American demand for the white metal is increasing – here’s why.
Despite underwhelming global demand, platinum sales in North America have increased by more than a third over the last six years, Business Insider writes. The article says this can be attributed to a steep drop in prices, which have hit seven-year lows at just above $800 an ounce – down 65 percent from 2008. The result of lower prices? Greater margins.
"When you have better margins, it becomes a virtuous circle,” Metals Focus analyst Philip Newman told the business news outlet. “When margins are better, jewelers are better disposed to take platinum, advertise it, and through advertising, boost sales."
Latest Shine Headlines
- Independent Jewelers Continue to Be Bullish on Outlook for 2017
- GIA Is Rolling Out a Desktop Testing Device for Mounted Gems
- Jewelry Brand Partners With Mercedes-Benz on Special-Edition Car
- Jeweler Finds Something Mysterious — and Cute — Outside His Door
- Atlanta Jewelry Show Names New Executive Director