Platinum sales jumped 10 percent, while silver jewelry sales rose 15 percent

Sales of platinum and silver jewelry increased by double digits in 2015, according to the two metals’ promotional groups.

Platinum jewelry sales rose approximately 10 percent in ounces last year, the third consecutive year sales in ounces have risen, according to research from Platinum Group International.

Platinum’s lower price sparked the surge, the group says. In 2015, its price averaged $1,053, 10 percent below the average price of gold. In addition, more majors are carrying the metal, and platinum jewelry imports jumped 50 percent last year.

According to the Silver Institute, U.S. retailers reported an average 15 percent increase in silver jewelry sales in 2015.

Its research also found:

– Silver jewelry sales comprised 35 percent of retailers’ sales in terms of units in 2015, and 27 percent of dollar volume.

– 45 percent of retailers said silver had the best turnover rate in 2015, followed by diamond jewelry (22 percent), bridal (17 percent), and gold and platinum (4 percent).

–  87 percent of retailers believe silver’s surge will continue.

Rob Bates

JCK News Director