Platinum sales dented
Print Edition
AN economic slowdown and weak demand for luxury products dented sales of platinum jewelry by volume in China by 3 percent last year from a year ago, a report showed yesterday.
China became the only one of four major platinum markets — the others being Japan, the US and India — where annual sales fell, the UK-based Platinum Guild International said in its Retail Barometer Report.
Platinum sales jumped above 28 percent by volume in India last year while they grew 8 percent in the US and 3 percent in Japan. The four key markets accounted for 92 percent of the global demand for platinum jewelry.
But an 11 percent rise in bridal demand helped China remain the biggest consumer of platinum, the report said. Platinum sales by volume this year are seen to be flat in China.
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