MENS PLATINUM WEDDING RING, PLATINUM DEMAND ON THE RISE DUE TO JEWELRY USE

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MENS PLATINUM WEDDING RING – Demand for platinum grew in the first quarter of 2018 due to the use of precious metals for jewelery, which grew in Japan, the United States and India.

In India, retail sales even exceeded gold and diamond jewelry sales, Platinum Guild International (BGA) reported on Wednesday (June 6).

MENS PLATINUM WEDDING RING

Platinum consumption in India increased by 25% in the first quarter, followed by the United States and Japan, 12% and 2%. “The Indian economy is returning to strong growth and the implementation of GST will continue to promote organized trade,” the group said.

“The partners grew strongly in the first quarter, mainly due to the heaviest products sold by retailers,” the company added.

Growth in India was mainly driven by the Platinum Evara sales chain and the growth of men’s fashion, which increased the average weight of platinum jewelry sold.

“Continuing efforts to increase sales and co-operate with organized dealers IGP sales should grow from 20% to 25% of platinum business partners in 2018, while the growth potential of IGP merchants increases demand for 30% production. 40%.” IGP.

In the United States, continued growth in GDP, coupled with low unemployment, consumer confidence and tax reform, boosted jewelry sales.

Most of the sales of platinum homonyms in the US are due to bridal jewelery, engagements and wedding rings.

“Platinum Born, a new collection of platinum jewelery from Japan for women who buy for themselves, was launched at Centurion Jewelry Fair and started shopping,” SMM said.

“In the US, platinum occurred mainly in commitment and marriage.” Platinum Born introduces a new category of platinum jewelry that is available to a large number of consumers, he added.

In the future, the ZOI will again predict a positive year for platinum, and net sales are expected to grow from 8% to 11%.

Demand for platinum in Japan was the lowest in the first quarter of 2018, but remained stable. Platinum merchants benefit from higher revenues from gold jewelery sales due to lower platinum prices.

BGA said: “The impact of platinum in the first quarter increased by 0.1% on the previous year.

The company added: “Yellow gold, platinum is the only gemstone in precious metals that has slightly increased sales and the price of gold products is likely to be lower than the price of platinum jewelry.”

BGA is generally positive in 2018, especially for platinum jewelry. In Japan, retail retail trade in retail trade in 2018 will rise by 1–2%, mainly due to non-learning activities.

Despite the growth in India, the United States and Japan, China experienced a decline in platinum demand in the first quarter, which could not stop the demand for jewelery.

In the processing industry, IGP stated that “Latinum jewelery production has fallen by 8% compared to the first quarter, while jewelery production has increased by 7% per year.”

In the retail segment, the report states that “IGP’s business partners had to accept a 9.2 percent drop in the first quarter of 2018 compared to the weak sales of the Chinese New Year.”

However, there is optimism, although less than 30% of business partners showed an increase in platinum activity in the first quarter as the company remained stable at the wedding and remained the most important factor in buying platinum.

SMM stated that “the spread to smaller cities is still an important opportunity for future growth.”

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