Platinum designs proved particularly popular at a jewellery show in southern India last week, cctv.com reports.

Models descended on Chennai in order to showcase the latest trends in jewellery crafted from the precious metal, plus its diamond, ruby and emerald counterparts.

Indian consumers have traditionally favoured gold, but prices recently reached an all-time high of $1,227 per ounce, leading some to look elsewhere for more affordable options.

N Anantapadmanabhan, proprietor of NAC Jewelers, explained that platinum and diamonds are increasingly picking up the slack.

"Today for the middle class, gold has gone beyond their reach. So what has happened is that diamond is affordable and platinum is also affordable," he told the news provider.

"A one, two or three-gram platinum ring with a single diamond is great. And they also feel very proud when they possess platinum or a diamond ring."

Earlier this week, a new report by Commodity Online indicated that platinum jewellery is making "big waves" in China.

This view backs up the findings of a recent report by leading precious metals refiner Johnson Matthey, which claimed that Chinese platinum demand would rise by 66 per cent in 2009.

Source:

Diamonds sparkle at Jewelry Show in India (30/12/09)

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