07 Dec 2022
DiamondWorld Directory
-
Home |
News
Home
Platinum Jewellery Demand Improves 5% in Q2 ’22: WIPC
This was bolstered, in part, by considerable demand in North America and Europe
By: Diamond World News Service
|
Sep 6 2022 4:25PM
|
Reference: 26509  

DecreaseIncrease
Courtesy: Platinum Evara
Courtesy: Platinum Evara

Despite resilience in the automotive, jewellery and industrial sectors, combined with reduced mining and recycling supply, a reduction in ETF holdings and exchange stocks saw a platinum surplus in Q2 2022 of 349 koz, and the forecast 2022 surplus increase to 974 koz, according to the World Platinum Investment Council’s (WPIC’s) latest Platinum Quarterly report.

Jewellery demand improved by 5% (+26 koz) in Q2 ’22, with most markets aside from a Covid-impaired China, continuing to grow. This was bolstered, in part, by considerable demand in North America and Europe due to more weddings and platinum’s price remaining well below the price of gold. Platinum jewellery demand for 2022 is forecast to be 1,959 koz – a slight increase on 2021.

Paul Wilson, CEO, WIPC, commented: “Despite considerable headwinds in 2022, pockets of platinum demand strength, particularly in the automotive, jewellery and industrial sectors are promising in both the near- and long-term.”

Global bar and coin demand strengthened quarter-on-quarter to 70 koz in Q2'22, driven by North American demand which is set to post a new post-COVID high in 2022 of 292 koz. However, in Japan, high yen-denominated platinum prices continued to encourage profit-taking among investors for the second consecutive quarter – albeit at a lower level to the previous quarter. Full-year total bar and coin investment is forecast to reduce by 14% (-47 koz).

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Advertisement
DWWeeklypost
Search News by City
Advertisement
DWsubscription
Recent Issue
2022
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32040
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 9544
GJEPC Chairman Interview
Views: 28141
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39385
Promo for IJ Awards 2012 at NDTV Profit
Views: 57077
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 68570
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21891
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 50941
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53136
Advertisement
DWsubscription
Member of:
Supporter of: