Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Demand for platinum is on the rise in China

27 october 2009

In China platinum is taking big strides with the demand for the metal rising even in remote areas, Commodity Online reported.
Higher sales are being fueled by holiday-related jewellery sales and for bridal rings, which were helped by 2009 being considered an auspicious year for getting married and an increasing desire for platinum.
Platinum jewellery sales in China increased by more than 400,000 ounces, compared to the same period in 2008, largely in response to lower platinum prices, but also given the reduced premium over gold.
This market response highlights the strength of platinum jewellery branding and the different nature of Chinese platinum jewellery demands, as economic conditions continue to depress jewellery sales in most Western markets. The Chinese market is unsaturated, and the number of retail outlets continues to grow.
The strong growth in platinum jewellery demand is supported by statistics published by the Shanghai Gold Exchange, which show that the total volume of platinum sold in the first half of the year was up 81 percent over the same period last year. The majority of the sales were in the jewelry category.
Platinum prices have held steady to date, providing an opportunity for further growth in platinum jewellery demand.
Increased sales have been helped additionally by new store openings and manufacturers holding larger working stocks to meet increased demand.
The second half of 2009 is expected to deliver higher levels of spending, including increases in gift jewelry and bridal jewelry purchases.
Chinese people see 2009 as an auspicious year for marriage, since the number nine implies forever love.
It is estimated that more than 10 million couples tie the knot each year in China. According to China Wedding Registry, 10.5 million couples registered their marriage in 2008, a 10.6 per cent increase in year-on-year growth.
It is estimated that marriages will see 6 per cent growth to 11.5 million marriages in 2009, and that marriages will number 11.82 million in 2010.
Since 2000, China has been the world’s largest consumer market for platinum jewellery. Sales increases were reported to be strong in both first- and second-tier cities.
Festive occasions have become major drivers of sales for consumer products, and jewellery is no exception.

Yekaterina Davydova, Rough&Polished Asian Bureau Editor in Beijing