2025 has quickly become the year of sticker shock. Prices are rising everywhere—driven by economic uncertainty, inventory shortages, and unpredictable tariff fees. For those of us in the jewelry industry, we’re also facing sharp increases in the cost of raw materials, especially gold, silver, and platinum. Here’s what’s happening in the market, where prices may be heading, and a few tips to help you plan for upcoming purchases or repairs.
Precious metals have always been a “safe haven” investment during times of inflation and volatility. As investors buy more gold, prices for manufacturers and jewelers rise too. In 2025 alone, gold prices are up more than 30% per ounce, while silver has nearly doubled. Over the last five years, gold has climbed from around $1,800 per ounce in 2020 to over $4000 as of October 8th, 2025.
Gemstones have been affected as well. Many fine-quality stones—such as rubies, sapphires, emeralds, and tanzanite—come from overseas and face tariffs ranging from 11% to 54%. Combined with soaring metal costs, it’s easy to see why jewelry purchased even a year ago might now cost almost twice as much.
Unfortunately, prices are likely to keep climbing. Analysts predict gold will surge well above $4,000 per ounce soon. Tariffs remain in place, and overall economic uncertainty continues to ripple through nearly every industry. Each time we reorder merchandise or materials for repairs, the cost tends to rise.
Have a repair?
At Frank’s Jewelry, we’re committed to offering high-quality pieces and fair pricing, even in a challenging economy. While most price surges are out of our control, we've tried our best to adjust the suppliers we use and the inventory we're purchasing to keep our costs as low as possible. We truly appreciate your continued support and look forward to helping with all your jewelry needs as we wrap up 2025.
What’s Happening?
Precious metals have always been a “safe haven” investment during times of inflation and volatility. As investors buy more gold, prices for manufacturers and jewelers rise too. In 2025 alone, gold prices are up more than 30% per ounce, while silver has nearly doubled. Over the last five years, gold has climbed from around $1,800 per ounce in 2020 to over $4000 as of October 8th, 2025.
Gemstones have been affected as well. Many fine-quality stones—such as rubies, sapphires, emeralds, and tanzanite—come from overseas and face tariffs ranging from 11% to 54%. Combined with soaring metal costs, it’s easy to see why jewelry purchased even a year ago might now cost almost twice as much.
Where Are We Headed?
Unfortunately, prices are likely to keep climbing. Analysts predict gold will surge well above $4,000 per ounce soon. Tariffs remain in place, and overall economic uncertainty continues to ripple through nearly every industry. Each time we reorder merchandise or materials for repairs, the cost tends to rise.
Tips for Consumers
Have a repair?
- Expect prices to be higher than you remember. From watch batteries to solder, material costs are up across the board. Always ask for a free estimate before we begin a repair.
- Consider making a deposit to help split up the total cost.
- Don’t delay maintenance—spending $25 to $50 to repair a weak chain or loose prong now can save you hundreds or even thousands later.
- Start your holiday shopping early. Our current inventory is priced at the cost when we received it, meaning many items are effectively “on sale” until we reorder.
- Use our layaway program to lock in today’s prices with just 20% down. You can make payments as often as you’d like through Christmas.
- Consider lab-grown diamonds or gemstones to avoid high tariffs while still getting stunning quality.
- Have us custom design your piece in-house. Our custom work is American-made and avoids many of the tariff-related costs. Order early to beat the holiday rush.
Final Thoughts
At Frank’s Jewelry, we’re committed to offering high-quality pieces and fair pricing, even in a challenging economy. While most price surges are out of our control, we've tried our best to adjust the suppliers we use and the inventory we're purchasing to keep our costs as low as possible. We truly appreciate your continued support and look forward to helping with all your jewelry needs as we wrap up 2025.