Investing in gold jewelry is something people have done for generations. Growing up in a Mexican-American household, I received my first pieces of gold jewelry as an infant, which is very common in Latin American culture. These days, people shopping for gold jewelry may find it more difficult to find solid gold jewelry at reasonable price points — the price of gold has been ascending rapidly for a few years now, with an astounding near-50% jump since last year.
Karoline Bolt, jewelry designer and owner of Bye.Gones.NYC, offered some insight into the situation, explaining that the global cultural climate has a lot to do with price increases. “Wars, changing governments, uncertain times — these things cause people to ‘diversify’ their portfolio and invest in gold. They are hedging their bets against an uncertain economy, and gold has traditionally held its value in the long run.” The one upside of this, she notes, is that you can justify purchases as a beautiful, wearable investment.
Bolt recommends practicing conscious consumerism and be being prepared to spend more. “Have a budget in mind, consider the piece for a while before you buy and make sure you are confident that you will wear it and love it for a long time.” Choosing a more lightweight, dainty piece or even “hollow” items like hoops and chains that look chunky but aren’t solid can also help you save.
