Platinum jewellery fabrication in Europe grew by an estimated 6% in 2025, recording its fifth consecutive year of growth, with the price differential between platinum and gold providing a tailwind. A further boost came from watchmakers, with Swiss watch hallmarking increasing by 28% year-on-year and 3% year-on-year in the second and third quarters, respectively.
Increasingly, European luxury watch houses have been turning to platinum, and last year saw a plethora of new designs incorporating platinum, which is widely-regarded as the pre-eminent metal for fine jewellery. In watchmaking, platinum is valued due to its purity, density and because it does not oxidise. Rolex, Chopard, A. Lange & Söhne, Vacheron Constantin, Chronométrie Ferdinand Berthoud, Cartier, and Parmigiani are among the brands that have recently introduced new platinum watches.
Rolex included a platinum watch when it unveiled its new Oyster Perpetual Land-Dweller collection. Crafted from 950 platinum, it is offered in two sizes, 36 mm and 40 mm, incorporating a platinum case and bracelet with a dial in ice blue – a colour that Rolex reserves for watches made of this prestigious metal.
Meanwhile, Chronométrie Ferdinand Berthoud selected platinum as its metal of choice when launching a new watch to celebrate the 75th anniversary of its partnership with Ahmed Seddiqi, a renowned watch retailer in the Middle East. Its Chronomètre FB 3SPC.3-4 features a 42 mm platinum case.
Seven-year high
Global jewellery demand for platinum increased by 7% year-on-year in 2025 to 2,157 koz, its highest level since 2018, with platinum’s price discount to gold being a key driver.
The Chronomètre FB 3SPC.3-4 in platinum (front). Picture Credit: Chronométrie Ferdinand Berthoud
Growth was experienced across most markets, especially China, although the market in India faced weakness as US tariffs negatively impacted demand from platinum jewellery exports.
This year, total platinum jewellery demand is expected to soften to 2,036 koz as the exceptionally strong demand in China seen last year is not repeated. In North America growth of 1% is anticipated, as platinum’s price discount to gold continues to support platinum jewellery, albeit the absolute cost of platinum jewellery is set to rise. Demand in Europe is expected to be flat, while in India, demand is projected to decline 15% year-on-year as challenging conditions persist.
