Along with a rising emerald gemstone trend that has arisen recently, platinum jewelry is expected to get a boost in sales in the New Year. While the biggest market for platinum comes from the bridal jewelry market, sales did drop in 2009 due to the economic downturn.
However, mostly due to the improvement of the global economy, platinum traded higher in just the first nine months of 2010 than all of 2009, and experts are expecting that growth to continue in North America throughout 2011.
In fact, according to the Platinum Guild International USA, growth in platinum in the U.S. is actually outpacing growth elsewhere around the world.
Jewelry sales in general were up 10.4 percent during the crucial month of December, and with the rising use of platinum in Hollywood, the precious metal is expected to trickle down to the everyday bridal industry more frequently to come.
Celebrity style icons like Jennifer Lopez, Megan Fox, and Beyoncé all favoring platinum for their engagement and wedding rings can certainly help influence a trend, and the fluidity of the precious metal actually makes intricate detailing, like floral motifs, easier to produce.
Intricate detailing like in the Venetian 5013R from Verragio, for example, which features a Round cut diamond center, flanked by two smaller Round cut diamonds, and set onto a twisted shank adorned with pave’ set diamonds. However, it is the delicate lace-like detailing inside of the band that is beautifully intricate in its folds and curves. The white color of the platinum also helps achieve a vintage inspired theme, another style that is expected to crop up more in 2011.
India is trying to catch up the U.S. in platinum sales by introducing the concept of “Platinum Day of Love,” which encourages couples who, is the face of so many arranged marriages, celebrate finding random, true love with a platinum ring. This would be a completely new gift giving tradition in India, but similar to the custom of marriage proposals in western world.
So while the global platinum market has seen a slowdown, it seems our celebrity culture has helped North America to not only hold steady in the market, but actually led experts in the market to be comfortable predicting growth for in the year to come.