Arab Today, arab today asians popularise platinum jewellery
Last Updated : GMT 17:51:31
Arab Today, arab today
Arab Today, arab today

Asians popularise platinum jewellery

Arab Today, arab today

Arab Today, arab today Asians popularise platinum jewellery

London Platinum is luring jewellers away from gold after investors pushed up bullion prices to records escaping market turmoil. Gold surpassed platinum as the most expensive metal used in jewellery in Aug-ust for the first time since December 2008. Gold demand from jewellery makers dropped 3 per cent last year, according to the World Gold Council. Platinum use climbed 1.8 per cent, according to an estimate by Johnson Matthey Plc, a global marketer and distributor of the precious metal. \"Each time gold rallies and hits new key psychological levels, jewellery demand is impacted,\" David Wilson, an analyst at Citigroup Inc. in London, said. \"The switch last year, with gold overtaking, should be supportive for platinum jewellery demand.\" Platinum jewellery\'s appeal is spreading, driven by China, which accounts for about 68 per cent of consumption. Article continues below n India, the world\'s biggest market for gold ornaments, the grayish-white metal\'s popularity is gaining among young women, with the switch partly explained by the surge in gold prices, Platinum Guild International country manager Vaishali Banerjee said in Mumbai. \"All retailers are reporting a strong uptake\" in India, Banerjee said. \"2012 will be a stronger year for platinum.\" The yellow metal has climbed for 11 successive years and peaked at $1,921.15 (Dh7,056.58) an ounce on September 6 before retreating to close at $1,784.23 an ounce in London yesterday, data on Bloomberg show. Platinum closed at $1,718.50 an ounce the same day, up from a three-year average of almost $1,546 an ounce. \"Consumers have begun to see platinum as a bargain since gold reached parity with platinum,\" Johnson Matthey said in its preliminary report for 2011. Even so, gold\'s use in jewellery still dwarfs that of platinum by a multiple of about 25. The gulf between consumption levels in rings, necklaces and bracelets signals the potential for platinum\'s growth. Demand for gold from jewellers fell to 1,962.9 tons, dragged lower by a 13 per cent slump in the second half, the Council said. Jewellery accounted for 47 per cent of gold purchases last year. Platinum\'s use in jewellery rose to 76.7 tons, according to Johnson Matthey. Gold\'s bull run may last for eight years Gold\'s bull run may last for a further five to eight years, with the price of the precious metal more than doubling to as high as $5,000 an ounce, Christopher Wyke, Schroders Investment Management product manager for emerging market debt, commodity and currency funds, said on February 24. In the near term, gold probably will remain more expensive than platinum through next year, according to the median estimate of analysts surveyed by Bloomberg. Investment demand for gold in 2011 climbed 7 per cent to a record 52.7 million ounces, or about $79.2 billion, the Council said on February 16.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asians popularise platinum jewellery Arab Today, arab today asians popularise platinum jewellery

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asians popularise platinum jewellery Arab Today, arab today asians popularise platinum jewellery

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday