WPIC – Platinum Valentine, Feb 2025

The report by WPIC "Platinum Valentine" explores the significance of platinum in the jewellery market, particularly around Valentine’s Day, and the evolving dynamics of platinum demand. Valentine’s Day, originating from a celebration of the martyr Valentine, has become a global event where gifts, especially jewellery, are exchanged. Platinum is highly favored among consumers and jewellers due to its durability and strength. A study by Johnson Matthey Technology Review highlights platinum’s superior wear resistance compared to gold. Iconic brands like Tiffany & Co. prefer platinum for its quality and hypoallergenic properties. Platinum jewellery, typically 950 parts per thousand in purity, is a major segment of platinum demand, constituting about 25% annually. Although demand declined from 2014 to 2023, particularly in China, growth has stabilized with an estimated 5% increase in 2024 and 2% in 2025. Demand growth outside China compensates for past declines, while China shows signs of recovery with modest growth expected in 2025.