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Platinum prices witnessed another upward move on Friday, May 8, as rising precious metal demand and changing jewellery preferences continued influencing the market. Compared to the previous trading session, platinum prices increased by nearly ₹1,000 per 10 grams, taking the latest retail rate to around ₹62,910 per 10 grams across most major Indian cities.

According to the latest market rates, platinum prices remained largely uniform nationwide, with cities such as Mumbai, Chennai, Ahmedabad, Kolkata, Jaipur, Bhopal, and Indore reporting similar pricing levels.

Latest Platinum Rates on May 8, 2026

Rising Gold Prices Are Changing Buyer Behavior

Jewellery industry experts say the sharp rise in gold prices is now directly impacting customer buying patterns across India. With gold prices reportedly approaching around ₹1.5 lakh per 10 grams in some segments, consumers are becoming increasingly cautious while making jewellery purchases.

Earlier, buyers mostly preferred traditional 22-carat and 24-carat gold jewellery. However, rising prices are now encouraging customers to explore more affordable alternatives that fit within limited budgets.

As a result, demand for 18-carat, 14-carat, and even 9-carat jewellery has increased significantly in recent months.

Lightweight and Budget-Friendly Jewellery Gaining Popularity

Jewellery retailers say customers are now prioritizing stylish, lightweight, and budget-friendly designs instead of heavy traditional ornaments.

The shift is especially visible among younger buyers who prefer modern jewellery that offers fashionable looks without extremely high costs. In response to changing customer preferences, jewellers are launching more trendy and lightweight collections aimed at budget-conscious consumers.

Industry experts believe inflation and rising precious metal prices are gradually reshaping the jewellery market, forcing both buyers and retailers to adapt to new spending patterns.

Platinum Becoming More Popular Among Young Buyers

Alongside gold, platinum is also gaining popularity in the Indian jewellery market, particularly among younger consumers.

Jewellers say platinum’s simple, elegant, and premium appearance is attracting buyers looking for something different from conventional gold jewellery. Its minimalist and modern appeal has made it increasingly fashionable for rings, chains, couple jewellery, and premium accessories.

Many buyers also see platinum as a luxury metal that offers exclusivity without the highly traditional image associated with gold ornaments.

Why Precious Metal Prices Continue Rising

Analysts say precious metal prices are currently being influenced by multiple global and domestic factors, including inflation concerns, geopolitical uncertainty, currency fluctuations, and strong investor demand for safe-haven assets.

Gold and platinum prices often move higher during periods of economic uncertainty because investors consider precious metals relatively safer compared to volatile financial markets.

At the same time, rising production costs and international market trends are also affecting domestic jewellery pricing.

Buyers Advised to Compare Rates Before Purchase

Jewellery experts recommend that customers compare prices across multiple sellers before making purchases, especially during periods of sharp price fluctuations.

Consumers are also advised to check hallmark certification, making charges, purity details, and buyback policies before investing in gold or platinum jewellery.

With changing market dynamics and evolving consumer preferences, affordable and stylish jewellery options are expected to remain in strong demand in the coming months.