In Ukraine, 1.1 million pieces of jewelry made of precious metals received the state hallmark during the first quarter of 2026, OpenDataBot reported on July 17, citing data from the Ministry of Finance of Ukraine.
The average monthly number of hallmarked jewelry items was 18% lower than in 2025. Last year, 5.4 million items passed state hallmarking inspections, which was 26% less than in 2024.
The largest decline in 2025 was in the hallmarking of silver items—down 32%. The number of gold jewelry items that passed inspection decreased by 20%.
After the outbreak of full-scale war, the market contracted sharply, but in 2023–2024 it rebounded to levels above pre-war levels. In 2023, 6.4 million pieces of jewelry received the state hallmark, and in 2024 a record was set at 7.3 million items.
The state hallmark certifies that a piece of jewelry meets the declared fineness of the precious metal. Ukrainian law prohibits the sale of jewelry without such a hallmark.
Gold jewelry surpassed silver for the first time in terms of the number of hallmarks in Ukraine
In 2025, gold jewelry surpassed silver for the first time in terms of the number of items passing state hallmarking inspections, according to data from the Ministry of Finance of Ukraine published by “OpenDataBot” on July 17.
In the first quarter of 2026, the share of gold jewelry among all hallmarked items rose to 57%, while silver accounted for 43%. By comparison, in 2020, silver jewelry accounted for 72% of the market, and gold for only 28%.
In total, since 2020, 20.8 million silver items and 15 million gold items have undergone state hallmarking. Thus, in the cumulative six-year statistics, silver still holds first place with a 58% share.
The shift in market structure is partly due to the rising price of silver and growing industrial demand for the metal. Silver is widely used in the production of solar panels, electric vehicles, electronics, and semiconductors, leading jewelry companies to compete increasingly with the industrial sector for raw materials.
