04/15/2026
Good Morning!
We wanted to share a transparent update regarding our pricing with precious metals. As with any business who is affected by the costs of their industry demand, we are at the point where we need to share the drastic change within our industry.
As many have seen, the gold and silver markets have exploded. Never before have these numbers been seen and we are just one of many industries affected by the drastic increases in precious metals.
Sterling silver has always been an affordable go-to option for jewelry. This market was around $30 per troy ounce this time last year, peaked as high as $116 dollars this past January and has now been resting around $80 per ounce. This has tripled our costs for "affordable" sterling silver jewelry and although most of our goods are American made, we are also now subject to tariffs on any imported goods.
Gold......where do we even begin? When we took over Wright Jewelers, the gold market was around $1,600 per troy ounce.
It has steadily climbed, however last summer it started climbing much faster, with a peak this past January of $5,500 per ounce of 24 karat gold!
Although now is a great time to trade-in/sell gold, the costs across the board are up 3x-4x in the past few years. for even the simple, everyday jewelry. Please know that we are going to always deliver a quality product, at a fair price, but we have to share the reason why things are up, from repair work to our custom manufacturing.
Thank you to our loyal clients for always supporting us. You all mean the world to us!
Respectfully,
Justin & Jenna
