Demand for platinum jewellery has shot ahead in the last quarter according to the latest hallmarking data, as retailers take on more platinum to satisfy consumer appetite.

The total weight of platinum pieces that passed through the four UK Assay offices in the third quarter of 2003 leapt 62 percent compared to the same period last year, highlighting that retailers are opting to stock the precious metal and are expanding platinum jewellery collections in response to buoyant consumer demand.

“This shows the platinum jewellery market is very strong and is still growing, as consumers want platinum, not gold,” Gary Williams, Sales Director at jewellery manufacturers B&N, said.

Over 86,000 pieces of platinum jewellery received the fineness control stamp between July and September 2003, representing a total weight of over 742 kilograms. 

Johnson Matthey estimates that total demand for platinum jewellery in the UK in 2003 will be at least 30 percent higher than in the previous year.