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The Gold Price Effect
When gold prices rise sharply, consumer behaviour inevitably shifts. Buyers who may previously have defaulted to gold for engagement rings or wedding jewellery are increasingly weighing up their options, placing greater emphasis on value without compromising on quality or prestige.
Platinum is well positioned to meet these changing priorities. Naturally white, exceptionally durable, and highly secure for setting gemstones, it offers the lasting qualities consumers expect from a significant purchase while often representing stronger value than gold in the current market.
This shift is being reflected globally across the jewellery industry. Demand has strengthened throughout Europe and North America, while even China and India, traditionally two of the world's largest gold jewellery markets, have seen increased platinum imports. Together with industry reports showing platinum jewellery demand reaching a six-year high, these trends suggest consumers are increasingly viewing platinum not simply as an alternative to gold, but as a desirable choice in its own right.
What UK Hallmarking Data Tells Us
UK hallmarking figures offer one of the most reliable indicators of precious metal activity in the domestic market, reflecting manufacturing and trade activity across the supply chain. They are broadly regarded within the industry as the most consistent measure of market momentum available.
According to the official data, platinum 950 hallmarking volumes across all four UK assay offices grew by more than 40% between 2017 and 2025, with 2025 recording the highest annual total in nine years. Despite a dip in 2020 due to wider industry disruption, the trajectory across this period was consistently upward.
It is worth noting that 2026 data indicates some softening, with May 2026 platinum 950 hallmarking running 23% below the same month in 2025. However, May 2026 data also shows declines across all precious metals, with gold and silver each down 29% year-on-year in the same period. Platinum, at 23% down, is outperforming both in a challenging market environment.
What We Are Seeing
While market data sets the context, the strongest insight often comes from what retailers are actively buying.
Across our own collections, demand for platinum has remained consistently strong, particularly within semi-set designs. Timeless, understated styles continue to lead performance, reflecting ongoing consumer demand for jewellery that combines premium quality with lasting wearability and enduring design.
Our current best-performing platinum designs include:
R1-1226
R1-2249
R1-2460
W1031
R1-2252
R1-2329
W2025
How This Impacts Your Jewellery Range
Platinum has firmly established itself as more than a secondary option alongside gold. The consumer shift documented across the past several years, driven by gold price pressures, growing awareness of platinum's durability, and evolving perceptions of value, reflects a meaningful change in purchasing behaviour rather than a short-lived spike.
While early 2026 hallmarking data shows some moderation from 2025's nine-year high, the wider picture is important. The softening is being felt across all precious metals, and platinum is proving more resilient than gold or silver in the same period. The long-term fundamentals of rarity, durability, and growing preference among bridal customers have not changed.
A period of broader market adjustment may in fact be a sensible moment to build range depth ahead of continued demand, particularly for those yet to give platinum proper representation in their core collections.
If you are looking to build or extend your platinum offering, the following pieces from our current collections are strong starting points, selected for their versatility in platinum and their alignment with the aesthetic that platinum buyers consistently favour.
Recommended Styles for Platinum:
R1-2606
R1-2607
WR1-2607
R1-1394
R1-2613
R1-2618
R1-2619
R1-2620
M66-A1D
M66-B1C
M68-A1
M68-A1B
M69-A1
M69-A1B
M70-A1
M71-A1
M72-A1
M72-A1B
Explore more styles online today or get in touch to learn more.
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