Yesterday, platinum prices saw a serious drop, hitting a five-year low on concerns that a global recession will reduce auto sales. (Platinum is often used in car manufacturing to reduce tailpipe emissions.)
However, what’s bad news for the auto industry is excellent news for jewelry buyers. The John Christian Company–makers of fine personalized rings, pendants, bracelets and more–are jumping back into the platinum business, so to speak, adjusting prices by as much as 40%.
It’s not that we are discounting,” says New Business Manager, Turner Waugh, “it’s just that we are ready to get back into the platinum business. The price move over the last few years basically forced us out of the platinum business due to the heavy weight of our pieces.”
In other words, this is an excellent time to buy platinum products. Here is a chart going back to October 2003:
So, if you haven’t considered buying platinum products in the last five years, now is a very good time.