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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July 22nd, 2008 at 9:25 pm
Whats the best gift to give someone for their birthday. Flowers or jewelry? Or both?
July 29th, 2008 at 6:09 am
The price of gold has gone up like a rocket this year. At least you can claim a discount at major retail stores, by printing off discount coupons, or coupon websites.
July 30th, 2008 at 4:00 pm
Why buy from major retail stores when you can find gold jewelry cheaper on most online stores.
August 12th, 2008 at 5:18 pm
some online stores are not real
August 21st, 2008 at 4:42 am
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