Consumers Switching to Platinum as Gold Price Soars

 

Consumers are switching from gold to platinum as the price gap between the metals widens, according to a report published today (15 April) by the Platinum Guild International (PGI).

In the US, unit sales of platinum jewelry fell (-10% year-on-year), says its Q4 2025 Platinum Jewellery Business Review, but the value increased (+48% year-on-year).

The PGI does not provide hard figures on volumes or values, but says its strategic partners reported double-digit revenue growth during the quarter.

Platinum traditionally traded above gold, but the switch came in December 2008 during the global financial crisis.

Gold is now more than twice the price of platinum. Today’s spot prices show gold at approximately $4,825 per ounce and platinum at about $2,148 per ounce.

White gold remains less costly than platinum though, because it is generally used in an alloy with palladium or nickel.

“The momentum we observed across key regions in the fourth quarter validates platinum’s growing relevance in today’s jewellery market,” said Tim Schlick, CEO of PGI.

 “With gold prices remaining elevated, platinum continues to offer a premium yet accessible alternative that appeals to value-conscious consumers and luxury buyers alike.”

Retail sales of platinum jewelry grew 10% by value in India, and 7% by volume in China.

Source: DCLA

Contraband handbags, diamonds and vodka auctioned off by French government

France’s finance ministry is auctioning off customs contraband in an “extraordinary sale” featuring platinum bars seized en route to the UK, designer handbags, valuable historic coins, several collections of uncut diamonds and 2,016 bottles of vodka.

The 350 lots – valued collectively at about €1m – also include a Volkswagen Golf stopped at France’s border with Spain and found to contain 480kg of cannabis resin.

A white gold Rolex set with 40 rubies, with a catalogue estimate of €15,000. 

More than 1,200 potential buyers have signed up to take part in the auction, which will be held in the finance ministry at Bercy in Paris.

The 14 platinum bars weighing 1kg each and stamped “Crédit Suisse” were reportedly discovered by French customs officials in the baggage of two people travelling to the UK who claimed they were working for a Paris business. Each ingot is for sale at a starting price of €22,000.

One of the 14 platinum bars up for auction. 

Seized items detailed in the catalogue also include gold sovereigns bearing the heads of the British monarchs Elizabeth II, Victoria, Edward VII and George V, as well as several gold “Napoléons”.

Among the luxury goods up for auction are Louis Vuitton, Chanel, Fendi and Valentino handbags and several expensive watches including a white gold Rolex set with 40 rubies – catalogue estimate €15,000 – as well as perfumes and a pair of Bottega Veneta shoes seized at Nice airport. The uncut diamonds, being sold in several lots – one of which is listed as totalling 197.95 carats – were seized at Paris airports.

Certain items will be sold only to professional buyers for security or legal reasons, including three and a half pallets of Grey Goose vodka bottles, listed with a starting price of €10,000.

Three and a half pallets of Grey Goose vodka bottles are listed with a starting price of €10,000

The finance ministry said the sale reflected “the diversity of objects seized by customs officers”.

“The customs service battles daily against all illegal traffic that threatens our territory and our society in order to protect citizens and the environment,” it added.

Source: DCLA