Mother's Day is now just weeks away and Americans are planning to spend a record amount of money to mark the occasion.

Research from the National Retail Federation indicates that consumers will spend an average of $139.14 on their mother this year, up from $122.16 in 2006. In total, Americans will splash out $15.73 billion for Mother's Day, $2.1 billion of which will be spent on jewelry.

Jewelry, in fact, will account for 32.8 per cent of all Mother's Day spending, and it seems certain platinum jewelry will account for a significant proportion of this.

According to the San Jose Mercury News, watches, earrings, rings, bracelets and brooches will all be popular choices this year, as consumers look for something "a bit glitzy and over-the-top".

Auction house Doyle New York will be selling a beautiful platinum bracelet from around 1950, with approximately 30-carats of diamonds. Experts believe it will attract a bid in the region of $40,000 to $60,000 and it is likely to make an ideal Mother's Day present for one fortunate parent.

"For mom, it's the thought that counts," said National Retail Federation president and CEO Tracy Mullin.

"As people find more creative ways to treat the women in their lives to something special, retailers of all types and sizes stand to benefit from Mother's Day."

Men are expected to be more generous than women this year, spending $172 in comparison to $107 on the perfect gift.