Gold price per ounce. (Data: GoldPrice.org)
Gold in 2024 has had its best performance in more than a decade, with prices hitting 40 record highs over the course of the year, affecting the jewelry industry. Rolex is preparing to increase prices for the second time in a year, mostly on precious metal pieces.
The same “fear of missing out” that influenced Rolex collectors during the post-pandemic spending splurge is now affecting gold investors, sparking record demand for the precious metal which has never been so high in its history. The rush has helped drive the price of the yellow metal up 30% this year.
Less than two months after unveiling its 2024 collection at Watches and Wonders, Rolex increased on June 1st prices by 4% for white, yellow and Everose gold pieces. On January 1st, 2025, the brand is expected to raise prices by 7% in some countries. The Daytona in precious metal, with the exception of gem-set models, is expected to go up 14%.
