Platinum, and gold are precious metals. In the first two years, platinum markets were relatively depressed, while recently platinum prices were rising rapidly, surpassing $300 per g. From the beginning of the year to date, the cumulative increase in platinum gold has exceeded 36 per cent, higher than the annual increase in gold. How's the platinum market going
In shenzhen water market, platinum jewellery stores can meet jewellers from all over the country. These buyers told journalists that since the beginning of the year, the price of gold has been rising, with many consumers turning to platinum, and some platinum ornaments coming in short supply。
Zhang jiebin, chairman of a jewellery business in shenzhen, guangdong: after the market was gaining access to platinum gold, sales rose from 150 to 200 kg a month, and may now be at a peak of 40000 kg, with a somewhat short supply. Some small pieces, like tweaks, ear nails, rings are more tense。
In addition to the fact that buyers are actively taking delivery, journalists at shenzhen waters market have observed that many of the slots have also been reduced to sales of platinum gold, some of which have even been directly removed from their original sale booths, with a special focus on platinum gold。
Senior researcher at the guangdong south gold market institute (song zing: since the beginning of april, many of the water bees have been used for gold jewelry fairs because of high prices and the overall volume is not particularly good. One kilo of gold was more than 800,000 yuan and one kilo of platinum was more than 200,000 yuan, so the pressure to lay the goods was particularly small, the overall risk was felt to be less high and the profitability of platinum in all respects would be better than gold。
Specialist: demand surges, supply contractions, driving up the price of platinum
According to the international futures market, on wednesday, platinum futures prices exceeded $1,300 per ounce, up by almost five years. The price of platinum futures continues to hover. What is the reason for the increase in the price of platinum
According to the world platinum investment association, for the first time in the first quarter of this year, china surpassed north america as the largest retail market for platinum investment worldwide. Journalists interviewed a number of in-service experts who stated that strong demand-side growth was one of the main factors in the rise in the price of platinum in the current round。
On the supply side, the supply of platinum is divided into minerals and recycling, accounting for 80 per cent and 20 per cent, respectively, in 2024, while the global distribution of platinum is concentrated, with more than 70 per cent of platinum production originating in south africa and declining production in the first quarter of this year, creating tensions in the supply of platinum。
Experts indicated that platinum was becoming the new focus of the precious metals market against the backdrop of high gold prices. However, consumers should also be wary of market volatility and rational investment。
