Latest UK platinum hallmarking figures 25th July 2003
German platinum jewellery has become increasingly popular in the UK. The photo shows pieces by Bunz.
UK platinum jewellery market remains buoyant
Demand for platinum jewellery is continuing to grow in the UK according to the latest hallmarking data.
The total weight of platinum pieces that received the fineness control stamp in the first half of this year jumped 17 percent compared to the same period last year, according to the latest UK Assay Offices report.
Johnson Matthey estimates demand will be over 20 percent higher in 2003 than the previous year, basing its forecast on past quarterly trends.
Out of the 37,376 oz of platinum jewellery that passed through the four UK Assay Offices in the first half of the year, over 16 percent was manufactured abroad, the report said. This proportion has risen over recent years highlighting that the UK market is becoming increasingly attractive to fabricators from other countries such as Germany, Italy, India and China.
The UK platinum jewellery market appears to be weathering the harsh economic climate well in comparison to gold, which has seen a year-on-year drop in the total weight of pieces hallmarked during the first half of this year. Demand for silver has increased however, indicating that white coloured jewellery continues to attract consumers in the UK.
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