The Jewellery Lovers’ Guide to the Highest Ever Gold Prices
If you’ve been browsing jewellery lately, you may have noticed prices creeping upwards; even for pieces you’ve seen before.
So what’s really going on? Why are gold prices at their highest levels in history, and how does it affect what you buy?
Here’s a clear, customer-friendly look at what’s happening in the gold market, and how to shop confidently in changing times (note - you can also discuss these issues with your jeweller - just show them this blog post if you're worried about pricing).
Why are gold prices so high right now?
When the world feels uncertain, investors turn to gold. It’s long been seen as a “safe haven” - a solid store of value when currencies, stocks or politics feel unstable.
Recently, global events, high inflation and fluctuating exchange rates have pushed gold demand (and prices) to record highs. Trump's tariffs and the weakened dollar haven't helped.
So while your favourite jeweller hasn’t suddenly raised their mark-ups, the raw material itself - the gold - now costs significantly more than it did even six months ago.
It’s not your jeweller - it’s the metal
Gold is traded by weight and priced per gram. It costs the same wherever you buy it in the world.
When the global gold price rises, the cost of every gram that goes into a ring, pendant, or clasp increases too.
That means even designs that haven’t changed, or have been in collections for years, become more expensive to produce.
Why existing pieces can also go up in price
Even if a piece was made when gold was cheaper, its current retail value is linked to today’s gold price.
Jewellers adjust their pricing to reflect what it would cost to remake that same design now, not what it cost months ago. This keeps pricing fair, consistent, and realistic within the market.
So if you spot a ring you’ve been eyeing for a while, and it’s slightly more than before, that’s why.
Why prices vary between jewellers
Not all jewellers buy gold the same way.
Some use recycled or reclaimed gold, which can help stabilise costs. Others buy new gold for every batch of production, meaning their prices move more directly with the market.
And remember; the cost of gold is only one part of what you’re paying for - craftsmanship, design, and the time and skill that go into each piece are what truly define its worth.
If you're buying a piece from an independent jewellery designer then the real value of the piece will lie in the design.
Should you wait to buy?
Gold holds its value long-term. It’s one of the most stable and enduring materials on earth, which is why it’s used for wedding bands, heirlooms, and investment pieces.
If you love a design by an independent jeweller, it’s still a good time to invest. Independent jewellers can often advise on creative ways to stay within budget; recycling or scrapping unworn pieces to offset the cost, using 9ct instead of 18ct, or mixed-metal options, all while maintaining beauty and integrity.
How to shop smart during high gold prices
💛 Ask questions. Don’t hesitate to ask your jeweller about materials, sourcing, and process.
💛 Choose timeless. Opt for designs you’ll wear every day, not trend-led pieces.
💛 Support independent. You’re buying skill, story, and sustainability, not just gold weight.
💛 Think long term. Gold prices rise and fall, but overall gold is a solid investment.
The real value of gold jewellery
Yes, gold is expensive right now, but it has always been valuable.
When you buy fine jewellery, you’re investing in something lasting: the hands that made it, the story behind it, and the emotional weight it carries.
And that value doesn’t change, no matter what the market does.