Home Alternative Investments Low platinum cost pushes jewellery demand

Low platinum cost pushes jewellery demand

by Jonathan Adams

For budget-conscious ring-bearers, the preferred material might be platinum.

According to Platinum Guild International, the low platinum price in 2016 had retailers stocking up on the precious metal, with Indians and Americans the most likely to put a platinum ring on it. In India platinum demand soared 11.4%, while in the U.S., demand grew 5.4%.

Jewellery is the second-largest market for platinum behind autocatalysts.

“Platinum’s relative strength in challenging market conditions is rooted in the unique space that platinum occupies in the jewellery category, bought more for its emotional meaning, and less for wealth preservation and transference,” said Huw Daniel, CEO of Platinum Guild International, which is funded by South Africa’s platinum mining industry.



Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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