The past few years have been tough for Platinum. Not too long ago, Platinum engagement rings were the most requested by future brides, in fact, the 2008 Platinum price rose to over $2,000 and ounce. These days the Platinum price is hovering around $980. To many, it seems to have lost its shine.
On the front page of the Wall Street Journal this morning there is a piece that explains the crisis Platinum is currently facing. If you read through, you will note Platinum producers are investing millions of dollars in promotional ads, hoping a new generation of jewelry buyers across Asia can save the industry from crisis. In places like India, platinum stands out; gold has always been the “go to” but now India is the world’s fastest growing market for platinum jewelry behind only China, Japan and the US in overall sales.
So for us, Platinum is still shining…we are expecting a comeback for the white metal. And we have a feeling we are not the only ones.
Do you buy jewelry from the public? Get your platinum in and ready to sell.