As we enter 2025, one thing is clear— gold prices are rising. Whether you're an investor, jeweler, or consumer, the increasing value of gold impacts us all. At San Jose Jewelers, we closely monitor market trends to ensure our customers receive the best quality and value, even when precious metals fluctuate. In this blog, we'll explore how 2025 gold prices have shifted, what that means for jewelry lovers and the economy, and what might lie ahead.
How Much Have Gold Prices Increased in the Last 2 Years?
SEPT 2025 UPDATE: Since this was written in April 2025, gold prices have increased by another 20% and are now flirting with a $3,800 cost per ounce. New research is projecting a $3,900 - $4,000 per ounce price by early 2026
Over the past two years, gold has seen a significant climb in value. Since early 2023, the price of gold has surged more than 30%, driven by inflation concerns, geopolitical tensions, and increased demand for safe-haven assets. In 2023, gold averaged around $1,900 per ounce. By early 2025, it's flirting with record highs above $3,100 per ounce.
What Is the Outlook for Gold in 2025?
The outlook for 2025 gold prices continues to be bullish. Economic uncertainty, persistent inflation, and global instability will likely keep gold prices elevated throughout the year. Analysts suggest that prices could stabilize in the second half of 2025, but demand for physical gold and central bank purchases are expected to support the market.
San Jose Jewelers Price Increases
SEPT 2025 UPDATE: Our April 2025 price increase occurred because gold prices increased by $600 an ounce since the Fall 2024 price increase. As of 9/24/25, gold prices had risen by another $700 per ounce. We are working hard to maintain our current prices; however, there will be some minor price increases coming in October 2025.
We have done our best to avoid price increases for the last year. However, starting in early summer of 2025, you will see price adjustments in gold jewelry. While gold prices have increased by over 30% in the last year, our price increases will be much more modest. We will continue to work with our suppliers to keep prices as low as possible; however, with rising gold prices and tariff volatility, price increases will be unavoidable in the early part of summer 2025.
We will also continue to offer affordable options, such as Platinum Silver Rings, that combine affordability with the quality/service you have come to love from San Jose Jewelers.
Looking at gold prices over the last twelve months, you will see that as of today (4/1/2025), gold has increased by $900 an ounce. Gold prices have increased by just over $600 per ounce since our last price increase.
Is Gold a Good Investment in 2025?
Gold has long been considered a reliable hedge against inflation and a safe asset during times of economic uncertainty. In 2025, that reputation holds strong. With financial markets facing volatility, gold remains an attractive long-term investment for both individuals and institutions.
What Is the Gold Price Forecast for 2026?
SEPT 2025 UPDATE: Okay, we missed this mark—by a lot! As of 9/24/25, gold is sitting at $3,800 per ounce and is expected to approach $4,000 an ounce in early 2026.
Forecasts for 2026 predict gold prices may remain high, with some experts expecting prices to hover between $3,300 and $3,500 per ounce. If inflation persists and interest rates remain volatile, gold could see another strong year.
What Is the Price of Gold Expected to Be in 5 Years?
Looking further ahead, the 5-year gold price forecast varies depending on global economic conditions. Some projections estimate gold could reach $4,000 per ounce or higher by 2030, especially if inflation remains elevated and global demand continues to rise.
Does the Price of Gold Affect Jewelry?
Absolutely. As gold prices increase, the cost of fine jewelry typically rises as well. At San Jose Jewelers, we do everything we can to keep our pieces affordable—like offering options in Platinum Silver—but rising gold costs inevitably affect production and pricing. Higher material costs can lead to price adjustments in custom and in-stock gold pieces.
How Does the Price of Gold Affect the Economy?
Gold prices often reflect broader economic trends. Rising gold values can signal uncertainty or inflation concerns. When investors flock to gold, it's typically because they're seeking a safe place to store value. This affects not only global markets but also industries like jewelry, electronics, and even medicine, where gold is a key material. In turn, consumer spending patterns may shift, influencing everything from luxury goods to investment strategies.