Charlotte jewelers are bracing for higher gold prices
Customers are shifting to silver and gemstones
The following article appeared in the Oct. 17, 2025, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.
Gold’s record surge has Charlotte jewelers adapting as prices top $4,000/oz
Gold prices have skyrocketed by more than 50% over the past year, reaching more than $4,000 an ounce for the first time in history, and local jewelry stores are preparing to feel the impact as customers shift to buying more silver and gemstone pieces.
Analysts from Goldman Sachs and UBS attribute the rally to investor fears over recession, a weakening dollar and global political uncertainty, according to a CNBC article. Meanwhile, some brands such as Pandora and Mejuri are already raising prices or turning to alternative materials to offset costs.
Here in Charlotte, Bailey’s Fine Jewelry, an N.C. jewelry store that recently took over Morrison-Smith Fine & Customer Jewelers, has been watching the market closely. Owner Trey Bailey told The Ledger that the local jewelry industry has already adjusted to the dramatic changes.