A platinum-based CD produced by Japanese jeweller Nagahori during March has been labelled as the most expensive in the world, the Xinhua news agency reports.

The CD, which contains 18 songs from female vocalists, was made with a platinum case and studded with ten two-carat diamonds, giving it a retail value of $100,000 (£67,361).

http://english.cri.cn/6966/2009/03/05/2021s460598_1.htm

Consumers who have purchased precious metals as a store of wealth - particularly gold - are now selling them due to high prices and the effects of the credit crunch, Interactive Investor reports.

However, the article claims that platinum is benefitting most from the situation, as "there are also the beginnings of a trend for Asian upper classes and younger people to switch to diamonds and platinum".

http://www.iii.co.uk/articles/articledisplay.jsp?article_id=9993356&section=Markets

Leading retailer Signet has confirmed that it intends to close stores and slash inventory after posting a 3.3 per cent UK sales decline for the year to 31st January.

The company experienced a particularly tough fourth quarter, with sales dropping by 9.2 per cent, while annual total group like-for-like sales - including its US arm - fell by 8.2 per cent.

As a result, Signet will close outlets, cut its UK inventory by £10.3 million and launch a £138.4 million debt reduction plan, Retail Jeweller reports.

Group chief executive Terry Burman told the news provider: "As we enter fiscal 2010, our prime objective is to strengthen further the group's industry-leading position so as to be able to benefit from the reduced capacity within the specialty jewellery sector and to be well-positioned for the eventual consumer recovery."

http://www.retail-jeweller.com/page.cfm/action=Archive/ArchiveID=2/EntryID=218

Meanwhile, a host of celebrities have been pictured showing off their platinum jewellery at red-carpet events in recent weeks.

According to a report by prlabonline.com, there is a growing trend among Hollywood A-listers for layering platinum cuff bracelets to draw attention to their arms and add to their glamour.

Jewellery and style expert Michael O'Connor told the news provider: "Instead of wearing matching cuffs, we're noticing that celebrities are mixing various styles, ranging from vintage with embellishments to modern architectural designs."

http://www.prlabonline.com

Charlize Theron sported a pair of platinum and diamond stud earrings and a pendant at the photocall for her latest film, The Burning Plain, in Madrid on 5th March.

Her choice mirrors those of Angelina Jolie, Gwen Stefani, Katie Holmes and Eva Longoria-Parker, who have all been spotted wearing platinum stud earrings in recent weeks.

http://www.prlabonline.com

Dancing with the Stars presenter Samantha Harris wore platinum drop earrings, a bracelet and a cocktail ring by Beaudry at the premiere of the hit show in Los Angeles.

She has since appeared on screen with a pair of ultra-long platinum drop earrings, a cuff bracelet and a cocktail ring, with a combined value of over $150,000.

http://www.prlabonline.com

English actress Emily Blunt also picked platinum earrings and a cocktail ring by Neil Lane as she attended the premiere of The Sunshine Cleaning.

http://www.prlabonline.com

Jaime Pressly picked various Beaudry pieces - platinum teardrop earrings with white and black diamonds, two bracelets and a cocktail ring - for her recent appearance on the Jimmy Kimmel Live television show.

http://www.prlabonline.com

Back in Los Angeles, Jordana Brewster attended the premiere of new movie Fast & Furious on 12th March wearing platinum drop earrings, two bracelets and a cocktail ring by Neil Lane.

http://www.prlabonline.com

Carrie Preston turned out for the New York premiere of Duplicity on 16th March sporting a pair of platinum hoop earrings and a necklace with a diamond pendant.

http://www.prlabonline.com

Finally, Gwyneth Paltrow selected a platinum bracelet with 43 carats of white diamonds by Chopard for her appearance at the premiere of Valentino: The Last Emperor, which took place the following day in the Big Apple.

http://www.prlabonline.com