Editor’s Note
**Editor’s Note:** As silver prices tumble, Pandora pivots from precious metal to protect its bottom line—a stark reminder that even “safe” investments are not immune to market volatility.
Pandora is the latest victim of the silver price crash, now seeking to change the material of its famous bracelets to protect itself from market fluctuations.
The stock market is more volatile than ever. Bitcoin or precious metals like gold and silver were considered safe investments just months ago, with record highs, but their values have plummeted in a matter of days.
Pandora, the well-known Danish jewelry brand, is making a radical shift. It aims to protect itself from market changes. Its bracelets and charms will no longer be made of silver, but the company assures there is an explanation.
The brand has opted to shift its production from silver to platinum, seeking to decouple from the volatility of the white metal in recent months. The value of this material has risen from barely 18.98 euros in March 2023 to peaks of 99.87 on January 29.
Pandora had noticed a common trend for a jewelry brand: customers began accumulating its products as if they were an investment. The image of the brand, known for its charms and collaborations with various companies, risked being tarnished.
The price of silver has multiplied by five in the last three years. This not only increases the brand’s production costs; the speculative wave of recent months was also affecting its stock market performance.
The high price of silver had penalized them. Now, they are betting everything on platinum for their bracelets and charms. They will first use this material in 50% of their jewelry in 2026, then 75% a year later.
Pandora is entering a new era with jewelry made from a platinum-plated alloy. This material trades at around $2,000 per ounce, almost 30 times more than the current value of silver, but the brand will use less of it.
The result? It will lower the manufacturing cost of its jewelry and reduce dependence on a highly volatile market.
Pandora has confirmed that they will experience a year of transition. The world’s largest jewelry brand sells silver bracelets starting at 60 euros and has little room to raise prices, as its customers are not willing to spend hundreds of euros on a single piece.
The arrival of platinum adds to other radical changes.