"Gold and silver surged through much of 2025 before plunging sharply late last month, with silver posting its steepest one-day drop since 1980. Even after the selloff, both metals remain well above where they started the year - and that volatility is filtering into jewelry pricing. How it works: Jewelry prices don't track daily metal swings. Pieces are often manufactured months in advance, so retail pricing lags."
"The big picture: To balance margins and maintain key price points amid the volatility, jewelers are getting creative. Some have leaned into styles that use less metal weight - such as open links and smaller-scale settings, Amanda Gizzi, senior vice president of Jewelers of America, tells Axios. Pandora, the world's largest jewelry brand by volume, recently announced it will introduce platinum-plated jewelry in part to reduce its reliance on silver and "navigate the new realities of raw material costs.""
Gold and silver rallied through most of 2025 before a sharp late-January plunge, with silver logging its steepest one-day drop since 1980. Both metals remain substantially higher year-to-date, and that volatility is affecting jewelry costs. Retail jewelry prices lag spot swings because pieces are often manufactured months in advance, but rising gold and silver spot prices have steadily pushed average jewelry prices upward. Jewelers are trimming metal usage through design choices like open links and smaller settings, and some brands are adopting alternatives such as platinum plating to moderate cost exposure. Sales remain strong amid a premiumization trend, with fewer lower-priced purchases and growth in higher-end sales.
Read at Axios
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