US Platinum Jewelry Imports Jump 60%

New York: US platinum jewellery imports surged more than 60% in 2014 from a year ago, while imports of gold jewellery rose 15%, according to Thomson Reuters GFMS calculations released on Tuesday and based on US Census data.

The US imported 1 156 kg of platinum jewellery in 2014, up 61% from 719 kg in 2013 because of steep declines in the euro, Erica Rannestad, senior analyst of precious metals demand for Thomson Reuters GFMS in Chicago, said in an email.

Most of the increase came from France, Rannestad noted. The US Census, which released the data last week, provides the import data in dollar values.

Rannestad’s calculations peg US imports of platinum jewellery at 312 kg in December, up from 277 kg in November and up sharply from 55 kg in December 2013.

Gold imports rose 15% in 2014 to 58 938 kg, with the largest increase from Italy, also due to the benefit of weakness in the euro. December imports reached 5 312 kg, down from 6 667 kg in November, but up from 4 456 kg in December 2013, Rannestad said.

US silver imports reached 1.48-million kg in 2014, up 7.6% from 2013, with imports in December 2014 at 138 240 kg, down slightly from 139 888 kg in December 2013.