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Last updated on April 18, 2014 at 12:48 EDT

As the Price of Gold Continues to Soar, Platinum’s Value Shines

August 22, 2011

NEW YORK, Aug. 22, 2011 /PRNewswire/ — The price of gold has recently soared to record highs, surpassing $1,700 an ounce in August and topping the price of traditionally more expensive platinum. In light of this price parity, platinum offers a great opportunity for brides and grooms looking to get the very best in engagement and wedding rings. Long esteemed for its durability and everlasting qualities, platinum is now more attainable then ever.

Craig Rottenberg of Long’s Jewelers, Burlington, MA notes: “This is an extraordinary time to be buying an engagement ring because you can get platinum, the best material available to protect your diamond, at such an incredible value relative to gold.”

Platinum sales have been trending upwards since 2010, in response to the closing price gap between gold and platinum. Many analysts predict that this may not be the last time gold tops platinum, and retailers around the country report consumers are aware of these price trends.

Platinum’s unique attributes have always represented true value, but even more so now, according to Curtis Bennett, Vice President of Retail Operations at O.C. Tanner Jewelry stores in Utah: “Our platinum sales have increased 25% over the past three months because of the skyrocketing price of gold. It makes even more sense to buy platinum jewelry now because you are getting more value for your money. A piece of platinum jewelry will last forever.”

For additional information on the value of platinum and its unique attributes, visit preciousplatinum.com.

About Platinum Guild International (PGI):

Platinum Guild International is dedicated to promoting platinum and its pure, rare and eternal qualities to the consumer and the jewelry trade. PGI has offices in each of the world’s major jewelry markets, providing information, assistance and education on all aspects of platinum jewelry. For more information please visit www.preciousplatinum.com

SOURCE Platinum Guild International


Source: PR Newswire