The ever increasing price of gold, silver, platinum, rhodium and palladium
1st February 2026 - Customer Location: Cairns
Gold price chart courtesy of ABC Bullion.
For quite a few years we have seen a large increase in the price of precious metals. In the last 6 months we have seen prices skyrocket. Sadly this is putting fine jewellery out of the budget of many.
Engagement and wedding ring in one.
To combat this some couples are choosing to use less precious materials but adding priceless touches that no-one can sell them, their own design and thought.
The engagement ring above was designed by the couple over several weeks with me at the end of 2025. It was based on a design they had seen elsewhere but by the time they had finished refining it, they had their own. It was made from 9ct rose gold using Blue Topaz and will be both her engagement and wedding ring.
9ct rose gold and Blue Topaz.
9ct rose gold was an easy choice as she preferred the colour of that precious metal and blue gemstones were also a favourite.
Knowing that Topaz does not fair as well as hardier gems like diamond and sapphire, we ensured we chose a setting style that readily allowed for the gems to be replaced if they became damaged.
What will change for me in 2026?
I expect this year to be a bit quieter for me and for the number of people desiring to recycle old jewellery to increase greatly. Time will tell but it certainly was how 2025 ended. Above are three pieces made for the same customer in Tasmania using old heirloom jewellery she had.
I have to pay the current price for precious metals as I custom make pieces from new materials. I order them as needed to suit the desired design.
If you can find stock items in shops/jewellery chains that you like and are of good quality that are a year or so old (and have not been repriced) you will save yourself a lot of money especially with pieces that use a large amount of gold. Jewellery shops will have to make huge increases in prices this year once they replace sold stock.