Platinum jewellery continues to shine in major jewellery markets globally, demonstrating buyers' thriving affinity for the beloved white metal.

According to Platinum Guild International’s (PGI) Platinum Jewellery Business Review Q2 2023, India was the top performer in Q2, with PGI’s jewellery partners reporting an average year-on-year growth of 23 per cent in platinum jewellery sales. 

Marketing campaigns focused on the bridal category and Indian festivities as well as retail activation programmes drove platinum sales, according to PGI. 

Over in Japan, Kihei – a type of chain jewellery – and men’s jewellery pieces fuelled steady growth in platinum sales of 1.2 per cent in Q2 2023 from year-ago figures. 

Meanwhile, the US and China saw lower sales after displaying consistent growth in the past, revealed PGI. Q2 sales in the US dipped 10 per cent while China recorded a 17 per cent year-over-year decline in the second quarter mainly due to a lacklustre local economy.

Amid a challenging environment, PGI said it continued its platinum-focused campaigns in the US and China to help reignite market interest in the platinum. 

“PGI remains committed to its mission of enhancing platinum’s appeal and driving sales growth for our valued partners,” said Huw Daniel, CEO of PGI. “The positive results achieved in multiple markets validate the success of our strategic programmes and have solidified platinum’s position as a key value generator in the evolving landscape of the jewellery market.”