Jewellers in Britain are looking at some innovative ways to make their platinum supplies go further, as the cost of the precious metal is expected to rise in the months to come.

Johnson Matthey predicts that the price of platinum will increase to an average of $1,750 (£1,113) per ounce during the first half of the year, while demand for platinum jewellery is expected to decrease by 14 per cent globally, Professional Jeweller reports.

Undeterred by this, jewellers are melting and remodelling old designs, as well as mixing platinum with 18 carat white gold. Jewellery brand Nest Creates is doing just this to allow it to keep its rings the same thickness.

Platinum prices have not risen as sharply as gold, however, which may encourage some jewellery shoppers to choose it instead.

"Traditionally some consumers have had the perception that platinum is outside of their budget, so with all the news of gold being at record highs they may now have changed that perception and consider platinum," Neill Swan of Johnson Matthey told the website.

"It is interesting to see that platinum hallmarking figures have held up whilst gold's continue to drop quite considerably."

One side-effect of this is that the colour difference becomes more noticeable over time, but Nest Creates' Kate Thorley has a shrewd answer to this: "The way we sell it to customers is that the ring is growing with your relationship."

Additionally, many producers of bridal jewellery believe platinum prices will not affect demand in the market for pure platinum products, as it is seen as the only choice for wedding-related products.

Global mutual fund Portfolio 21 recently named Johnson Matthey among its top ten green companies for 2011, praising its core skills in catalysis which help chemical reactions to be carried out under more environmentally friendly conditions.


Source:


Keeping platinum affordable (5/01/10)

© Adfero Ltd