Hallmarking figures for October show year-on-year rise

At a 14.6 per cent rise, silver showed the biggest increase. Gold, however, struggled through the period and was down by 4.9 per cent, making it the only precious metal category to show a fall.

Platinum also did exceptionally well. Unlike gold, where high bullion prices are dampening demand, platinum retained its high prices and managed to see a 13.4 per cent increase in the numbers hallmarked.

Palladium fared moderately, rising 3.5 per cent, with all of its increases coming from the higher 950 fineness.