The platinum jewellery marketing organisation Platinum Guild International (PGI) has published its trade report for the first quarter of 2025 and noted strong growth across key global markets.
This recovery is being led by China, where consumer preferences are shifting away from gold amid record-high gold prices. China's platinum jewellery sector has demonstrated “exceptional growth” in early 2025, with fabrication surging by 50% year-on-year during the first quarter. This recovery began in late 2024 but gained substantial momentum in March 2025, when monthly platinum jewellery fabrication more than doubled compared to the previous year.
“The strong recovery we’re seeing in China’s platinum jewellery market is setting the pace for a broader global resurgence,” said PGI CEO Tim Schlick. China has historically been the world's largest platinum jewellery market, accounting for approximately 40% of global demand.
Platinum is gaining ground not just in China, but also in key markets such as India, Japan, the US and the United Arab Emirates (UAE) as consumers increasingly seek meaningful, high-quality pieces at accessible price points, PGI noted.
“From double-digit growth in China to steady momentum in India, and resilient growth in the US and Japan, we are witnessing platinum jewellery reassert its relevance and appeal worldwide,” Schlick added.
As for global prospects of platinum, the metal is increasingly viewed as offering better value compared to gold, particularly in markets like China and Japan where the price differential has made platinum more attractive. Gold prices have surged to record highs over the past year on the back of trade wars, as well as economic and geopolitical uncertainty.
Theodor Lisovoy, Managing Editor, Rough&Polished
