Pandora Shares Rise 55% as Jeweller Advances Shift from Silver to Platinum

[SMM Flash] Pandora, the world’s largest jeweller, is continuing its strategy of replacing some sterling-silver jewellery with platinum-plated alternatives, despite silver prices falling sharply from their January peak above $120/oz to below $65/oz in August. CEO Berta de Pablos-Barbier told CNBC that the move is part of efforts to diversify the company’s material portfolio, reduce exposure to volatile precious-metal prices and support profit margins. Pandora shares have rebounded around 55% over the past three months, supported by the company’s recent performance.

The continued shift towards platinum-plated jewellery could provide a positive demand signal for platinum from the retail sector. Pandora has hedged 90–100% of its 2027 silver requirements at around $65/oz and raised its 2026 organic growth guidance to 0–3%, from -1% to 2% previously. The company also increased its full-year operating profit margin guidance to 22–23%, highlighting its focus on maintaining margins while diversifying its use of precious metals.