SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
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
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
AuctionsSep 29, 2026
Dionne Warwick’s Jewelry Goes Up for AuctionOnline bidding is open now for Julien’s sale of items owned by the “Walk On By” singer, whose final album comes out this fall.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
CollectionsSep 28, 2026
De Beers London Drops Water-Inspired High Jewelry Collection“Vibrations” features several firsts for De Beers’ high jewelry, including the use of chalcedony and diamonds sourced from artisanal miners.
CollectionsSep 28, 2026
Jessica McCormack Turns to Classic Motif for New CollectionThe “Bows” collection features three interpretations of the bow motif designed with Georgian and Victorian influences.
Events & AwardsSep 28, 2026
Guy Borenstein, Troy Underwood Among the Professionals Honored at AGS Conclave 2026The American Gem Society recognized industry members, one Guild, and a law enforcement official for their contributions to jewelry.
FinancialsSep 28, 2026
Instappraise, Jewelers Mutual Look to Simplify Jewelry InsuranceThrough a new system integration, customers can now receive instant personal jewelry insurance quotes at the time of appraisal.
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
