London — Gold jewellery sales in number one market China are finally picking up after years of decline, but consumers are still shying away from platinum. Chinese jewellery sales are a main component of global demand for both physical gold and platinum, accounting for 14% and 16% of consumption respectively. Since peaking in 2013, both have fallen by about a third. Analysts and jewellers report that a lack of trust in platinum, as well as the higher cost of exchanging platinum pieces for cash, make it a less appealing store of value for older buyers. Fashion conscious young consumers are favouring lower purity gold for day-to-day wear. "Chinese people traditionally prefer gold," said Wang, a sales associate in central Beijing at Caibai Jewelry, which has stores across China’s northern regions, and who declined to give her first name. "Gold sales are much better than platinum because it is a hard currency that can be changed into cash at any time, if there is an emergency." According...

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