Sales of Italian and French platinum jewellery missed growth targets in 2007 and soaring metal prices are likely to hinder growth again this year. Francoise Izaute, head of the Platinum Guild International (PGI) Italy, said that volume in the bridal sector was flat but value had increased from last year. Speaking to Reuters she said that high metal prices were to blame. "A lot of people thought they should wait for prices to go down, but that never happened," she said. Ms Izaute said she would be happy to see steady sales in the remaining months of 2008.

The latest James Bond could have proposed to his long-term girl friend with a platinum ring. Daniel Craig, who is the latest Hollywood star to take up the role of the suave spy, reportedly presented Satsuki Mitchell with a diamond ring in a platinum setting, according to The Sun.

Increasing metal prices, changes in customer attitudes and altering economic situations across the world will increase the size of the global jewellery industry - a March report has said. Global Industry Analysts expect the market to reach $213 billion by 2010. The report also stated that rising platinum prices had displayed a negative impact upon the platinum jewellery market which also faces strong competition from palladium.

Meanwhile, jewellery purchases are largely affected by changes in consumer taste. While quality and design remain an important issue, differing consumer opinions are starting to have an effect on the industry, according to the report from Global Industry Analysts.

Mulloy's Fine Jewelry announced that it has been awarded the Preferred Platinum Partnership by Southern California's Platinum Guild international. The firm was voted for by top jewellers all around the globe who recognised it as one of America premiere destinations for precious platinum jewellery designs. "Mulloy's is proud to receive this partnership for featuring the top leading fine jewelry designers," said Phil Mulloy of the firm.

Tiffany announced its sales by channel of distribution this month, revealing that retail sales in the US increased four per cent in the fourth quarter to $527,945,000 and 11 per cent to $1,272,637,000 in the year. Meanwhile, international retail sales rose 21 per cent to $422,567,000 in the fourth quarter and 19 per cent to $1,200,442,000 in the year. But the jeweller did not comment on the price of precious metals. Although it did say it was "modestly benefiting" from a hedging program that takes care of a part of its platinum requirements.

Ÿ Adfero Ltd