China's penchant for luxury platinum jewelry is fading despite lower global prices, leaving world demand for the metal exposed to sharper decline. China is by far the biggest market for platinum jewelry, making up more than 60 percent of global manufacturing use for the white metal in 2015.
Gold fell more than 1% to a five-year low on Wednesday as a bounce in the dollar fueled downside momentum, with investors continuing to pull away from the metal after its dramatic slide earlier this week.
Gold edged back above $1,200 an ounce on Tuesday as the dollar pared early gains, though prices remained under pressure as a rally in global equities diverted some interest from the metal.
Gold pared gains on Friday, heading for a second weekly drop, after data showing U.S. consumer prices rose in March tempered speculation the Federal Reserve will delay its first interest rate rise in nearly a decade.
