Levels of platinum hallmarking in the UK were higher than for any other metal in May, it has been confirmed.

According to the Birmingham Assay Office, 22,848 items received a platinum hallmark during the month, representing a year-on-year increase of 12 per cent.

In addition, 10,000 palladium items were hallmarked last month, which was slightly lower than the total of 11,000 recorded in April.

Michael Allchin, Chief Executive and Assay Master at the office, suggested that the figures for palladium are encouraging, considering it only recently received precious metal status in the UK.

Overall hallmarking increased by 1.4 per cent, with silver further contributing to the strong showing among white metals by posting a 9.4 per cent rise to 657,040 items.

However, gold saw a decline of 11.8 per cent to 404,091 items, while nine-carat gold was the worst-performing category, registering a decrease of 16.4 per cent.

"This is a continuation of the trend we have been seeing now for several years with gold continuing to struggle, particularly nine-carat gold," Mr Allchin told Professional Jeweller.

Palladium received precious metal status last July and it became compulsory for all palladium items to receive a hallmark on 1st January 2010.

Source:

Hallmarking of platinum shows the biggest rise at 12% (04/06/10)

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