Why ARE GOLD & SILVER PRICES ARE RISING?
and WHY Jewellery with Longevity Matters More Than Ever
If you follow the news, you’ve probably noticed that gold prices have increased significantly in the last few years. What’s less widely shared is that the same is now true for silver prices. (You can see the numbers for yourself on Gold.co.uk if you’re interested.)
For small, independent jewellery makers like me, these changes are significant and affect every part of the process - from sourcing to creation.
I wanted to share some insight into what’s behind the rising costs of gold and silver prices, what this means for the pieces I make, and how I’m adapting to ensure my jewellery remains thoughtful, durable - and importantly worth investing in.
So Why ARE Gold and Silver Prices Rising?
In 2025, gold and silver didn’t just climb — they reached some of the highest price levels seen in decades. There isn’t one single cause, but a combination of economic and market forces that have all contributed.
A safe investment in CHANGING TIMES
Let’s be honest - geopolitically things have been more than a bit ropey. When the world feels unstable, investors turn to hard assets like gold and silver for protection, pushing demand higher.
On top of this, lower interest rates make precious metals more appealing than bonds or savings, increasing buying pressure further.
Industrial Demand: More Than Just Jewellery
Silver has lots of uses beyond jewellery — including in many everyday technologies such as:
solar panels
electric vehicles
electronics (in everything from mobile phones to household appliances)
medical applications
military & defence applications
In 2025, demand from these industries was strong and there simply wasn’t enough new supply to keep up. This extra competition helped push silver prices higher.
Supply Constraints: Not Enough to Go Around
Both gold and silver are limited resources. Mining new metal is costly and time-consuming, and for silver, a lot of it comes as a byproduct of mining other metals. When demand is rising but supply can’t keep up, prices naturally rise.
IMPACT ON Handmade Jewellery
All of these factors together mean that the raw materials I rely on are more expensive than ever. Even small changes in price can make a big difference when you’re making jewellery by hand, where every gram of gold or silver counts.
Investing in Jewellery That Stands the Test of Time
As a maker, it’s hard to ignore the fact that rising material costs feel very stressful. It forces me to think carefully about how to keep my business viable, while continuing to create jewellery that doesn’t simply bend to the latest trends, but stays true to my style.
Since I started Black Octopus Jewellery, I’ve wanted to introduce a solid gold collection, but the higher costs naturally meant it had to take a back seat. While I considered holding off while prices are so high, I’ve realised that for those that can afford it, now is actually the perfect time. Solid gold jewellery is a true investment that offers enduring value, now more than ever.
9ct Solid Gold Classic T-Bar Pendant
Why Jewellery with Longevity Matters
All precious metal jewellery (if treated well) will last a lifetime. Compared to Sterling Silver or Gold Vermeil (read more what that is here), solid gold will tarnish less and never need re-plating, making it the ultimate sustainable jewellery choice which can be treasured and passed down for generations.
But longevity isn’t just about durability - It’s about creating pieces you can live in, treasure over time & still want to wear in years to come. In today’s world of rising material costs & fast fashion, choosing jewellery made to last feels more important than ever.
That said, I’m very aware we don’t all have the spare cash to invest right now, and I have no intention of losing sight of my drive to create affordable jewellery. Silver and Gold Vermeil pieces remain a more accessible way to enjoy beautiful, giftable, high-quality jewellery every day, and won’t be going anywhere.
Smarter Silver: Quality Without Compromise
Silver will always be my primary material for making jewellery. But with the steep rise in costs, makers are having to carefully consider how to keep pieces both profitable and affordable - and for me, without compromising on my bold, distinctive style.
Statement Sterling Silver Curb Chain Necklace
Re-using and recycling Silver is already something I do as much as possible - all offcuts are saved, melted down and remade in my Zero-Waste Collection. I’m also exploring making slightly lighter pieces where it works, keeping things under the hallmark threshold (read more about that here) and maintaining impact while reducing material use. I’m also considering making to order more often, which avoids tying up cashflow and silver in unsold stock, while allowing me to respond directly to customer demand.
For Gold Vermeil, I’m introducing a re-plating service - so even if a piece shows signs of wear over time, it can be refreshed and enjoyed for many more years. Keep an eye out for that coming soon!
These approaches should mean both silver and Gold Vermeil jewellery can remain accessible and long-lasting, and hopefully keep me in business too!
IN Summary: STAYING POSITIVE THROUGH TRICKY TIMES
Rising gold and silver prices are affecting everyone, from makers to wearers. But they also highlight the value of thoughtful, well-made jewellery:
Solid gold offers long-term investment potential and heirloom quality.
Silver and Gold Vermeil remain versatile, stylish, and accessible and can be just as long-lasting with the right care.
Longevity remains the ultimate focus: jewellery you can wear, layer and treasure for years to come.
Ultimately, investing in quality, durable jewellery — whether solid gold or carefully crafted silver and Gold Vermeil — is always worth it.
Are you someone who takes interest in the processes and how things are made? If so, check out my blog post on the casting process - another key process in keeping jewellery affordable.