The global platinum jewellery market saw growth across key regions in the second quarter of 2025, according to the latest Platinum Jewellery Business Review. 

Consumers in major markets are finding greater value in platinum as gold prices continue to reach new highs, and retailers are increasingly turning to platinum, according to Platinum Guild International (PGI). PGI CEO Tim Schlick stated, “Despite economic headwinds, platinum jewellery demonstrates enduring value and resilience.”

All key markets reflected strong platinum jewellery sales.

China's platinum jewellery market saw a 151 per cent year-over-year growth in fabrication, led by strong wholesale demand. As such, PGI said it expanded its collaboration with a group of dedicated platinum wholesale showrooms and counters, providing them with point of sale materials and training resources.

Retail sales from PGI partners rose 19 per cent year over year, driven by inventory building, joint promotions with retailers and innovation in new product collections. PGI launched collaborative promotions with a group of retail brands and a leading department store chain in May and June to capitalise on the holiday period.

Surging gold prices, meanwhile, dampened consumer demand in India despite key jewellery-buying occasions. Meanwhile, PGI’s key strategic partners recorded a 15 per cent year-over-year uptick in platinum jewellery retail sales.

This momentum reflects the impact of targeted initiatives and collaborative efforts, including the Season of Love (SOL) promotional programme, which drove platinum jewellery sales by 21 per cent throughout the campaign period over the previous SOL in 2023. PGI hosted the Platinum Buyer-Seller Meet in June, linking 60 retailers with 14 manufacturers and achieving a double-digit increase in ordered volume. Strategic partners also implemented dedicated in-store activation and notably expanded their platinum offering within gold sections.

In the UAE, meanwhile, PGI expanded the network and added three new retailers in Q2, raising the UAE store count to 127.

Japan’s jewellery retail market saw its first year-over-year contraction in Q2 2025 after 16 consecutive quarters of growth, against the high growth in Q2 2024 amid softer consumer sentiment. Platinum jewellery unit sales were down 3.4 per cent from a year ago, driven by a sharp surge in prices, though select retailers offset losses with strategic pricing and product adjustments. The industry’s ongoing shift towards platinum, prompted by persistent gold inflation, underscores the importance of agile merchandising and pricing strategies to navigate market volatility.

The US jewellery market, for its part, continued its move towards higher-value purchases, even as unit sales declined for the fifth year. PGI strategic partners recorded moderate growth, with unit sales increasing by 1.2 per cent from the same period last 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.