Consumers are increasingly turning to platinum jewellery in preference to gold as a result of the precious metal's recent fall in price, it has been revealed.

In a report which appears on jewelleryoutlook.com, Kiran Dixit, Head of Marketing for TBZ-The Original, Mumbai, has noted an increased demand for platinum jewellery related to the declining price of the precious metal.

"Customers who have always been aspiring to own platinum jewellery but have not been able to do so because of the price, are taking advantage of this opportunity," he told the publication.

Mr Dixit's view is backed up by Ishu Datwani of Anmol Jewellers, Mumbai, who notes that the price change means platinum can now be pushed as a fashion accessory rather than a rare - and therefore desirable - metal.

However, platinum's relative new affordability has not stopped it from being viewed as the "ultimate status symbol", according to Prince Jewellers managing director Princeson Jose.

The price of platinum reached a low of $763 an ounce at the end of October last year, although increased demand has been tempered slightly in the last few months by the effect of the credit crunch.



Sources:

Platinum: Still rare but now so affordable! (03/09)
http://www.jewelleryoutlook.com/jewellery-analysis/in_focus.pdf