{"id":9999,"date":"2012-04-17T16:20:50","date_gmt":"2012-04-17T14:20:50","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-1-indias-2012-platinum-imports-seen-up-47-pct-trade\/"},"modified":"2012-04-17T16:20:50","modified_gmt":"2012-04-17T14:20:50","slug":"update-1-indias-2012-platinum-imports-seen-up-47-pct-trade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-indias-2012-platinum-imports-seen-up-47-pct-trade\/","title":{"rendered":"UPDATE 1-India&#8217;s 2012 platinum imports seen up 47 pct-trade"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds contract launch, quotes)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">MUMBAI, April 17<\/span> (Reuters) &#8211; India&#8217;s platinum imports may<br \/>\nrise 47 percent this year to 20-22 tonnes, Anjani Sinha,<br \/>\ndirector of the Indian Bullion Market Association, said at the<br \/>\nlaunch of a new spot contract on Tuesday, reflecting increased<br \/>\ninvestor confidence in the metal.<\/p>\n<p><span><\/span><\/p>\n<p>India imported 15 tonnes of platinum in 2011 &#8211; just under 8<br \/>\npercent of total global supply &#8211; with about half going into<br \/>\nproducing catalytic converters for cars and the balance into<br \/>\njewellery making, investment and industrial applications.<\/p>\n<p><span><\/span><\/p>\n<p>India&#8217;s appetite for platinum has been steadily increasing<br \/>\nof late partly as an increasingly wealthy middle class emerges<br \/>\nand looks to the white metal for jewellery.<\/p>\n<p><span><\/span><\/p>\n<p>Its attraction as an investment has taken a hit after its<br \/>\nprices fell below that of gold. On Tuesday, spot platinum<br \/>\nwas at over $80 discount to gold at around $1,572 per<br \/>\nounce.<\/p>\n<p><span><\/span><\/p>\n<p>India&#8217;s National Spot Exchange Ltd (NSEL) launched a spot<br \/>\nplatinum contract on Tuesday, which will be available in as low<br \/>\ndenomination as 1 gram.<\/p>\n<p><span><\/span><\/p>\n<p>The NSEL, which also trades gold, silver and other base<br \/>\nmetals, also launched a 100 gram contract aimed at jewellers.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The option of physical delivery in coins or bars form in<br \/>\nmultiple locations makes the product all the more attractive<br \/>\napart from benefits like no storage issues,&#8221; said Sinha, who<br \/>\nalso heads the NSEL.\t<\/p>\n<p> (Reporting by Siddesh Mayenkar; Editing by Rajesh Pandathil)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds contract launch, quotes) MUMBAI, April 17 (Reuters) &#8211; India&#8217;s platinum imports may rise 47 percent this year to 20-22 tonnes, Anjani Sinha, director of the Indian Bullion Market Association, said at the launch of a new spot contract on Tuesday, reflecting increased investor confidence in the metal. India imported 15 tonnes of platinum in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9999","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9999"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9999\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}