Platinum Jewelry Market in Europe Grows 6% Amid Luxury Watch Demand
The platinum jewelry market in Europe experienced a 6% growth in 2025, driven by increased demand for luxury watches and a favorable price comparison with gold. The Swiss watch industry notably contributed to this trend, with hallmarking rising by 28% in Q2 2025, and major brands like Rolex introducing new platinum models. Despite a global demand rise of 7% for platinum jewelry, the World Platinum Investment Council forecasts a decline to approximately 2.04 million ounces in 2026.
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Platinum jewelry production in Europe increased by approximately 6% in 2025, marking the fifth consecutive year of growth, according to the World Platinum Investment Council (WPIC). The price disparity between platinum and gold has made platinum more appealing to both manufacturers and consumers.
The European watch industry contributed to this trend, with Swiss watch hallmarking rising by 28% year-over-year in Q2 2025 and 3% in Q3 compared to the previous year. Notable luxury watch brands including Rolex, Chopard, and Cartier have launched new platinum models.
Rolex introduced a platinum model in its Oyster Perpetual Land-Dweller collection, featuring a 950 platinum case and an ice blue dial. Global demand for platinum jewelry rose by 7% in 2025 to 2.16 million ounces, the highest since 2018, driven mainly by the price advantage over gold.
However, demand in India weakened due to U.S. tariffs. WPIC forecasts a decline in global demand to around 2.04 million ounces in 2026, with North America expecting a 1% increase.
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