In recent months, the price of gold has seen a significant increase, causing concern among manufacturers and retailers in Spain's jewelry sector. The surge started in 2025, with annual price increases reaching 70% amidst geopolitical uncertainties that pushed investors toward safer assets like gold. As 2026 began, this trend continued, with gold prices hitting historic highs at $5,417 per ounce on January 28, although they have since stabilized slightly, currently sitting around $5,082.

This price surge presents both challenges and adjustments for jewelers. Many are now considering offering jewelry with lower carat weights to maintain sales and manageable margins. According to experts like Jordi Martret, the increase in gold prices has necessitated a shift in how jewelers present their products, aiming to strike a balance between quality and affordability for consumers seeking gold jewelry. As the industry adjusts, the impact of these pricing changes will likely influence consumer purchasing decisions in the near future.

In light of these developments, Spanish jewelers must navigate the challenging landscape of rising costs while maintaining customer interest. The current trend suggests a potential shift in consumer preferences, with buyers maybe gravitating towards more affordable jewelry options. This evolution in the market will not only affect the jewelry industry in Spain but may also serve as a reflection of broader economic patterns affected by gold's status as a hedge against inflation and market instability.