As silver prices soar, jeweler Pandora turns to platinum

Surging silver prices are spurring jewelry maker Pandora to find a less costly alternative to the shiny metal: platinum. 

The Danish company said Wednesday that it will continue selling silver jewelry, but that it will add platinum-plated versions of its best-selling bracelet to make it more affordable — including for Pandora. 

The company plans to introduce the new platinum-plated pieces later this year. Initially, they will be available in 30 stores and through the company's e-commerce site. In the second half of 2026, Pandora will add more platinum offerings, including a selection of charms, it said.

Pandora said adding platinum-plated items will help reduce its reliance on silver as prices have skyrocketed.

The company's most popular bracelet starts at around $80 in sterling silver. The platinum-plated version of the same piece will cost roughly the same amount, a Pandora spokesperson told CBS News. The same bracelet in 14k gold retails for $2,350, while the gold-plated version costs $200.

Pandora also sells lab-grown diamond jewelry that is made in Thailand. 

Gold and silver have soared over the last year, while more recently investors have piled into the precious metals as a hedge against risks stemming from economic uncertainty and rising global debt.

As of Thursday, silver cost $76.06 an ounce, according to Priority Gold. That's up 135% from $32.30 per ounce in early 2025. While platinum remains far more expensive than silver, at $2,100 an ounce, it's up only 3% over the past year.