Indian Platinum Demand Down 10 Percent from April to July

The Economic Times reported that from April to July, platinum demand in India fell 10 percent as a result of the “ongoing economic slowdown.” It has seen growth during that period for the past few years.

As quoted in the market news:

Though platinum is not considered to be price sensitive, demand has slowed down as consumers have held back their buying decision following a bearish sentiment in the economy. Colin Shah, managing director at Kama Schachter, said: ‘People are in no mood to invest in platinum jewellery right now.

There is a slowdown not only in platinum demand but also in all precious metals. Companies are in a downsizing mode and there is uncertainty all over. People are in no mood to splurge on jewellery.’ Platinum has a niche market in India.

Click here to read the full report from The Economic Times.