SurveysJun 22, 2021
Diamond Jewelry Sales Strong, Says NDCMajorsAug 16, 2021
After a Turbulent Year, Here’s Where the Gold Price Is Now
National Jeweler examines the average price of the metal in H1 and the U.S. market’s “considerable growth” in gold jewelry demand.
Hi June Parker’s engravable ID bracelet with diamonds in 14-karat yellow gold ($750 for a 6-inch or 6.5-inch bracelet)
London—The past year-and-a-half has been, unsurprisingly, something of a roller-coaster ride for the price of gold.
The precious metal started 2020 averaging $1,560.67 an ounce, according to Kitco, then rose until mid-March, when it fell to a low of $1,474.25 as governments worldwide began enacting stay-at-home orders because of COVID-19.
From there, the price of gold started climbing, rising every month until it passed the $2,000-per-ounce mark in August—its highest point in eight years.
It didn’t stay there long, dropping back down and finishing the year with a cumulative average of $1,769.64 an ounce.
This year hasn’t quite seen the peaks and dips experienced in 2020, but notable swings in 2021 include a high of $1,902.75 in June and a low of $1,683.95 in March, Kitco charts show.
According to Kitco, the gold price has averaged $1,803.57 per ounce so far this year.
The World Gold Council said the price of gold averaged $1,816.50 per ounce in the second quarter, only slightly higher than the first quarter and up 6 percent year-over-year.
Meanwhile, gold jewelry demand is working its way back up in some markets after being dealt a huge blow last year during the COVID-19 pandemic, WGC’s latest “Gold Demand Trends” report shows.
Global gold jewelry demand in Q2 was 60 percent higher year-over-year at 390.7 tons, but that’s compared with Q2 2020, when demand was “slashed” by the pandemic.
WGC noted the strong second quarter in 2021 was bolstered by global economic recovery and improving consumer sentiment.
While gold jewelry demand is improving, it still has a way to go before it reaches pre-pandemic levels, WGC added.
When compared with 2019, demand remains “significantly weaker”—second quarter demand is 26 percent lower than Q2 2019, and H1 demand is down 18 percent.
H1 demand of 873.7 tons was 17 percent lower than its 2015-2019 average in the six-month period, WGC reported.
On a positive note, the United States was one of the markets generating “considerable growth” in gold jewelry demand so far in 2021, proving to be more resilient this year.
Related stories will be right here …
The precious metal started 2020 averaging $1,560.67 an ounce, according to Kitco, then rose until mid-March, when it fell to a low of $1,474.25 as governments worldwide began enacting stay-at-home orders because of COVID-19.
From there, the price of gold started climbing, rising every month until it passed the $2,000-per-ounce mark in August—its highest point in eight years.
It didn’t stay there long, dropping back down and finishing the year with a cumulative average of $1,769.64 an ounce.
This year hasn’t quite seen the peaks and dips experienced in 2020, but notable swings in 2021 include a high of $1,902.75 in June and a low of $1,683.95 in March, Kitco charts show.
According to Kitco, the gold price has averaged $1,803.57 per ounce so far this year.
The World Gold Council said the price of gold averaged $1,816.50 per ounce in the second quarter, only slightly higher than the first quarter and up 6 percent year-over-year.
Meanwhile, gold jewelry demand is working its way back up in some markets after being dealt a huge blow last year during the COVID-19 pandemic, WGC’s latest “Gold Demand Trends” report shows.
Global gold jewelry demand in Q2 was 60 percent higher year-over-year at 390.7 tons, but that’s compared with Q2 2020, when demand was “slashed” by the pandemic.
WGC noted the strong second quarter in 2021 was bolstered by global economic recovery and improving consumer sentiment.
While gold jewelry demand is improving, it still has a way to go before it reaches pre-pandemic levels, WGC added.
When compared with 2019, demand remains “significantly weaker”—second quarter demand is 26 percent lower than Q2 2019, and H1 demand is down 18 percent.
H1 demand of 873.7 tons was 17 percent lower than its 2015-2019 average in the six-month period, WGC reported.
On a positive note, the United States was one of the markets generating “considerable growth” in gold jewelry demand so far in 2021, proving to be more resilient this year.
The market’s gold jewelry demand in Q2 was $22.8 billion, taking H1 total spending to $50.7 billion, which is 18 percent higher than the 2015-2019 H1 average and the highest H1 total since 2014.
(WGC noted that continued travel restrictions and varying degrees of market lockdowns across the globe continue to disrupt data collection, so some markets “may be more susceptible than usual to future revisions once normal fieldwork can resume.”)
The WGC attributed Q2 demand for gold jewelry in the U.S. to the same factors that supported the market in Q1—improved consumer sentiment due to the vaccination program, federal income support measures, and economic growth.
U.S. consumers also remain somewhat limited in their ability to travel, thereby diverting disposable incomes to other areas, including gold jewelry.
China also has experienced strong demand for gold jewelry so far this year, with gold jewelry demand in the first half of the year the highest it’s been since 2015.
H1 jewelry demand was 338 tons, a 122 percent increase year-over-year and 6 percent increase over H1 2019, amid a strengthening Chinese economy and increasing disposable incomes.
Meanwhile, struggles in the Indian market—a huge player when it comes to gold jewelry—greatly impacted the overall numbers.
India was one of the hardest hit markets in 2020 and experienced a devastating second wave of COVID-19 in Q2 2021.
After starting the second quarter on a strong note, demand weakened toward the end of April before coming to a near-standstill in May, WGC said, as the second wave swept across India and resulted in regional lockdowns and fears of economic shutdown.
H1 gold jewelry demand in India totaled 157.6 tons, which is 46 percent below H1 2019 and 39 percent lower than the H1 average from 2015-2019.
WGC said it is optimistic about the rest of the year for the Chinese market but noted the outlook for the remainder of 2021 in India was “mixed,” especially with the possible threat of a third wave of COVID-19 and more lockdowns.
For the overall gold jewelry market, WGC said demand could be in the range of 1,600-1,800 tons for the year, which would be well above 2020 levels but below the five-year average.
It added that while another variant-driven COVID-19 wave would create challenges for the sector, it still believes that “a repeat of last year’s low jewelry demand levels [is] highly unlikely.”
Editors' Picks
Sponsored by
More on Majors
The Latest
EditorsJan 16, 2026
Remembering Pete Yantzer for His Contributions and His Kindness Pete’s boundless curiosity extended beyond diamond cut and he was always eager to share his knowledge with others, no matter the topic.
FinancialsJan 16, 2026
Richemont’s Jewelry Brands Shine in Q3Cartier, Van Cleef & Arpels, Buccellati, and Vhernier had another successful holiday season, Richemont reported this week.
TrendsJan 16, 2026
Diane Lane's Brooch Buzzes at the 2026 Golden GlobesOur Piece of the Week is Lagos’ “Bee” brooch that was seen on the red carpet for the first time on Sunday.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
CrimeJan 15, 2026
D.C. Rapper ‘Taliban Glizzy’ Sentenced to 18+ Years for Jewelry Store RobberiesTrevor Jonathan Wright led a crew in a string of armed robberies targeting South Asian-owned jewelry stores on the East Coast.
Weekly QuizJan 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJan 15, 2026
Jewelers of Americas’ ‘20 Under 40’ Nominations Now OpenThe program recognizes rising professionals in the jewelry industry.
Events & AwardsJan 15, 2026
Registration for JCK Las Vegas 2026 Is Now OpenA new lifestyle section and a watch showcase have been added to this year’s event.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
TrendsJan 15, 2026
Don’t Double-Dip With This Golden ChipAvocados From Mexico is celebrating those who love to double-dip in game day guacamole with a 14-karat yellow gold tortilla chip necklace.
SourcingJan 15, 2026
Nearly 42-Carat Blue Diamond Discovered in South AfricaPetra Diamonds unearthed the 41.82-carat, Type IIb blue diamond at the Cullinan Mine.
CollectionsJan 14, 2026
Marie Lichtenberg Lassos Leather for New BraceletsThe brand is trading its colorful fabric cords for Italian leather in its “Lasso” baby locket bracelets.
TechnologyJan 14, 2026
“My Next Question” Enters Its Podcast Era National Jeweler and Jewelers of America’s popular webinar series is evolving in 2026.
CollectionsJan 14, 2026
Boucheron Names Colman Domingo as Brand AmbassadorThe award-winning actor’s visionary approach and creativity echo the spirit of Boucheron, the brand said.
IndependentsJan 14, 2026
Kansas Jeweler Wins 2025 ‘Wag’ AwardEdge Retail Academy honored Burnell’s Fine Jewelry in Wichita, Kansas, with its annual award for business excellence.
ColumnistsJan 13, 2026
2025 Was a ‘Price Up, Units Down’ Year, Here’s What That Signals for 2026 In a market defined by more selective consumers, Sherry Smith shares why execution will be independent jewelers’ key to growth this year.
IndependentsJan 13, 2026
Orr’s Jewelers Opens New Location in Pittsburgh’s Strip DistrictThe family-owned jeweler’s new space is in a former wholesale produce market.
CrimeJan 13, 2026
Alleged Getaway Driver Charged in Florida Jewelry Store RobberyIvel Sanchez Rivera, 52, has been arrested and charged in connection with the armed robbery of Tio Jewelers in Cape Coral, Florida.
SourcingJan 13, 2026
Rio Grande To Offer Calibrated Diamond MeleeThe supplier’s online program allows customers to search and buy calibrated natural and lab-grown diamond melee, including in fancy shapes.
Events & AwardsJan 13, 2026
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
EditorsJan 12, 2026
Platinum, White Gold Rule the 2026 Golden GlobesAssociate Editor Natalie Francisco highlights her favorite jewelry moments from the Golden Globes, and they are (mostly) white hot.
GradingJan 12, 2026
Peter Yantzer, Former Executive Director of AGS Labs, Dies at 77 Yantzer is remembered for the profound influence he had on diamond cut grading as well as his contagious smile and quick wit.
MajorsJan 12, 2026
Jewelers Mutual Acquires AI-Powered Event Insurance ProgramThrough EventGuard, the company will offer event liability and cancellation insurance, including wedding coverage.
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
