One of the rarest precious metals, platinum is also one of the strongest and heaviest, making it a popular choice for setting gemstone jewelry and watches. It has a rich, white luster, and an understated look. Platinum is hypoallergenic and tarnish resistant. Platinum used in jewelry and watches is at least 85 to 95 percent pure. Many platinum watches are produced in limited editions due to the expense and rarity of the metal.