While rising gold prices can influence retail costs, they have little direct impact on watch values, which are driven more by market demand, tariffs, and brand dynamics than by the metal’s raw price.
Does the Price of Gold Affect the Value of Gold Watches?
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It’s a common and understandable assumption that when gold prices rise, the value of gold watches should follow suit. Over the past year, gold has climbed roughly 53%, and the secondary watch market has experienced a noticeable rebound as well.
That said, the two trends aren’t necessarily connected. A rise in gold prices doesn’t guarantee higher watch values, and a decline in gold doesn’t mean prices will fall. During the height of the COVID-era watch boom, gold prices stayed relatively flat even as precious metal watches soared in value. Conversely, when gold began climbing again in late 2022 to early 2023, market prices for those same watches declined significantly.
For retail pricing, the recent round of increases is likely influenced by both tariffs and the rising cost of gold as a raw material. However, tariffs seem to be the larger factor, since most increases have specifically targeted the U.S. market. Ultimately, the amount of gold in a watch is small relative to its overall value, meaning that while gold prices play a part, they’re far from the main driver of precious metal watch retail pricing.
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