Gold Prices in the UK: What They Mean for Jewellery Buyers & Sellers

Gold prices in the UK continue to attract attention from investors, collectors and jewellery buyers alike. Whether you’re tracking the gold price per gram, considering an investment, or looking to sell old jewellery, understanding how UK gold prices work — and how jewellers price gold — is essential.

Gold prices in the UK are typically quoted in GBP per troy ounce or GBP per gram, with values fluctuating daily based on global market conditions.

As a long-established Hatton Garden jeweller, Daniel Christopher Jewellery works directly with gold markets daily, giving real-world insight into how UK gold prices affect both jewellery buyers and sellers.

How Gold Prices Are Set in the UK

The UK gold price is influenced by several key factors:

• Global gold spot price (set on international markets)

• GBP/USD exchange rate

• Inflation and interest rate expectations

• Supply and demand from investors, jewellers and central banks

• Geopolitical and economic uncertainty

Because gold is traded globally in US dollars, even a small change in sterling can have a noticeable impact on UK gold prices.

Gold Price per Gram vs Jewellery Prices – What’s the Difference?

One of the most common misconceptions is that jewellery prices move exactly in line with gold prices. In reality, jewellery pricing includes:

• Raw gold cost

• Alloying (18ct, 14ct, etc.)

• Skilled labour and craftsmanship

• Design, finishing and setting

• VAT (where applicable)

This means two jewellers can charge very different prices — even when using the same gold weight and purity.

Keeping Gold Costs Fair: Daniel Christopher Jewellery

At Daniel Christopher Jewellery, we believe transparency and fairness around gold pricing is essential.

As a long-established Hatton Garden jeweller, we work hard to:

• Source gold at highly competitive market rates

• Minimise unnecessary mark-ups

• Absorb short-term price volatility where possible

This allows us to keep the cost of gold as low as possible for our customers, particularly on bespoke and handmade jewellery.

Unlike many retailers, we manufacture in-house, which means fewer middlemen and more control over costs — savings we pass directly to our clients.

Selling Gold Jewellery: Why Price Matters

When buying gold jewellery from customers, we consistently aim to offer higher-than-average prices compared to most jewellers.

Because we:

• Understand real gold market values

• Refine and recycle gold responsibly

• Reuse gold within our own workshop

…we’re able to offer strong, fair buying prices rather than “scrap-style” rates often seen elsewhere.

This makes a significant difference when selling:

• Old or broken jewellery

• Inherited gold

• Unworn pieces

• Single earrings or mismatched items

Is Gold Still a Good Store of Value in the UK?

Historically, gold has performed well during periods of:

• Inflation

• Currency weakness

• Economic uncertainty

For UK buyers, gold continues to be viewed as:

• A hedge against inflation

• A long-term store of value

• A tangible, physical asset

 

With in-house manufacturing and decades of experience working with precious metals, Daniel Christopher Jewellery combines transparent pricing with craftsmanship — ensuring customers benefit whether buying, selling or commissioning bespoke gold jewellery.

No hard sell. Pure trust.

Frequently Asked Questions About Gold Prices in the UK

Q: What is the gold price per gram in the UK today?
A: The UK gold price per gram changes throughout the day and is based on the global gold spot price, converted into pounds sterling and adjusted for purity.

Q: Why do gold prices change daily in the UK?
A: Gold prices fluctuate due to global market trading, currency exchange rates, inflation expectations, interest rates and geopolitical events.

Q: Is the gold price the same for jewellery and bullion?
A: No. Jewellery prices include craftsmanship, design, alloying and VAT, whereas bullion prices are closer to the raw gold spot price.

Q: Do jewellers pay fair prices when buying gold?
A: This varies widely. Specialist jewellers who understand gold markets and refine responsibly often pay higher prices than high-street or pawn-style buyers.

Q: How does Daniel Christopher Jewellery price gold fairly?
A: Daniel Christopher Jewellery sources gold competitively, manufactures in-house, minimises mark-ups and offers strong buying prices when purchasing gold from customers.