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Wednesday, 26th April 2006 (5958 views)

Gold and platinum jewellery prices have hit an all time high in the Chinese market, following an increase in benchmark prices.

Platinum jewellery is set to reach a price of 333 Yuan per gramme, while gold is expected to rise to 193 Yuan per gramme, according to the secretary-general of Shanghai Gold Jewellers Guild.

Since December 13th, gold retail prices in Shanghai have seen an increase of 19.3 per cent, but they are still not amongst the highest in China.

Pan Bin, general manager of Shanghai Laofengxiang International Trade Company, told The Shanghai Daily: "The strict regulation in the Shanghai gold market is probably the reason that retail prices in Shanghai are lower than cities like Hangzhou and Nanjing."

In the global gold market, prices have reached a 25-year-high, with the Shanghai Gold Exchange reaching a record 159 Yuan per gramme last week.

 

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