According to the PJBR, sales surged across key markets over the holiday season, including in China, India, Japan and the US.
In the States, platinum sales registered a 14% year-on-year growth in the fourth quarter of 2020, besting diamond and bridal jewellery.
A PGI survey in China revealed that 72% of retailers experienced better margins with branded platinum collections and premium platinum products in Q4.
Furthermore, the trade body’s retail partners in India reported 25% year-on-year growth in platinum sales towards the end of 2020.
Huw Daniel, CEO of PGI, said: “The latest quarterly PJBR shows that platinum has played a leading role in the jewellery market’s recovery.
“Retailers and manufacturers have prioritised platinum in their merchandising selections, driven both by favourable metal pricing and a new generation of products better suited to today’s consumers, who more than ever are seeking jewellery of meaning for both gifting and self-purchase.”
He added: “The latest research indicates strong consumer appetite for fine jewellery purchases in 2021 which bodes well for continued growth into 2021.”