Here is the whole article .Chinese marriages 'fuelling platinum...

Here is the whole article .


Chinese marriages 'fuelling platinum jewellery demand' 27th November 2009


Platinum is replacing gold as the number one choice for wedding-related jewellery in China, the Global Times reported yesterday (26th November).

According to estimates, roughly 143 million babies born in the country during its third 'baby boom' in the 1980s are now at the age considered most appropriate for marriage.

Indeed, the Ministry of Civil Affairs confirmed that the amount of couples tying the knot in China last year hit 11 million, representing a 10.8 per cent rise from the 2007 figure.

Several circumstantial factors are thought to be behind this trend, such as eight being regarded as a lucky number and Beijing hosting the 2008 Olympic Games.

However, a more significant cultural shift is also occurring, with domestic sales of platinum reaching a record 54.4 tonnes this year, according to Johnson Matthey.

Zhang Jing, a consultant with a Beijing-based international education service, is among those who intend to mark their weddings by buying bride and groom platinum rings.

"Gold has gone out of fashion. Only old people and the nouveau riche still buy it," he told the news provider.

Those sentiments were echoed by Chen Wei, a self-employed photographer, who noted that gold is "out of date" and that platinum "goes well with the white wedding gown".

Meanwhile, Caishikou, one of the largest jewellery stores in the Chinese capital, has also confirmed that it is benefitting from the ever-increasing demand for the precious metal.

The outlet recorded platinum jewellery sales of 400 million yuan in the first three quarters of 2009, which was equivalent to the figure for the whole of last year.