 lakh per 10 grams, making traditional gold jewellery increasingly expensive for middle-class and young buyers. As a result, consumers are now shifting toward alternative jewellery options that are more affordable yet stylish.
Jewellers say customers are increasingly exploring lower-carat jewellery such as 18K, 14K, and 9K designs, along with platinum jewellery that offers a premium and modern look at comparatively lower prices than high-purity gold ornaments.
Younger Buyers Prefer Platinum JewelleryIndustry experts believe platinum has become particularly popular among younger consumers due to its elegant, minimalist, and contemporary appearance.
Unlike heavy traditional jewellery, platinum ornaments are often designed with lightweight and trendy styles that appeal to urban buyers looking for fashionable daily-wear accessories.
Jewellery brands and retailers have also started introducing lighter and budget-friendly collections to attract customers affected by rising gold prices.
Platinum Prices Remain Uniform Across IndiaOne notable aspect of the platinum market is that prices remain almost similar across most Indian cities. Unlike gold and silver, platinum rates generally show very little regional variation.
Cities such as Delhi, Mumbai, Ahmedabad, Chennai, Kolkata, Jaipur, and Bengaluru are all reporting nearly identical platinum prices today.
Platinum Rates on Friday, May 15, 2026| Delhi | ₹6,500 | ₹65,000 |
| Mumbai | ₹6,500 | ₹65,000 |
| Ahmedabad | ₹6,500 | ₹65,000 |
| Chennai | ₹6,500 | ₹65,000 |
| Kolkata | ₹6,500 | ₹65,000 |
| Hyderabad | ₹6,500 | ₹65,000 |
| Jaipur | ₹6,500 | ₹65,000 |
| Kerala | ₹6,500 | ₹65,000 |
| Lucknow | ₹6,500 | ₹65,000 |
| Bengaluru | ₹6,500 | ₹65,000 |
| Indore | ₹6,500 | ₹65,000 |
| Surat | ₹6,500 | ₹65,000 |
| Nagpur | ₹6,500 | ₹65,000 |
| Raipur | ₹6,500 | ₹65,000 |
Analysts believe platinum demand may continue to rise if gold prices remain elevated in the coming months. The growing preference for lightweight, affordable, and stylish jewellery is expected to support platinum sales, especially among younger consumers and urban buyers.
At the same time, global economic trends, industrial demand, currency movements, and precious metal imports will continue to influence platinum prices in India.
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