Platinum jewellery is emerging as a strong alternative in the global market as soaring gold prices continue to influence consumer buying behaviour. The latest Q4 2025 report by Platinum Guild International (PGI) highlights key regional trends, showcasing how platinum is gaining relevance across major jewellery markets.
Quick Summary
- Platinum jewellery gained market share due to record-high gold prices
- PGI Q4 2025 report highlights strong global momentum
- China saw 56% annual growth despite Q4 slowdown
- India recorded 10% YoY growth in platinum jewellery retail sales
- Japan witnessed recovery in platinum unit sales
- U.S. market showed strong value growth despite lower volumes
- Shift from gold and white gold to platinum accelerated globally
Overview of PGI Q4 2025 Report
The Platinum Guild International (PGI) released its Q4 2025 Platinum Jewellery Business Review (PJBR), highlighting varying regional performance trends, with platinum’s value proposition remaining supportive in key markets against a backdrop of record-high gold prices and evolving trade dynamics.
CEO Commentary on Market Momentum
Tim Schlick, CEO of Platinum Guild International, Commented:
“The momentum we observed across key regions in the fourth quarter validates platinum’s growing relevance in today’s jewellery market.
“With gold prices remaining elevated, platinum continues to offer a premium yet accessible alternative that appeals to value-conscious consumers and luxury buyers alike. Looking ahead, PGI remains committed to partnering with the trade to capitalise on this favourable price dynamic—driving innovation, supporting strategic marketing initiatives, and reinforcing platinum’s enduring value in bridal, fashion, and other key segments.”
Regional Market Highlights
China
China’s platinum fabrication softened further in Q4 after a strong first half, but still recorded a 56% annual increase for 2025. The slowdown was driven by a combination of slower inventory turnover and elevated metal prices, which diverted retailer capital towards gold and dampened restocking sentiment. Wholesalers liquidated generic stock to realise capital gains, while retailers prioritised operational resilience. Despite significant challenges, PGI’s retail partners outperformed the broader market, achieving a 7% year-over-year increase in platinum jewellery sales volume during the last quarter of 2025.
India and the Middle East Performance
In India, platinum jewellery continued to outperform the broader market, with strategic partners’ retail sales growing 10% year-over-year. Overall jewellery demand saw a marginal uptick, supported by the festive season and a shift toward lightweight purchases, though volume growth was constrained by a high comparison base and sharp gold price increases. Promotional efforts for brands such as Men of Platinum reinforced platinum’s value amidst price volatility.
PGI continued expanding its UAE presence by onboarding new retailers, bringing the total to 174 stores at the end of 2025.
Japan Market Trends
Japan’s jewellery market saw value recover in Q4 due to sustained price increases, while platinum jewellery unit sales recorded a notable 1.5% year-on-year recovery. This upturn was partly supported by substitution away from gold amid extreme price volatility. For the full year, platinum’s share of unit sales rose, whilst white gold’s share declined.
United States Market Insights
In the U.S., platinum jewellery sales reflected a clear divergence between declining unit volumes and strong value growth, with dollar sales significantly outpacing volumes. Record-high gold prices cooled volume demand across the broader industry, but platinum’s price—remaining less than half that of gold—bolstered its appeal. Despite tariff-related headwinds, the shift from white gold to platinum accelerated, with strategic partners reporting double-digit revenue growth.
About Platinum Guild International
Platinum Guild International (PGI) is a worldwide marketing organisation dedicated to creating, expanding and strengthening consumer and trade markets for platinum jewellery. PGI has offices in the world’s major jewellery markets. Through various programmes in collaboration with jewellery retailers and manufacturers, PGI creates consumer ounce demand by identifying and fulfilling platinum jewellery opportunities for its partners.
Additional Information
For more information, please visit: www.platinumguild.com
LinkedIn: https://www.linkedin.com/company/platinum-guild-international-2901/
FAQ’s
Why is platinum jewellery gaining popularity?
Platinum is becoming more attractive due to high gold prices, offering a premium yet relatively more affordable alternative.
What does the PGI Q4 2025 report highlight?
It highlights regional market trends, increased platinum demand, and a shift in consumer preferences across key markets.
How did platinum perform in India?
Platinum jewellery retail sales grew 10% year-over-year, outperforming the broader jewellery market.
What is driving platinum demand in the U.S.?
Lower relative pricing compared to gold and a shift from white gold are key factors boosting demand.
Did platinum demand grow in China?
Yes, despite a Q4 slowdown, China recorded a 56% annual increase in platinum fabrication for 2025.
What role does PGI play in the jewellery industry?
PGI promotes platinum jewellery globally by collaborating with retailers and manufacturers to drive demand.
Source: SVAR Media Network
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