【South Korea】Jewelry Companies Raise Prices and Seek Alternative Materials Amid Gold and Silver Price Fluctuations

Jewelry Companies Raise Prices and Seek Alternative Materials Amid Gold and Silver Price Fluctuations
Reporter: Jeong Seul-gi ([email protected])
2026-03-30 15:09
This year, gold jewelry prices have been raised multiple times. Brands like Golden Dew and J. Estina have increased prices this month, driven by rising gold prices and a high exchange rate burden. Companies are also turning to alternative materials such as lab-grown diamonds.

Due to recent sharp fluctuations in gold and silver prices, domestic jewelry companies are either raising prices or seeking alternative materials. Gold prices have been on a multi-year upward trend, while silver prices have recently shown extreme volatility, making it increasingly difficult for companies to respond. Additionally, the ongoing high exchange rate has added to the burden.
According to industry sources on the 30th, major jewelry companies have implemented consecutive price increases from the beginning of the year through this month. Fine jewelry brands like Golden Dew and Didier Dubot, as well as fashion jewelry brands like Lloyd and J. Estina, have all raised prices.
Golden Dew, a jewelry brand focused on gold products, raised gold product prices by an average of 10% on March 16, following a previous increase in November last year. Products with higher gold content saw increases of over 20%. A Golden Dew official explained:

J. Estina raised prices on some items last year and increased gold and silver product prices by 10-20% in mid-March this year. Silver jewelry saw a 10-15% increase, while gold jewelry rose by around 20%. A J. Estina official stated:

Lloyd, operated by E-Land, raised gold jewelry prices by an average of 17% at the end of January, following a previous increase last year. An E-Land official explained:

E-Land has increased the proportion of silver and 24K jewelry to address consumption polarization. However, due to increased volatility in silver prices, silver product prices were raised by about 30% around January 20.
Fine jewelry brand Didier Dubot also raised prices on some products by about 15% at the end of January. After a price increase last year, rising gold and subsidiary material costs necessitated another hike this year.
These companies have stated that it is still undecided whether additional price increases for gold and silver products will occur this year.

Recently, companies have been strengthening their use of alternative jewelry materials to replace volatile gold and silver. A prime example is lab-grown diamonds. Although produced artificially, lab-grown diamonds have the same optical and chemical properties as natural diamonds and are more environmentally friendly. They are also cheaper than natural diamonds.
Since last year, Didier Dubot has strengthened its product line using platinum and colored lab-grown diamonds. This strategy aims to maintain a sense of luxury while replacing gold. A Didier Dubot official said:

Golden Dew is also showing great interest in developing platinum products. A Golden Dew official commented:

Lloyd has also expanded into lab-grown diamonds. A Lloyd representative explained:

Given the high volatility of gold and silver prices, the company aims to respond more flexibly by preparing a variety of materials and grades.
J. Estina is also expanding its lab-grown diamond product line and plans to review various materials and product categories in the medium to long term.
The problem is that gold and silver price volatility is unlikely to ease easily in the future. Factors such as the US-Iran conflict, global economic uncertainty, increased gold holdings by central banks, rising industrial demand, and, in Korea’s case, exchange rate effects are all contributing to the complexity.
[Photo: Didier Dubot’s lab-grown diamond and gold products]