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Platinum Sales Rise in US, India
Jun 19, 2018 7:20 AM
By Rapaport News
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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
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Tags:
Huw Daniel, platinum, Platinum Guild International, Rapaport News
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