Jewellers Adapt to Surging Precious Metal Prices with Creative Strategies

The surge in gold and silver prices is leading Australian jewellers to reconsider their methods. Currently, gold fluctuates between $4500 and $5000 per ounce, and silver prices saw a twofold increase in late 2025, influenced by geopolitical factors and the transition to greener practices. Blanche Tilden from Melbourne refines silver scrap and implements a make-to-order approach. In Tasmania, Sophie Carnell is preparing for a 2027 exhibition by melting down offcuts and monitoring live prices through the Kitco app. Jane Bowden of Zu Design in Adelaide emphasizes the need for precise quotes during the design phase and notes a rise in recycling interest. Gabi Harris from Gold Coast incorporates brass and copper, while educator Tracy Hopkirk instructs students to prototype with base metals, saving precious materials for final creations. Strategies include tracking market trends and educating clients.