T
he jewelry industry has been struggling under the weight 
of the unprecedented price of gold but among jewelry 
designers, a trait is emerging from the tumult.
The best among them are not just making thinner 
pieces or repricing merchandise over and over again. They 
are learning to be more flexible, creative, and intentional.   
Designers are embracing the use of materials like wood and 
leather, creating smaller yet more thoughtful collections, and in 
some cases, leaning into the investment value of gold when telling 
stories through their jewelry. 
To paraphrase one designer interviewed for this story, the only way 
out is to follow the gold price, which has gone straight up. 
In 2025, gold was $2,625 an ounce. 
So far in 2026, the price has basically doubled ($5,340 was its 
2026 peak as of press time), says David Siminski, vice president 
of sales and marketing at United Precious Metals. 
The problem is not just gold. The other precious metals have 
followed its path.
Platinum was $800 an ounce in 2025. As of press time, it was 
about $1,960. 
SURVIVE
WILL
VE
VE
The price of gold has risen to unprecedented levels, 
affecting how many pieces designers can make at once, 
which materials they use, and how they position themselves 
to stand out in a market where mistakes are costly. 
BY NATALIE FRANCISCO
NATIONAL JEWELER          53
Marie Lichtenberg’s “Check” 
locket with white and black 
diamonds totaling 4.28 carats on 
an 18-karat yellow gold “Rosa” 
classic chain ($40,200)

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