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Wal-Mart Stores, Inc. has launched Love, Earth(R) jewelry, which is its first line of completely traceable fine jewelry, only available in Wal-Mart stores, Sam’s Club locations and on Walmart.com and Samsclub.com. The new line, that changes the way how the affordably-priced fine jewelry is made and sold, is the result of the collaboration between Wal-Mart, Conservation International (CI) and Walmart’s supply chain partners. It will give customers the ability to trace the path of their Love, Earth jewelry from mine to store by using Internet.

Love, Earth is the Wal-Mart’s first step in order to achieve that all the gold, silver and diamonds  used in jewelry that is sold in Wal-Mart stores and Sam’s Club locations come from mines and makers that meet Wal-Mart’s sustainability standards and criteria. The standards and criteria include environmental rights, human rights and community issues. By 2010, Walmart hopes that at least 10 percent of its jewelry offerings can achieve these standards.

“Wal-Mart recognizes that our customers care about the quality of their jewelry and its potential impact on the world,” Pam Mortensen, vice-president and divisional merchandise manager of Wal-Mart. “With Love, Earth, customers are getting an affordable and beautiful piece of jewelry that also helps sustain resources and strengthen communities.”

Customers can visit http://www.loveearthinfo.com to see where their jewelry was mined and made, and to know the social and environmental programs of the suppliers. The website also offers information on the standards used to select to the suppliers and ensure the entire process is more sustainable.

Shopping directory: Jewelry

The rising platinum price has driven away the jewelry buyers around the world, but the Chinese demand is still important, due to the strong economic growth, Johnson Matthey Plc reported . (Johnson Matthey is a specialty chemicals company focused on catalysts, precious metals, fine chemicals and process technology).

In 2007, the worldwide demand for platinum jewelry fell by more than 3 percent to a total of 1.59 million ounces. Other recycled jewelry could enter to the market during this year, what would affect the market even more.

“We are quite bullish on the upside… the biggest issue that would make the price move to the upper end of our range would be further disruptions in South Africa, where the system is under strain. We see a relatively tight platinum market”, said Mark Bedford, director of precious metals marketing at Johnson Matthey.

On March 4, platinum went up to a record of $2,290 an ounce as a result of electrical issues in South Africa, which produces 80 percent of global platinum output. The Platinum price went up by more than 30 percent in 2007.

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Shopping Directory: Jewelry