Pandora switching to platinum from silver as prices surge

Jeweller Pandora has said it will switch to platinum from silver in some of its ranges in response to the dramatic increase in silver prices.

Silver has seen its price more than double over the past year, with other precious metal prices also surging.

Pandora's chief executive said its aim was not to make all jewellery platinum-plated, but silver will be reduced to around 25% of its offerings as it seeks to reduce its exposure to the metal given the recent price volatility.

The Danish firm, one of the world's biggest jewellery retailers, currently makes the majority of its jewellery from silver.

Pandora said in its financial results that it wanted the pivot to platinum to be completed by 2028.

It said platinum would "deliver improved everyday-wear performance compared to silver" and that its own consumer testing showed people had "high acceptance" of the hardy metal.