Platinum Guild International (PGI) is eyeing a massive opportunity as the price of gold reaches record-breaking highs, according to the group’s new CEO, Tim Schlick. With gold being valued more than double that of platinum currently, PGI remains optimistic about the value consumers place on the precious metal.
Schlick reveals that consumer perception of platinum’s value remains strong, with many willing to pay a premium for what they believe is a superior metal. Despite challenges in the industrial sector affecting platinum’s price, Schlick emphasizes that major platinum miners are committed to investing in the jewelry market, which makes up 30% of platinum demand.
Looking ahead, PGI plans to expand its marketing efforts in the United States as the Chinese platinum jewelry market experiences a decline. With India and Japan showing promising growth, the U.S. may become the largest platinum jewelry market in the future.
Additionally, PGI aims to make its campaigns more global, exploring opportunities in regions like Southeast Asia. Schlick emphasizes the organization’s focus on driving incremental value through marketing, training sales staff, and developing the self-purchase product category for platinum.
Overall, PGI’s strategic approach under Schlick’s leadership aims to create demand for platinum where it may not currently exist, ultimately growing the market for this precious metal. With a strong commitment to the jewelry industry and a global perspective, PGI is poised to leverage the current market dynamics in the platinum sector.
