记者丨 张欣,实习生彭伊焓 编辑丨杨希,江佩佩 黄金狂飙后，铂金也在逆袭 ！ 谁能想到， 2025年现货铂金价格暴涨50%，突破1353美元历史高位，被炒成黄金平替全网刷 屏 。21世纪经济报道记者实地探访北京地区贵金属市场发现，在 黄金价格高企背景下，不少 年轻人开始热捧铂金饰品。 据Wind ， 截至7月9日， 2025年上半年，现货白银价格累计上涨超25%，现货铂金价格更是 上涨近50%，涨幅均超过黄金 ，成为投资者和消费者关注的热点。 | 国际贵金属 | | | | | | --- | --- | --- | --- | --- | | 名称 | 现价 | 涨跌 | 涨跌幅 | 年初至今 | | NYMEX铂 | 1378.1d | -13.2 | -0.95% | 51.37% | | 现货铂金(美元/盎司) | 1353.10 | -21.40 | -1.56% | 49.68% | | 伦敦银现 | 36.506 | -0.215 | -0.59% | 26.38% | | 伦敦金现 | 3292.230 | -8.410 | -0.25% | 25.46% | | COMEX白银 | 36.6 ...

Core Viewpoint - The article discusses the resurgence of platinum jewelry in China, driven by rising prices and changing consumer preferences, despite a long-term decline in demand and recognition among younger consumers [3][4][14]. Group 1: Market Trends - Platinum jewelry consumption in China has significantly declined from 45 tons in 2016 to 12.75 tons in 2024, with approximately 60% of the market demand previously supported by strong consumer interest [3][4]. - In 2025, platinum prices surged by 40%-50%, with leading brands like Chow Tai Fook and Lao Feng Xiang reintroducing platinum jewelry to their offerings [4][6]. - In April 2025, China imported 11.5 tons of platinum, marking the highest monthly import in a year, indicating renewed interest from jewelers and investors [6]. Group 2: Financial Performance of Jewelry Brands - The jewelry sector has faced challenges, with 13 out of 15 listed jewelry companies reporting a decline in net profits in 2024, and Chow Tai Fook's revenue dropping by 17.5% year-on-year [7][8]. - The gross profit margin for Chow Tai Fook has decreased from 29% in 2009-2017 to 20.5% in 2024, highlighting the pressure on profitability in the jewelry market [9][10]. - The demand for platinum jewelry is seen as a potential solution for brands struggling with declining gold jewelry sales, as platinum typically offers higher profit margins [9][10]. Group 3: Consumer Behavior and Preferences - Younger consumers, particularly Gen Z, show limited recognition of platinum, with less than 30% awareness among those born after 2000 [14][15]. - Despite a slight increase in platinum demand in 2024, the growth of 0.8% is considered negligible in the broader market context [15][16]. - The perception of platinum as less valuable compared to gold affects consumer interest, with many young consumers opting for alternatives like silver or gold-plated items [19][20]. Group 4: Supply and Demand Dynamics - The global supply of platinum is projected to decline, with a forecasted supply gap of 30 tons in 2025, driven by reduced production and increasing industrial demand [25][27]. - Industrial applications, particularly in the automotive sector, account for a significant portion of platinum demand, with expectations that hydrogen energy projects will further increase this demand [25][26]. - The recycling of platinum from jewelry remains low, contributing to supply constraints, as many jewelers lack the capability to recycle platinum effectively [29].

以下文章来源于斑马消费 ，作者陈碧婷 斑马消费 . 寻找泛消费领域的斑马企业 年内涨幅高达45.28%。 文 ｜ 陈碧婷 来源｜ 斑马消费（ID：banmaxiaofei） 封面来源 ｜ unsplash 黄金疯涨之后轮到铂金。 2025年，沉寂很久的铂金颇具热度， 年内涨幅高达45.28%， 远超同期黄金涨幅。 铂金逆袭 2025年贵金属市场最戏剧性的反转，莫过于铂金价格的狂飙突进。 上海黄金交易所数据显示，截至6月30日收盘，铂金价格为324.09元/克，较年初上涨45.28%，涨幅远超同期黄金表现。让人不禁回想起 铂金在2008年的辉 煌：当时铂金价格达528元/克，为黄金价格的两倍以上。 乘着铂金高价的东风，铂金首饰也曾深受年轻人追捧。那会儿，周大福、老凤祥等品牌的铂金婚戒系列占据柜台C位， 铂金"爱情金属"的营销理念深入人 心。 伴随着铂金价格下跌，24K黄金首饰设计持续改进，铂金首饰的市场热度骤降。 如今金价暴涨，更多消费者对黄金首饰持观望态度。 受需求萎缩与高库存成本双重挤压，部分黄金首饰商家选择将经营重心转向铂金首饰领域。 世界铂金投资协会指出，2025年，深圳水贝地区新增超10家独立铂金首饰 ...

今年以来，全球贵金属市场走势分化，白银和铂金价格涨幅显著超越黄金，成为投资者关注的焦点。据 黄金价格网消息，7月5日，现货白银价格站稳36美元上方，接近13年以来的高点，已连续六个交易日上 涨。铂金价格年内更是暴涨36%，突破300元每克，展现出强劲的上涨势头。 7月6日，记者走访成都多个珠宝专柜了解到，消费者对白银、铂金的购买热情同样高涨，多家门店销量 上涨。白银、铂金价格为什么会上涨？现在是入手的好时机吗？ 01 白银首饰价格普遍上调15%-20% 记者走进商场，周末的铂金品牌柜台十分热闹。"现在买铂金戒指的人比买黄金的多，铂金首饰销量比 去年增加了一半。" 专柜里，铂金首饰款式丰富，戒指、项链、手镯等应有尽有。相关数据显示，2025 年第一季度，全球各地区铂金首饰需求均实现增长，同比增幅达9%，总量达17吨。 铂金价格上涨主要源于供需关系的改善以及市场情绪的转变。在供应端，全球铂金矿产主要集中在南非 等少数地区，供应相对集中且受到矿产资源限制。而在需求端，随着汽车行业复苏，尤其是对环保要求 的提高，汽车尾气催化器对铂金的需求增加；同时，珠宝首饰行业对铂金的需求也稳步回升。 在投资市场上，铂金吸引了不少追 ...

首饰市场的新宠：在首饰领域，黄金长期以来占据着主导地位。但随着铂金价格的相对优势逐渐显现（目前铂金现货价格远低于黄金），加之珠宝制造商的 大力推广，消费者的目光开始逐渐向铂金转移。中国作为全球重要的珠宝消费市场，深圳水贝市场的批发商们积极转型，加大对铂金产品的铺货力度，使得 铂金首饰需求呈现出强劲的增长态势。2025 年，全球首饰领域对铂金的需求预计将同比增长 5% 至 66 吨，其中中国市场首饰需求更是有望强劲增长 15% 至 15 吨 。 在贵金属市场的风云变幻中，铂金价格近期的表现格外引人注目。2025 年以来，铂金价格一路攀升，尤其是 5 月中旬后，其涨势更是如火箭般迅猛。截至 6 月 23 日，铂金首饰价格已达约 300 元 / 克，相较年初涨幅近 40%，一举创下近 5 年的价格新高。与此同时，国际市场上，截至 6 月 24 日 12 点左右，铂金 现货价格徘徊在 1286 美元 / 盎司附近，期货价格则在 1297 美元 / 盎司左右，年内涨幅均超 40% 。如此强劲的涨势，让持有铂金的投资者们心潮澎湃，也让 众多旁观者跃跃欲试。 一、推动铂金价格上涨的因素剖析 （一）供应端的困境 全球铂金供应 ...

金价波动，是投资还是观望？黄金投资指南 最近金价的波动，让许多准备购买黄金的人心生疑惑。无论是想购买金饰结婚，还是打算投资保值，都难以把握最佳时机。究竟现在是否适合购买黄金？如 何才能避免被"割韭菜"？本文将为您详细解读。 金价现状：高位震荡，各品牌价格差异显著 近期各大金店黄金价格普遍上涨。以今日为例，潮宏基、金至尊、六福珠宝和周大生等品牌的黄金零售价均已突破1005元/克，金条价格持平。铂金价格则 在569元/克左右，周六福略高，为574元/克。然而，价格差异也较为明显：周六福黄金零售价仅为978元/克，金条价格更是低至890元/克，展现出显著的价 格优势。老凤祥和老庙黄金金条价格则分别达到1006元/克和1002元/克，略高于零售价，但仍处于高位震荡。菜百和周生生金条价格相对较低，分别为878 元/克和943元/克。铂金方面，老凤祥和老庙的价格为470元/克，低于其他品牌。 总而言之，黄金价格目前处于470元/克到1006元/克区间震荡，铂金价格则在470元/克到574元/克之间浮动。对于注重性价比的消费者来说，菜百、周六福和 周生生的金条价格更具吸引力。 但最终选择仍需根据自身需求和预算进行综合考量。 ...

Core Insights - The precious metals market is experiencing a significant shift, with platinum prices rising above 310 RMB per gram and palladium at 245 RMB per gram, reversing the previous trend where palladium outperformed platinum [1] - The demand for platinum is expected to surge due to its critical role in hydrogen fuel cells, with projections indicating a substantial increase in platinum usage in the automotive sector, particularly in hydrogen fuel cell vehicles [3] - Palladium faces long-term demand pressure due to the decline of the internal combustion engine market, despite new applications emerging in electronics and 5G infrastructure [4] Group 1: Market Dynamics - The price dynamics of platinum and palladium have been volatile over the past decade, with palladium previously reaching a peak price that was 137 RMB higher per gram than platinum in 2019 [3] - The automotive industry's shift towards stricter emission standards significantly boosted palladium demand, while platinum struggled due to weak jewelry demand and limited industrial applications [3] - The current market transformation is driven by the rise of the hydrogen economy, redefining platinum's strategic value as a key catalyst in fuel cells [3] Group 2: Demand and Supply Factors - The Chinese government aims for a fleet of 1 million hydrogen fuel cell vehicles by 2030, indicating a projected exponential growth in platinum demand [3] - In the jewelry sector, platinum sales have seen a consistent growth rate of over 15% for two consecutive years, driven by consumer preferences for its durability and purity [3] - Palladium's demand is being challenged by the increasing penetration of electric vehicles, which reduces the need for palladium in traditional combustion engines [4] Group 3: Recycling and Recovery Trends - The recovery price of platinum waste has recently surpassed that of palladium, reflecting a shift in supply-demand dynamics [6] - Global platinum recovery has increased from 180 tons in 2020 to 250 tons in 2023, while palladium recovery remains constrained by technological limitations [6] - The efficiency of palladium recovery is only 60% that of platinum, exacerbating supply tightness for palladium [6] Group 4: Investment Perspectives - Analysts suggest that platinum may be viewed as a "hard currency" in the new energy sector, with potential price elasticity over the next five years [6] - Palladium is characterized as a "balancer" between traditional industries and emerging technologies, leading to price fluctuations influenced by dual forces [6] - Market risks, including labor strikes in South African platinum mines and changes in Russian palladium export policies, could significantly impact the valuation of these metals [6]

近期国际金价震荡下跌，6月24日创下本月新低。而在黄金"退热"之际，沉寂多年的铂金却异军突起：国内铂金 9995价格强势突破300元/克大关，创下五年新高；截至6月25日发稿前，现货铂金一度触及1327.49美元/盎司，今 年以来累计涨逾40%，远超现货黄金28%的涨幅。 铂金首饰价格随之"水涨船高"，周生生、六福珠宝等品牌铂金首饰报价已超500元/克。 不过，黄金价格飙升，反而让黄金首饰销量下滑。这波价格强势上涨，对于"失宠"多年的铂金首饰来说，究竟能 助力其打一场翻身仗，还是因价格高企令其本就不温不火的市场处境雪上加霜？铂金的这轮"逆袭"，究竟是消费 复苏的信号，还是昙花一现的行情？ 十年蛰伏迎涨势，铂金柜台仍遇冷 "年初想买条铂金项链，每克300多元时没下手，突然就涨到500多元了。"近期，随着铂金价格上涨，也引起了消 费者对铂金首饰的关注。在社交媒体，有网友晒出铂金手链或者项链，声称是十年前以600元/克高位买入的"大怨 种"。的确，早在2014年前后，铂金首饰比黄金首饰更贵，也更时髦。有网友称，"2012年结婚，我们定制了一对 铂金戒指，那时没人买黄金的，觉得土，今年侄女结婚，婚戒就变成黄金的了。" ...

Core Viewpoint - The surge in platinum prices, with an 11% increase in May marking the largest monthly rise in a decade, presents a significant opportunity for the industry, particularly for Mingpai Jewelry, which is positioned as a leader in the platinum market [1][5]. Group 1: Industry Background - Mingpai Jewelry has established itself as the "No. 1 brand in China" for platinum, with one in three platinum consumers choosing its products since 2007 [2]. - The company has a rich history, being the first to introduce platinum jewelry in mainland China in 1993 and has since innovated in production techniques and marketing strategies [1][2]. Group 2: Technological Innovations - Mingpai Jewelry has initiated a "platinum manufacturing revolution" by adopting advanced Japanese high-pressure forging technology, enhancing the density of platinum jewelry by 20% [3]. - The company employs seamless fusion technology to eliminate physical seams, creating a fluid design that symbolizes emotional connections [4]. Group 3: Strategic Opportunities - The recent rise in platinum prices has sparked renewed interest in platinum jewelry, but the transition from price increase to product sales requires effective product development, marketing, and branding [5]. - Mingpai Jewelry emphasizes design philosophy, focusing on contemporary emotional insights to redefine the essence of its products [6][7]. Group 4: Wealth Creation Strategies - Mingpai Jewelry has established long-term agreements with upstream mining groups to secure cost advantages amid rising raw material prices [8]. - The company is revolutionizing consumer experiences by expanding the use of platinum from wedding necessities to everyday luxury items, targeting professional women with new product lines [8]. - By democratizing high-end craftsmanship, Mingpai Jewelry aims to make premium technology accessible at lower price points, thus attracting high-net-worth customers [8].

线下铂金饰品 风水轮流转，过气老网红开始回春？"曾经铂金首饰的价格比黄金还贵，也有600多元/克的时候。"有黄金投资者重新杀回铂金赛道，甚至花费百万元囤铂 金条。6月12日，记者走访了成都线下珠宝店看到，黄金首饰仍然占据"C位"，消费者购买铂金的热情不比黄金高。但商家周静看好铂金后市，她称："因 黄金价格高涨竞争激烈，周围已有不少商家开始转战卖铂金首饰。" ◀ 铂金价格飙升成"黄金平替" 有商家开始换赛道卖铂金 最近一段时间，国际金价波动加剧，国内品牌首饰金价最高突破每克千元，全国各地上演"淘金热"，黄金价格的持续飙升，也带动铂金价格高涨。6月11 日，现货铂金上涨近4%，创近年来新高，报1264.20美元/盎司。按照销售价格计算，年初至今，铂金累计涨幅约35%，已超过黄金年内累计涨幅。 最近，周静店里的镶嵌锆石、莫桑石等铂金首饰比较受欢迎。"铂金经过很长一段时间稳定的价格后，最近一个月差不多涨了近20元/克，后面应该还会有 更大的上涨空间的，作为新入局者，希望大家做好品控，不要像黄金一样陷入价格战的泥潭。"周静说。 ◀ 记者实探：铂金终端消费较为沉寂 ▶ 在珠宝首饰领域，黄金和铂金一直是两大贵金属巨头，当黄 ...