Diamonds are back, thanks to the Trump administration.
The US government is cracking down on the supply of cheap gold, and now we’re seeing a huge surge in the demand for platinum, which is also on the upswing.
That’s according to the latest figures from the United States Mint.
In April 2018, the government minted just shy of 3.5 billion ounces of platinum, a 5 percent increase from the previous month, according to Mint officials.
The Mint’s data showed that the supply for platinum jumped by nearly 12 percent in April from a year earlier, from 1.2 billion ounces to 1.8 billion ounces.
Meanwhile, the demand from investors rose by almost 17 percent from a month earlier.
The platinum market is still largely controlled by China, but that could change.
China is the world’s largest platinum producer, and it’s increasingly looking for cheaper gold.
Gold miners in the United Kingdom have begun exporting their platinum to China to get a cut of the proceeds from selling it.
The United States is also looking to boost its platinum demand, especially with the gold prices going up.
And that’s all because of President Donald Trump’s policies, according the Mint.