The global platinum jewellery market experienced growth across key regions in the second quarter of 2025, reports platinum marketing organisation Platinum Guild International’s (PGI’s) October 2025-published Platinum Jewellery Business Review.

Consumers in key markets are finding greater value in platinum as gold prices continue to reach new highs, resulting in retailers increasingly turning to platinum, reports PGI.

“Despite economic headwinds, platinum jewellery demonstrates enduring value and resilience, and we are committed to supporting our partners in major markets through collaborations and focused promotions to reinforce platinum’s unique appeal, with consumers seeking quality and distinction,” says PGI CEO Tim Schlick.

Among other key markets, China’s platinum jewellery market experienced “exceptional growth”, with fabrication increasing by 151% year-on-year for the reporting period, driven by strong wholesale demand.

In response to this growth, PGI has expanded its collaboration with a group of dedicated platinum wholesale showrooms and counters, providing them with point-of-sale materials and training resources.

Further, in terms of retail sales, PGI reports that its partner sales rose 19% year-on-year, driven by inventory building, joint promotions with retailers and innovation in new product collections.

Further, PGI launched collaborative promotions in 2025 with a group of retail brands and a leading department store chain in May and June to capitalise on the holiday period.

However, a surging gold price has dampened gold jewellery consumer demand in India, despite key jewellery-buying occasions.

Nonetheless, PGI’s key strategic partners recorded 15% year-on-year growth for the reporting period in platinum jewellery retail sales.

According to PGI, this reflects the impact of targeted initiatives and collaborative efforts, including the Season of Love (SOL) promotional programme, which increased platinum jewellery sales by 21% during the campaign, compared with the previous SOL in 2023.

Further, PGI hosted the Platinum Buyer-Seller Meet in June 2025, connecting 60 retailers with 14 manufacturers, from which a “double-digit” increase in ordered volumes was achieved.

Strategic partners also implemented dedicated in-store activations and expanded their platinum ranges within existing gold sections, reports PGI.

As for other growth agendas, in the United Arab Emirates (UAE), PGI expanded its network and added three new retailers in the second quarter of 2025, increasing the UAE store count to 127.

In contrast, Japan’s jewellery retail market saw its first year-on-year contraction after 16 consecutive quarters of growth, in the second quarter of 2025. This is against the high growth in the second quarter of 2024 amid softer consumer sentiment.

In Japan, platinum jewellery unit sales declined 3.4% year-on-year, driven by a sharp surge in prices; however, select Japanese retailers offset losses with strategic pricing and product adjustments, states PGI.

“The [jewellery] industry’s ongoing shift towards platinum, prompted by persistent gold inflation, underscores the importance of agile merchandising and pricing strategies to navigate market volatility,” adds PGI.

PGI also reports that the US jewellery market continued its move towards higher-value platinum purchases, despite unit sales declining for the fifth year.

PGI’s US strategic partners recorded moderate growth during the reporting period, with unit sales up 1.2% year-on-year and revenue sales increasing by “double digits”.

“Major brands helped fortify platinum’s market visibility through targeted white gold conversion campaigns, further strengthening platinum’s unique quality and appeal,” concludes PGI.