RapNet


Rapaport News

 

Retail

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Platinum Sales Rise in US, India

Low unemployment rate, strong consumer confidence, and tax reform are key factors.
Jun 19, 2018 7:20 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Platinum jewelry demand grew in India and the US in the first quarter due to tax reforms and positive economic conditions, Platinum Guild International (PGI) reported.

US purchases at PGI’s retail partners grew 12% for the period amid low unemployment and increased consumer confidence, combined with a drop in platinum prices, the trade organization said..

Sales in India rose 25% year on year at PGI partners, outperforming both gold and diamond jewelry, as the introduction of the goods and services tax has benefited organized traders. Demand in Japan increased slightly, with the PGI predicting moderate growth in 2018 from non-bridal jewelry, while purchases in China continued to decline, dropping 9.2%.

“Around the world we see opportunities for increased platinum-jewelry consumption,” said PGI CEO Huw Daniel.

Image: Platinum Guild International
Tags: Huw Daniel, platinum, Platinum Guild International, Rapaport News
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us