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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.
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.