The global platinum jewellery market is witnessing a strong resurgence, driven by a remarkable recovery in China and resilient performances in India, Japan, the United States, and the United Arab Emirates, according to Platinum Guild International’s (PGI) Platinum Jewellery Business Review for Q1 2025.
PGI, the global authority dedicated to nurturing platinum jewellery demand, reported that platinum is reclaiming its position as a sought-after metal of choice, as consumers increasingly value authenticity, durability, and emotional connection over ostentation.
“The strong recovery we’re seeing in China’s platinum jewellery market is setting the pace for a broader global resurgence,” said Tim Schlick, CEO of Platinum Guild International. “As consumers seek meaningful, high-quality pieces at accessible price points, platinum is gaining traction not just in China, but also in India, Japan, the US, and the UAE. From double-digit growth in China to steady gains in other markets, platinum jewellery is reasserting its relevance and universal appeal.”
China remains the powerhouse of platinum’s revival. In Q1 2025, platinum jewellery fabrication surged 50% year-on-year, with monthly output in March more than doubling compared to the previous year. The surge comes as manufacturers and retailers increasingly shift focus from gold and diamond categories amid high gold prices and soft diamond demand.
Over 40 platinum-dedicated wholesale showrooms have opened since early 2025, while several gold production lines have transitioned to platinum. PGI’s expanded partnerships and industry training have further strengthened the supply chain, alongside the launch of a new China-specific marketing platform, offering advertising and social media assets to partners.
Retail sales rose 16% year-on-year, underscoring consumer confidence and market momentum. PGI noted that sustained growth will rely on coordinated marketing and new product activations to convert upstream demand into long-term retail traction.
Despite a sluggish quarter impacted by record-high gold prices and fiscal year-end slowdowns, India’s platinum jewellery segment continued to expand. PGI’s top 15 strategic partners recorded an average 7% year-on-year growth, supported by digital initiatives like Platinum Love Bands and in-store activations featuring celebrity endorsements.
This resilience reflects platinum’s growing acceptance among young urban consumers seeking differentiated, emotionally expressive designs in bridal and self-purchase categories.
In the UAE, platinum jewellery retail sales grew 25% year-on-year, extending the metal’s footprint to 136 stores across the Gulf Cooperation Council (GCC). Demand remains particularly strong among South Asian consumers. PGI’s focused retail collaborations and targeted marketing are reinforcing platinum’s luxury positioning within the region’s high-value jewellery segment.
Japan marked its sixteenth consecutive quarter of jewellery market expansion, with platinum once again outperforming the overall sector. Unit-based platinum jewellery sales grew 1% year-on-year, supported by robust demand in department stores, discount outlets, and online channels. Affordable platinum necklaces, Kihei chains, and pendants continue to attract price-sensitive yet quality-conscious consumers shifting away from gold.
In the US, platinum’s appeal continues to strengthen. Among PGI’s strategic retail partners, platinum jewellery unit sales rose 19%, while revenue increased nearly 24% year-on-year, driven by high-value purchases and strong performance in wedding bands and fashion jewellery.
Retailers are increasingly converting white gold inventory to platinum, highlighting a consumer shift toward premium, enduring materials for symbolic purchases.
With robust recovery across multiple markets, PGI’s Q1 2025 review underscores platinum’s renewed global relevance. As consumer tastes evolve toward meaningful luxury and authenticity, platinum jewellery’s unique blend of rarity, purity, and emotional significance continues to shine on the global stage.
