Tuesday, 18th May 2004 (4094 views)

High prices in the platinum market have caused white gold sales in China to boom according to a precious metals and chemicals group.

According to Johnson Matthey when the price of platinum reaches more than $800 then purchases of new jewellery slows down.

However this has meant people are instead turning to white gold and Chinese jewellery fabricators are using the precious metal made from gold and nickel or palladium instead, according to the Financial Times.

In addition jewellers are not buying new supplies of platinum because prices are too high and the metal is too difficult to pass on to retailers.

The same trend could occur in Japan, since platinum jewellery sales have also dropped there.

 

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