IndependentsAug 20, 2025
Bellman’s Jewelers Opens Second Store After COO's TikTok Takes OffThe New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”
MajorsDec 14, 2020
The Platinum Price Recently Hit a 4-Year Peak. Here’s Why
The metal saw its biggest monthly gain since 2008 in November and reached a high of $1,060 in early December.
In early December, platinum reached its highest per-ounce price since mid-2016. Pictured here is a diamond and platinum ring from A Link ($14,000).
New York—The price of platinum hit a four-year high this month, fueled by the falling U.S. dollar and a supply deficit.
As lockdowns aimed to curb the spread of COVID-19 went into place in March, the metal’s price bottomed out, hitting a low of around $600 per ounce in the middle of the month.
The metal has been on a gradual, but fluctuating, uptick since then, but multiple sources said the price has been held down by lower demand for diesel automobiles (platinum has been used as a catalyst to help reduce toxic emissions from diesel engines since the 1970s, an area that still drives its highest demand) and competition from gold and silver.
But the white metal rallied this fall, crossing the $900-per-ounce mark in July and the $1,000-per-ounce mark early in December, according to Kitco.
November marked platinum’s biggest monthly gain since 2008, with its per-ounce price rising more than 23 percent, metals trading platform Bullion Vault reported.
Earlier this month, it reached about $1,060 per ounce, Kitco showed. This is its highest point since Q3 2016, as shown by historic charts from Kitco and confirmed by websites Investing.com, Bullion Vault and Invezz.com.
The metal’s price is now aided by the falling U.S. dollar, Bullion Vault said, and a massive supply deficit that has become more apparent in the last quarter, according to the World Platinum Investment Council.
In its third quarter market report, the council said the white metal faces a deficit of more than 1 million ounces this year.
It predicted the supply deficit will continue into 2021; next year, it could be short more than 200,000 ounces.
The platinum price has also risen because of a stalled gold price as an improved global economy has decreased the need for safe-haven assets, encouraging investors to look elsewhere, The Wall Street Journal reports.
And it looks like the price of the metal could continue to rise, with Kitco noting it “appears new all-time highs in platinum are on the horizon,” especially as the World Platinum Investment Council estimates the increase in investment demand will continue into 2021.
Metals Focus predicts the platinum price will average above $1,000 per ounce in 2021.
In the United States, the bridal category led platinum jewelry retail sales recovery in the third quarter.
Consumers also are looking for meaningful products, and retailers are seeing platinum jewelry outperform others
Editors' Picks
Sponsored by
in this area, said the Platinum Guild International in its latest Platinum Jewellery Business Review.
Still, demand for platinum jewelry hasn’t recovered enough in the latter part of the year to make up for slow sales in the first half.
The World Platinum Investment Council estimates platinum jewelry demand will be down 13 percent year-over-year globally in 2020.
Demand is expected, however, to continue its recovery, with numbers returning to positive in 2021.
Still, demand for platinum jewelry hasn’t recovered enough in the latter part of the year to make up for slow sales in the first half.
The World Platinum Investment Council estimates platinum jewelry demand will be down 13 percent year-over-year globally in 2020.
Demand is expected, however, to continue its recovery, with numbers returning to positive in 2021.
More on Majors
The Latest
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
Weekly QuizAug 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaThe investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
CrimeAug 19, 2025
Customs Seizes 7,300 Pairs of Fake ‘Alhambra’ EarringsThe counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.
WatchesAug 19, 2025
Casio America Names New Timepiece Division ManagerCasio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.
CollectionsAug 18, 2025
John Hardy’s New ‘Dot’ Collection Is on PointOriginally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.
Events & AwardsAug 18, 2025
IJO Announces 2025 Vendor of the YearAllison-Kaufman has received the honor for the fourth year in a row.
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
