Despite an anticipated 9% increase in demand for platinum in 2019, demand for the precious metal for jewelry fell 5% in the second quarter of the year.
Demand for platinum for jewelry fell 30 koz year-on-year. The World Platinum Investment Council (WPIC) said this drop was due to a continued decline in Chinese demand.
WPIC said total platinum supply is expected to increase by 4% this year. However, it will not be able to keep pace with demand.
Read more about the platinum jewelry demand falling in the second quarter on the IDEX Online website HERE