WPIC Reports 6% Growth in European Platinum Jewellery Fabrication Driven by Watchmaker Demand
The World Platinum Investment Council (WPIC) reports a 6% increase in European platinum jewellery fabrication for 2025, driven largely by a 28% rise in Swiss watch hallmarking, with luxury brands like Rolex and Cartier incorporating more platinum into their designs. Global demand for platinum jewellery has also risen by 7% to 2.16 million ounces, the highest since 2018, though a decline is expected in Indian demand and a softening of total jewellery demand is forecasted for 2026.
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The World Platinum Investment Council (WPIC) reports a 6% increase in platinum jewellery fabrication in Europe for 2025, marking five consecutive years of growth. A significant contributor is the 28% year-on-year increase in Swiss watch hallmarking.
European luxury watch brands, including Rolex, Chopard, and Cartier, are increasingly incorporating platinum into their designs. Notably, Rolex launched a platinum watch in its Oyster Perpetual Land-Dweller collection, featuring a platinum case and ice blue dial.
Global demand for platinum jewellery rose 7% in 2025 to 2.16 million ounces, the highest since 2018, driven by platinum's price discount to gold. However, demand in India is projected to decline by 15%, while North America expects 1% growth and flat demand is anticipated in Europe. Total jewellery demand for 2026 is expected to soften to 2.04 million ounces.
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