Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
SourcingSep 09, 2020
Beyond Gold: Here’s What Is Happening with Metals Prices
National Jeweler looks at how platinum, silver and palladium have fared so far in 2020.
Though the platinum price plunged at the start of the COVID-19 lockdowns, it has since risen steadily. Pictured here is Platinum Born’s “Sunrise Bar” necklace.
New York—The gold price is one thing that has benefited from the coronavirus pandemic.
It passed the $2,000-per-ounce threshold in early August, though it has fluctuated a bit since then, tempered by the recent drop in unemployment claims and a rebounding U.S. dollar, according to Kitco.
Still, several experts believe the gold price will top $2,000 again this year and in the future.
Still, several experts believe the gold price will top $2,000 again this year and in the future.
But what about the other metals used for fine jewelry? How have the pandemic and associated economic struggles affected them?
Platinum
Platinum plunged to a low of about $599 per ounce in March as lockdowns began to take effect but has risen 58 percent since then, outperforming gold’s 32 percent increase in that time, according to the World Platinum Investment Council.
It added that the platinum market has improved greatly in 2020 as strong Chinese platinum imports, bar and coin demand, and its use in catalysts for diesel vehicles improved investor sentiment.
It added that the platinum market has improved greatly in 2020 as strong Chinese platinum imports, bar and coin demand, and its use in catalysts for diesel vehicles improved investor sentiment.
Additionally, with the gold price’s recent back-and-forth, investors have been paying even more attention to the more affordable white metal, Kitco noted, giving it plenty of upside.
Still, the metal is nearly half the price of gold—platinum neared the $1,000-per-ounce price in mid-August, but closed at $898 per ounce on Tuesday, according to the London Fix—and continues to buck the trend in precious metals pricing.
In terms of mining, according to investment website Seeking Alpha, both COVID-19 and the metal’s low price are making production less economical, with output down 20 percent in South Africa, which produces 80 percent of the world’s platinum annually.
Platinum jewelry sales, meanwhile, were severely hampered in the second quarter due to the pandemic, according to the latest Platinum Jewellery Business Review, which did note positive signs of recovery, including in the Chinese market.
Silver
The silver price has been increasing at a steady clip in 2020 due to rising inflation.
Gold and silver market Bullion Vault said it has nearly doubled its average monthly per-ounce price between February and August, growing nearly 32 percent alone in the month of August, its fastest since April 1987.
The London Fix had the silver price listed at $26.83 at market closing Tuesday.
Analysts expect it to continue to rise through 2020, with one expert noting it could reach $50 per ounce by year-end.
Despite outperforming even gold lately, silver is still relatively cheap when compared to gold.
The gold/silver ratio is currently around 72.5, meaning it takes nearly 73 ounces of silver to buy one ounce of gold. The ratio, historically, has rested around 59.
As for the silver jewelry outlook, there seems to be some pent-up demand for pieces made with the metal.
According to a recent survey fielded by MVI Marketing, 64 percent of consumers polled said they still plan to buy jewelry gifts they needed or wanted during quarantine, and 50 percent of those who will buy “just because” said the jewelry purchased would be silver.
Palladium
After years of increasing, palladium prices have come to a standstill during the pandemic as car sales slowed. (Most fabrication demand for the metal comes from its use for automobile catalytic converters.)
Palladium was at $2,310 per ounce Tuesday, and the price is expected to remain under pressure.
But the metal is also coming off a strong year.
Investing News reported a 54 percent increase in the palladium price in 2019. It overtook gold for the first time in 16 years, hitting a record high of near $2,000 per ounce in December.
Investing News reported a 54 percent increase in the palladium price in 2019. It overtook gold for the first time in 16 years, hitting a record high of near $2,000 per ounce in December.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
