An increase of 33.9 per cent was witnessed in July hallmarking figures for platinum jewellery, according to the latest statistics.

Information from the Assay Offices has shown that 8,200 ounces of platinum jewellery were hallmarked in July, which is the equivalent of 30,409 items of platinum jewellery.

This represents a 33.9 per cent rise year-on-year from the July 2006 figures, which saw 7,701 fewer platinum jewellery items hallmarked. Despite this, the average weight of the platinum items was slightly down, to 8.4 grams.

Platinum has now been hallmarked for more than 30 years following the requirement that it was hallmarked first coming into effect in 1975 .

The average price for platinum in July also fell, with the £642 per troy ounce figure from July 2007 a decline from the £668.56 per troy ounce seen in July 2006.

Any platinum that weighs over 0.5 grams must be hallmarked under part II of schedule I of the Hallmarking Act 1973, as amended by the Hallmarking (Exempted Articles) (Amendment) Order 1975 and the Hallmarking (Exempted Articles) Orders 1982 and 1986, according to the Birmingham Assay Office.