Ukrainians Buy Jewelry Less Often, and Gold Replaces Silver
The number of jewelry items undergoing state assay hallmarking is decreasing in Ukraine. In 2025, their quantity dropped by 26%, and the decline continues in the first quarter of 2026. Only after state assay control can jewelry items be legally sold in Ukraine, as legislation prohibits the sale of jewelry without a state hallmark.
At the same time, the market demand structure has changed: for the first time, gold jewelry has surpassed silver in the number of items receiving the state hallmark. This is evidenced by data from Opendatabot.
According to analysts, since 2020, nearly 35.8 million jewelry items have received the state assay hallmark in Ukraine. The average weight of one piece of jewelry was 2.3 grams.
In the first quarter of 2026, 1.1 million pieces of jewelry received the state hallmark. Compared to average monthly figures, this is 18% less than the same period last year.
Over six years, the largest share of hallmarked items were silver jewelry — 20.8 million units, or 58% of the total. Gold items numbered 15 million, and platinum only 7,200. During this time, only one palladium item passed control — in 2025.
Meanwhile, the market structure has changed. In 2020, 72% of all hallmarked items were silver, and gold accounted for 28%, but in 2025 gold surpassed silver for the first time. In 2026, this trend strengthened: 57% of all hallmarked jewelry are gold items, and 43% are silver.
Opendatabot explains this partly by the fact that for several years demand for silver has exceeded its extraction: the metal is actively used in the production of solar panels, electric vehicles, electronics, and semiconductors. Because of this, silver is becoming more expensive, and the jewelry industry increasingly competes with industry for raw materials.
At the same time, while Ukrainian manufacturers almost fully supply the gold jewelry market — only about 1% of gold items that undergo state hallmarking are imported — the silver jewelry market largely depends on foreign supplies: almost every third hallmarked silver item is made outside Ukraine.
Subscribe to our Telegram channel t.me/sudua and to Google News SUD.UA, as well as to our VIBER and WhatsApp pages, and follow us on Facebook and Instagram to stay updated on the most important events.
