No Telling Where Gold is Headed!

Hold on to your hats, fellow jewelry lovers! As I sit here typing this up, gold is vacillating at $3,300-$3,500 per ounce. Who knows where it will land by the time this goes to print? The one good thing I can say is that consumers are now very aware of the volatile cost of gold. You can’t read the paper or turn on the news without hearing about it. I have no control over the market. Unfortunately, my father did not secretly buy a gold mine in South America when I was little and hoard gold. Boy, do I wish he had! Occasionally, I get the guy who last bought gold in 1979 when he got married. He’s always very shocked when I tell him how much to replace that wedding band he lost. Usually, he just goes on Amazon and buys a silicone band. I do have lightweight gold options, and if selecting a thinner band, it can be affordable.

I don’t really know what to say about all this. Industry insiders are saying to brace for $4,500 an ounce. It may be difficult to stop my father from scrapping the whole store and retiring to Hawaii at that price. Not really sure what I would do at that point! In all seriousness though, we aren’t going anywhere. Gold has been in demand for thousands of years and will continue to be.

In the absence of heavy gold purchases, lab diamonds have filled the demand. People are pivoting from big gold looks and loving the big diamond looks they can get at reduced prices in lab diamonds. Our lab diamonds are still set in gold, but people are choosing more classic pieces, such as solitaire pendants, solitaire engagement rings, and lab studs. A couple of years ago, a woman came into the store inquiring about a solid gold heavy men’s bracelet. At the time, it would have run about $3,500. She looked at me wide-eyed like I was speaking Swahili. She said for that much, I can just get the fancy Toto toilet with the heated seat and bidet we want for our new house. That was a new one for me. I lost a sale to a crapper. Seriously, you can’t make this stuff up.

Another trend I have noticed since gold has risen is the influx in repairs. Many people are realizing they can’t replace things as easily and prefer to mend or restore older pieces. This is good for us; as a goldsmith, we are able to offer these services. Many other retail-only brick-and-mortar shops may be in trouble. That’s what makes my dad’s shop nearly recession-proof. Consumers these days want a one-stop shop. They want to maintain their precious heirlooms and have a stellar retail selection to peruse. I will continue to stock my store with interesting, affordable, and unusual pieces. I try to have items at many different price points so everyone can find something they love. Silver has always been popular and makes the perfect “just because” trinket or token of appreciation. I always have sand dollars, starfish, and palm trees in sterling silver.

Colored stones are popular as ever, and many gorgeous pieces have left our shop in a hurry. My father and I have collaborated on a couple of statement pieces in aquamarine. These are show-stoppers. The picture in this article is the very latest. There is nothing small or understated about this aquamarine. 15.75 carats of stunning aqua set in white gold and flanked by large half-moon lab diamonds. Dad and I sometimes agree, and this ring is a spectacular example of our cooperation and vision. Come see for yourself soon, the last one didn’t last very long.

Ladies, here is your regular reminder to stop in, have your ring cleaned and examined for wear and tear. It’s a good time for any sizing projects you may have since season is winding down. Our store is still fully stocked with beautiful and unique items. Lots of anniversaries are coming up, and I have a fantastic selection. Thanks again, Marco Island for a fantastic 2025 winter season. We look forward to a nice, relaxing summer and hope to see your familiar faces again in the fall when most of you return.