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Posts Tagged ‘Gold Jewelry’

Gold, Nonferrous Metal, Nonferrous Metals Prices

December 20, 2009

Chinese Prefer Platinum Jewellery

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It is reported from UK-refiner Johnson Matthey that Chinese jewellery demand has been tremendously strong in 2009. But how long can it keep on growing?

It’s been clear that China’s demand for platinum has been exceptional in the last 12 months. There are two key and relatively timely sources of data about the Chinese market – the country’s imports of platinum, both direct and via Hong Kong, and turnover on the Shanghai Gold Exchange (SGE). Both have been very strong since Q4 2008, and that has continued through most of 2009. The chart below shows net imports of unwrought platinum into China & Hong Kong since the start of 2008.

After a rather subdued first nine months of 2008, on the back of the extremely high platinum price and restricted supply (due to the power crisis in South Africa), China’s demand really took off in September 2009 as the price crashed, and has remained strong ever since. It dipped in June this year but has slowly recovered. October data is only available for direct China imports, and this shows these falling back to 79,048 oz, the lowest since December 2008.

In total, these add up to 1.7 Moz in 2008 (of which nearly 900,000 oz came in the last three months) and 2.3 Moz in 2009, up to the end of September. Even if imports were to slow to a rate of 150,000 oz a month for the last three months of 2009, that would still imply 2.75 Moz for the full year. It’s possible that some of this data is less than totally reliable – Swiss exports to China do not always tally with recorded Chinese imports from Switzerland, for example – but the trends are clear.

A similar tale is shown by the cumulative turnover on the Shanghai Gold Exchange’s platinum contract. By end-November this year the cumulative total traded in ounces (having halved the total to remove double-counting) was 838,299 oz, far in advance of the previous highest level at this stage of 2008, when it was 632, 952 oz.

These volumes are lower than those recorded by imports, as not all platinum that enters China, and even more so Hong Kong, goes through the Shanghai Gold Exchange. Nevertheless, as the following charts show, the trends have been similar.

Both measures suggest that, even allowing for some slowdown in December as higher prices have begun to bite, China’s platinum usage will be much higher in 2009 than in 2008. The data however cannot tell us how much goes into jewellery as opposed to autocatalysts, glass, electronics and chemicals. In November the UK-based refiner Johnson Matthey (JM) suggested that total demand (from all sources) of platinum in China in 2009 would be 2 Moz, 66% higher than 2008. Of this they estimate 1.75 Moz1 will be jewellery, up from 850,000 in 2008. It is interesting to note that JM’s jewellery figures match Hong Kong imports quite closely.

Clearly it is not an exact science as to how much platinum goes to one use or another. However, jewellery manufacturing is going to be the major platinum user in China. Primarily this is because the Chinese automotive industry tends to make gasoline-powered cars, and so the split between platinum (normally found in diesel-engine autocatalysts) and palladium is heavily in favour of the cheaper metal. The next largest use typically is glass manufacturing, followed by the chemical and electronics industries.

These contribute a fair chunk to China’s consumption, but even if they have been underestimated it is still the case that jewellery demand must have increased substantially over 2008. It is possible that the high levels of jewellery demand might to some extent be masking investment in platinum, but it is impossible to know in what quantities this might be happening.

Gold, Nonferrous Metal, Nonferrous Metals Prices

September 23, 2009

Make Gold Jewelry Work for You

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Today’s tight economy is resulting in seeking alternate means of increasing income. A recent job loss brought our home to a one income position. So I decided to take a look in my jewelry drawer and open some long forgotten boxes. Throughout my life, relatives have given me jewelry that carried sentimental value but were not my style. Have you been looking for a great way to make money? In today’s economy many consumers are struggling to pay their monthly bill payments. One great way to earn some extra money is to sell gold jewelry.

Did you know that the price of gold continues to increase all the time? Gold is a precious metal and the price per ounce has never been broken. Many people buy gold coins instead of investing in stocks and bonds because the price of gold is always high. These consumers want to make sure that they get a great return for their investments.

Throughout history many men and women have worn gold jewelry. This means that consumers constantly want to update their jewelry collection. In order to do this, there needs to be a steady flow of gold so that these items can be made.

Why should you sell gold jewelry? Everyone has gold jewelry hanging around their homes that they never wear any more. If you decide to sell gold jewelry then that jewelry that is not ever being worn can help your wallet or pocket book.

People can sell gold jewelry that they have to companies that purchase gold items. When you want to sell gold jewelry, you mail your items to the company and they will weigh it. After this, they will send you a check for the value of the gold.

Where can I sell my gold jewelry? You can sell gold jewelry at Dollars 4 Gold. This company is the best in the industry and is better than going to a pawn shop to sell your jewelry. At a pawn shop you will not receive the compensation for your gold jewelry that you deserve.

Dollars 4 Gold prides itself on being a firm that allows people to sell gold jewelry and get a good value for the items that they are selling. This is because the company is not reselling the product they need it only for its gold value.

If you want to sell gold jewelry then you should visit Dollars 4 Gold, they are a great company and will give you a fair value for your gold jewelry. If you need some extra cash then sell gold jewelry it will help you clean out your jewelry box and fill up your wallet or purse.