Silver and gold coins, including a PAMP bar, lie on a blue surface. The intricate designs depict Britannia and a profile of a woman, suggesting elegance.

Silver and Gold price fluctuations

If your business relies on gold or silver - whether you’re a jeweller, a manufacturer or any kind of business owner operating within the industry, you’re likely to be aware of the recent volatility in market prices. For many businesses, the unpredictability of these major price swings are causing a notable amount of concern regarding how to manage the uncertainty of forecasting and production costs.


So how do you run a business when your material gets some intense mood swings? Let’s delve into it.

Close-up of shiny gold bars and coins with intricate engravings, including a harp and antelope. The image conveys wealth and opulence.

What’s happening?

Before addressing what businesses can do to adapt to this turbulent phase of the market, let’s take a look into why gold and silver suddenly won’t sit still and what this means for businesses.


The past few days have seen a huge increase in the price of gold and silver. This is because certain global events have a huge effect on stock markets. Heightened global uncertainty or volatile stock markets often urge investors to shift funds into safer assets like gold. This sudden increase in demand can drive prices up swiftly.


The market crash however, is a result of a large number of investors trying to sell their assets. This is in order to secure a large profit from surging prices.

Close-up of shiny gold bars and coins with intricate engravings, including a harp and antelope. The image conveys wealth and opulence.
A bearded man sits at a wooden table, intently focused on his laptop. He wears a brown shirt and beige blazer in a cozy, plant-filled room.

What this means for businesses

For businesses operating in this industry, the market presents many threats and opportunities, largely influenced by how successfully businesses plan and adapt. Granted, sudden surges in the market can make it extremely difficult for businesses to navigate planning future costs and pricing.


However, when the market prices drop, it can create valuable purchasing opportunities, allowing businesses to secure supply at a lower cost.


Businesses staying up to date with the market by closely monitoring movements and being proactive will benefit more as they won’t get caught out by unexpected events, allowing them to maintain a competitive edge.

Smiling woman in a blue blazer and yellow top sits at a desk with colleagues, typing on keyboards in a positive, collaborative office setting.

What businesses can do to adapt to a fluctuating market

Businesses can protect themselves with a variety of different strategies. One option for small businesses to stay afloat during market fluctuations is redesigning products. Whether it be substituting other materials where possible or re-engineering specific products. If you have the opportunity to give this a go, it’s a great way of saving money on your business.


Pandora is a well-known jewellery company who have recently made the decision to remove silver from products within specific ranges, and replaced it with platinum plating. The company have marketed this change effectively by emphasising a sense of luxury to customers. Despite products not being full platinum, they still convey a sense of extravagance, appealing to customers searching for jewellery with a high-end appearance.


Additionally, to protect themselves from supply shocks, businesses should prioritise buying from multiple suppliers in order to maintain flexibility and reduce the risk of dependency on one supplier.


Entering into long-term contracts with suppliers is another great way to protect a business, as this means locking in prices and reducing any future uncertainty.


And lastly, monitoring global trends will help businesses to avoid the silver scaries by identifying emerging risks and enabling action before any disruptions occur.

Smiling woman in a blue blazer and yellow top sits at a desk with colleagues, typing on keyboards in a positive, collaborative office setting.
A woman with a thoughtful expression showcases silver rings and earrings on a wooden table. Velvet boxes, a branded wood plank, and a gold box accentuate the luxury feel.

How customers benefit despite rising costs

For many businesses, when material prices rise it’s tempting to cut back on expenses. However, this is a perfect opportunity to perfect product perception! A jewellery brand using thoughtful packaging can elevate their product and turn it into a premium unboxing experience. Luxury gift packaging reassures customers that they’re receiving the quality that they’ve paid for.

At Packaging World, we have a wide range of high-end packaging options. Including gold and silver foil boxes that give the high-quality appearance customers are looking for, as well as prioritising sustainability.


As a jewellery packaging supplier, we can recommend cost-effective options, provide bulk quotes, or guide you through bespoke gift packaging that feels authentic to your business. Get in touch.

A group of people in business attire gather around a desk, joyfully stacking hands in a teamwork gesture. Laptops and phones are visible, suggesting a collaborative office setting.

You’ve got this!

And remember, gold and silver prices rise and fall, but that doesn’t mean that your business has to. Well-prepared businesses will find that sudden changes are manageable. However, this is because of strategy, not luck. So get to it!

Further Reading:

Pandora to switch from silver to platinum over price surge- BBC

Why are gold and silver prices down again and will precious metals bounce back or continue to fall?- The Economic Times

A group of people in business attire gather around a desk, joyfully stacking hands in a teamwork gesture. Laptops and phones are visible, suggesting a collaborative office setting.

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