It is worth noting that Platinum imports have almost doubled. Platinum imports have touched 40 tonnes in 2013 from 18 tonne in 2012. The demand has been driven by retail jewellery sales though platinum as an investment product has not gathered much momentum in India where gold is still regarded as the best investment option.
Platinum prices went down by $200 per troy ounce in 2013 compared to gold which made this precious metal popular among aspiring young Indians. There are no restrictions on platinum imports unlike gold. The reason for the surge in import can be also referred to this fact that unlike gold; presently it can be imported without any restrictions. Check the Top Platinum Supplier Regions in World Here.
A supply crunch in gold has pushed up the premium on gold, making the yellow metal costlier which has not happened in the case of platinum. At the retail end, platinum jewellery demand has grown by 30-35% in 2013 and jewellers are expecting that platinum will maintain this rally in the current year as well. Platinum demand is more of an urban phenomenon.
However,platinum is gradually crossing the boundaries of metro cities and making way into tier-1 and tier-2 cities. It is the only metal that showed a spectacular growth last year. The price of platinum currently hovers around 3,790 per gm which has moderated since January.
Now the crucial question arises that how one should invest in Platinum in India and we will suggest that buy only jewellery and that too the branded jewellery with quality diamonds. Do remember to check for the decent buyback option as its still almost impossible to sell used platinum jewellery to the street corner jeweller. Why we are asking you to buy from branded jewellery stores like Tanishq or Reliance Jewels can be taken after you have read our personal experience with local jeweller here.
Happy investing in Platinum as Platinum Guild in India is also awakening to the requirement to spread the message to the audience for going in for Platinum and off an we see a lot of advertisement in newspaper related to Platinum. Do remember to check the gold tip here to make money in commodity market.