Global demand for platinum jewellery rose by almost 80% in 2009, reaching 76.2 tonnes, according to the Johnson Matthey’s “Platinum 2009 Interim Review”. The review stated that China’s net demand for platinum reached a record high of 54.5 tonnes in 2009. Beijing currently accounts for a staggering 75% of global platinum jewellery demand, and is the biggest platinum jewellery market in the world due to the recent Chinese consensus that gold is out of date and fashion.
According to the Platinum Guild International (PGI), platinum prices are expected to remain stable in 2010, making market growth a likely possibility, thanks to both the bridal market – where people are increasingly choosing the clean modern look of platinum over more traditional precious metals; and the increasing numbers of younger platinum jewellery consumers.
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