Editor’s Note
As silver prices surge, major jewelry brands like Pandora are adapting their strategies. This article explores how the company is shifting toward platinum to manage costs amid volatile precious metal markets.
Silver prices are through the roof. This has been one of the market’s major stories in recent months, alongside gold. In this context, Pandora, one of the world’s most recognized jewelry brands, has been affected by this price increase. To give an idea, the brand purchases up to 300 million tons of silver annually, a situation the company has been forced to reconsider.
Now, the jewelry company is looking to control production costs by manufacturing more bracelets with platinum. Although platinum also carries a high price, it significantly reduces the financial burden. At $80 per ounce, silver remains at a price more than double that of a year ago. In fact, this increase surpasses that of gold, which has also risen but less sharply than silver.
Pandora is characterized as a jewelry brand that, despite its quality materials, is an option affordable to many more customers than other renowned brands.
However, due to these market fluctuations, the brand has had to thoroughly review its business model.
This is why the brand has announced that it will launch a line of platinum-plated products to reduce its dependence on silver and continue offering quality products without raising prices due to market increases.
Platinum, on the other hand, is a material that has also been inflated by the market increase over the past year. In total, this rise reaches 3% of the original price, amounting to about $2,100 per ounce.
The company’s results report indicated that sales had been affected by the market situation and the slowdown experienced by the United States at the end of 2025. However, Pandora was able to increase revenue to $5.1 billion, representing a 2% increase in comparable terms.
The market is also being affected by the tariffs imposed by US President Donald Trump, as the company manufactures its jewelry in Thailand and has a large portion of its sales across the pond. Early last year, Pandora saw its profits increase due to the acquisition of lab-grown diamonds.
However, the company’s shares have lost half their value due to the decisions of the American leader. Precisely, Thailand has been penalized with tariffs of up to 20% on its products. Pandora’s shares continue to fall, and the price of silver poses an extreme danger to preserving the business model. This is why it clings to platinum as a substitute that could mean a turnaround in the direction the company has taken in recent months.
Now, at the start of 2026, Pandora is watching market fluctuations with anticipation to see if this decision can cushion the decline they have been suffering for months.