International News
US Watch and jewelry sales remain steady in March, overall increase of 0.4 percent
US Watch and jewelry sales remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while
Watch and jewelry sales in the US remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while watch sales dipped, as consumers opted for higher-priced items, but bought fewer of them.
In February overall sales increased by just 0.2 per cent and in January they fell by 1.0 per cent
The US government’s BEA (Bureau of Economic Analysis) reported a 0.7 per cent increase in consumer spending in March, the biggest increase for two years, but said it was largely driven by a rush to buy cars before US reciprocal tariffs forced prices up.
Watch and jewelry sales have been characterized by very modest increases in recent months, following on from a year of sustained growth – 10 per cent or more in some months – as shown below.
Reciprocal US tariffs – announced in April, then paused until July – will almost certainly hit sales, as producers forced to either absorb the costs or pass them on to consumers.
International News
Platinum Jewellery Gains Share Amid Record Gold Prices, PGI Reports Q4 2025 Market Shifts
Momentum key Regions In The Q4 Validates Platinum’s Growing Relevance In Today’s Jewellery Market.
The Platinum Guild International (PGI) today released its Q4 2025 Platinum Jewellery Business Review (PJBR), highlighting varying regional performance trends, with platinum’s value proposition remaining supportive in key markets against a backdrop of record-high gold prices and evolving trade dynamics.
Tim Schlick, CEO of Platinum Guild International, Said:
“The momentum we observed across key regions in the fourth quarter validates platinum’s growing relevance in today’s jewellery market. With gold prices remaining elevated, platinum continues to offer a premium yet accessible alternative that appeals to value-conscious consumers and luxury buyers alike. Looking ahead, PGI remains committed to partnering with the trade to capitalise on this favourable price dynamic—driving innovation, supporting strategic marketing initiatives, and reinforcing platinum’s enduring value in bridal, fashion, and other key segments.”
Regional Market Highlights
China
China’s platinum fabrication softened further in Q4 after a strong first half, but still recorded a 56% annual increase for 2025. The slowdown was driven by a combination of slower inventory turnover and elevated metal prices, which diverted retailer capital towards gold and dampened restocking sentiment. Wholesalers liquidated generic stock to realise capital gains, while retailers prioritised operational resilience. Despite significant challenges, PGI’s retail partners outperformed the broader market, achieving a 7% year-over-year increase in platinum jewellery sales volume during the last quarter of 2025.
India and the Middle East
In India, platinum jewellery continued to outperform the broader market, with strategic partners’ retail sales growing 10% year-over-year. Overall jewellery demand saw a marginal uptick, supported by the festive season and a shift toward lightweight purchases, though volume growth was constrained by a high comparison base and sharp gold price increases. Promotional efforts for brands such as Men of Platinum reinforced platinum’s value amidst price volatility.
PGI continued expanding its UAE presence by onboarding new retailers, bringing the total to 174 stores at the end of 2025.
Japan
Japan’s jewellery market saw value recover in Q4 due to sustained price increases, while platinum jewellery unit sales recorded a notable 1.5% year-on-year recovery. This upturn was partly supported by substitution away from gold amid extreme price volatility. For the full year, platinum’s share of unit sales rose, whilst white gold’s share declined.
United States
In the U.S., platinum jewellery sales reflected a clear divergence between declining unit volumes and strong value growth, with dollar sales significantly outpacing volumes. Record-high gold prices cooled volume demand across the broader industry, but platinum’s price—remaining less than half that of gold—bolstered its appeal. Despite tariff-related headwinds, the shift from white gold to platinum accelerated, with strategic partners reporting double-digit revenue growth.
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