Events & AwardsJun 06, 2025
Here Are the 2025 Retailer Hall of Fame InducteesThis year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
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
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
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design AtelierDiscover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las VegasThe “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.
Weekly QuizJun 05, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship RecipientMeredith Tiderington, an electrical engineering student, was selected for the award.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.
SurveysJun 03, 2025
Consumer Confidence Improves in May The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade ReportsThe company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat RubyThe large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
SourcingJun 02, 2025
David Allouche Joins Grandview Klein DiamondsThe diamond industry veteran has been named its senior sales executive.
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
