Rising gold prices are prompting a shift in India’s jewellery buying patterns, with platinum emerging as a strong alternative, according to the latest Q4 2025 report by Platinum Guild International (PGI).
India stood out as one of the more resilient markets, where platinum jewellery continued to outperform the broader category. PGI’s key retail partners reported a 10% year-on-year growth in platinum sales during the quarter, even as overall jewellery demand showed only modest expansion. This performance comes in contrast to global trends, where markets such as China experienced slower momentum, while the United States saw value growth but weaker volumes.
The shift is largely driven by record-high gold prices, which have encouraged consumers to rethink spending and opt for lighter or alternative jewellery options. Positioned as both premium and relatively more accessible, platinum is benefiting from this evolving value perception.
While festive demand offered some support to the overall market, high gold prices and a strong base effect kept volume growth under pressure. Within this landscape, platinum strengthened its appeal—particularly in branded segments that emphasize design, durability, and exclusivity.
Strategic marketing initiatives also played a key role in sustaining demand. Campaigns such as “Men of Platinum” helped connect with younger, value-conscious consumers, reinforcing platinum’s identity as a modern and aspirational choice amid price volatility.
Tim Schlick, CEO of PGI, noted that platinum’s growing momentum reflects its increasing relevance in today’s jewellery market. He highlighted that with gold prices remaining elevated, platinum offers a compelling mix of luxury and value, appealing to both aspirational buyers and traditional consumers.
Looking ahead, PGI plans to deepen its collaboration with industry partners to leverage this favourable pricing dynamic, focusing on innovation, targeted marketing, and strengthening platinum’s presence across bridal and fashion segments.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
