Platinum Sales Rise in US, India

RAPAPORT... Platinum jewelry demand grew in India and the US in thefirst quarter due to tax reforms and positive economic conditions, PlatinumGuild International (PGI) reported. US purchases at PGI's retail partners grew 12% for theperiod amid low unemployment and increased consumer confidence, combinedwith a drop in platinum prices, the trade organization said.. Sales in India rose 25% year on year at PGI partners,outperforming both gold and diamond jewelry, as the introduction of the goodsand services tax has benefited organized traders. Demand in Japan increasedslightly, with the PGI predicting moderate growth in 2018 from non-bridaljewelry, while purchases in China continued to decline, dropping 9.2%. "Around the world wesee opportunities for increased platinum-jewelry consumption," said PGI CEO HuwDaniel.Image: Platinum Guild International