Palladium (a sister metal to platinum) jewellery may benefit from a boost in demand when the metal receives a UK hallmark, claims Phillip McBride, a buyer for British jeweller Beaverbrooks .
In a recent interview with Reuters, Mr McBride said that a legal hallmark for palladium could see the metal touted as an alternative to nine carat gold and will significantly raise awareness of the white metal.
A hallmark is used by buyers as a guarantee of purity standards and as a result, increases the metal's appeal as an investment . The Sheffield Assay Office has reported that while voluntary hallmarking of palladium jewellery is already underway, it is not expected to be a legal requirement until January 1st 2010.
Mr McBride told Reuters: "If it is hallmarked, it has more credibility. The metal itself is more well known now, and it is happening in the gentlemen's wedding ring market. But there are no palladium engagement rings, no palladium necklaces and pendants in the mass market."
Palladium jewellery to receive a UK hallmark
Fri, 22 May 2009
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