China's Shanghai Gold & Jewelry Trade Association has announced that the price of platinum jewellery has been increased by three per cent.

The move represents the fourth price rise this year, as popularity for platinum jewellery remains high in China.

Shanghai will now see the base retail price for platinum jewellery set at 375 yuan (US$50) per gram, up from 343 yuan before January 23rd, prior to the latest string of rises were introduced.

Chen Jiu, the head of jewellery retailer Shanghai Lao Miao, told the Shanghai Daily that the escalating price will not have a negative impact sales in terms of value, but could result in a reduction in sales volumes.

Platinum engagement rings are now considered the hottest property on the bridal market, the Shanghai Daily reports, while platinum wedding bands are also seeing huge demand in China.

Ÿ Adfero Ltd