by David Turgeon, EVP
Gold has never been shy about making a statement, and the second half of 2026 is shaping up to be another bold chapter.
Even with a recent dip, the broader trend is intact. Most major institutions see gold pushing toward $5,000 to $6,000 per ounce, with forecasts from firms like J.P. Morgan pointing as high as $6,300 by year-end.
What’s fueling it? Three forces.
First, persistent inflation continues to erode confidence in cash. Second, central banks are buying aggressively, creating a structural floor under the market. And third, geopolitical uncertainty isn’t easing anytime soon, keeping gold firmly positioned as the world’s preferred safe haven.
There will be pauses. Short-term volatility is already showing up as markets digest interest rates and global tensions. But zoom out, and the direction is clear: higher.
Now, here’s where it continues to be interesting for independent jewelers.
Rising gold prices don’t just create pressure, they create opportunity.
Consumers are still sitting on old jewelry and are suddenly holding meaningful liquidity. That keeps the door open for gold buying, trade-ins, and estate acquisition at scale. At the same time, elevated prices reinforce the perception of gold as a serious asset, not just adornment, strengthening the narrative behind higher-ticket sales.
Smart retailers will lean into gold buying marketing efforts, not pull back.
They’ll promote gold buying programs more aggressively, convert scrap into new inventory, and position gold as both emotional and financial value. In a market like this, the jeweler who controls the flow of gold controls more than margin, they control momentum.
So, quo vadis aurum?
Forward. And for the independent jeweler, forward can be very profitable!
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