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
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
