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Articles from GOLD JEWELLERY (654 Articles), PLATINUM JEWELLERY (49 Articles)

Global gold jewellery demand decreased by 4 per cent in the third quarter of 2014
Global gold jewellery demand decreased by 4 per cent in the third quarter of 2014
 









Gold jewellery demand weakens, platinum council established

Global gold jewellery demand in the third quarter of 2014 was unable to match last year’s “exceptional” corresponding period, according to the World Gold Council’s latest report.

Although the Gold Demand Trends report found that global jewellery demand had decreased by 4 per cent to 534 tonnes, it noted that the third quarter of 2013 had been the “strongest third quarter for jewellery demand since 2008, and by a fair margin”.

When viewed in the longer term, the third quarter was considered to have performed “marginally stronger” than the quarterly average of 528 tonnes, with the volumes said to indicate a continued recovery from the low experienced in 2009.

India’s jewellery demand leapt 60 per cent to 183 tonnes – its second highest third quarter on record. This was attributed to confidence in the new government and improved economic sentiment.

Paul Wilson, WPIC CEO
Paul Wilson, WPIC CEO

Jewellery demand in the US and the UK was also said to have been strong due to ongoing economic recovery. Demand increased by 4 per cent to 34 tonnes in the US, its highest third quarter since 2009, and in the UK, demand was up 18 per cent to 5 tonnes, marking the fifth consecutive year that the country has experienced a year-on-year increase.

Jewellery continued to be the largest component contributing to global gold demand. It represented more than half of the total 929 tonne volume recorded, which was a 2 per cent decrease compared to global gold demand in the third quarter of 2013.

The report also addressed other gold trends, including in the areas of investment, central banks, technology and supply. It did not explicitly mention gold demand or gold jewellery demand in Australia.

New body formed to promote platinum investment
Meanwhile, a number of platinum producers have formed a new global industry organisation with the intention of promoting the metal – which is often used in jewellery – as a valuable investment.

The World Platinum Investment Council (WPIC) – which is comprised of Anglo American Platinum, Aquarius Platinum, Impala Platinum Holdings, Lonmin, Northam Platinum and Royal Bafokeng Platinum – was established in London on Tuesday 18 November.

Chris Griffith, Anglo American Platinum CEO
Chris Griffith, Anglo American Platinum CEO

The aim of the WPIC is to develop an active investment market for platinum by making it more accessible to a wide array of investors around the world.

WPIC CEO Paul Wilson stated, “To date, the investment potential of platinum has been largely overlooked. We believe that presenting the platinum investment proposition to a wider range of investors will result in it rightfully being considered favourably as an investment. Platinum’s performance as an investment asset over the past 20 years supports this thesis.”

Wilson said the WPIC’s initial focus would be on developing data and analysis to provide insight into the key drivers behind the platinum market, which he said was “critical to the full appreciation of the platinum investment opportunity”.

Chris Griffith, CEO of Anglo American Platinum, added, “The WPIC has been formed to help investors make better informed decisions when it comes to physical platinum. We believe greater transparency, objective information and a broader selection of investment products will ultimately lead to a more sustainable platinum investment market.”

The WPIC’s first report, an analysis of global platinum supply and demand fundamentals in the third quarter of 2014, is expected in December.

More reading
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