Gold Prices Soar, Coloured Gemstones Become the Investment Choice for 2026 - Market Business

In the midst of global market turbulence and a surge in gold prices, ultra-wealthy consumers are increasingly eyeing luxury jewellery as an alternative investment. Beyond gold, coloured gemstones such as rubies, sapphires, and emeralds are becoming the new favourites, valued for their long-term worth. This phenomenon is evident in the auction market. A Tiffany & Co. necklace featuring rare Paraiba tourmaline and diamonds sold for more than US$4.2 million at Christie’s, or about ten times the initial estimate. A matching pair of earrings even recorded a similar price surge. These achievements reinforce the signal that luxury jewellery is no longer just an accessory but is beginning to be positioned as a calculated investment asset among global collectors. Driven by Inflation and Global Uncertainty The interest in jewellery as an investment is inseparable from rising geopolitical uncertainty and economic volatility. In such conditions, investors tend to shift to tangible assets deemed more stable, including precious metals and rare gemstones. Jewellery from renowned brands like Cartier, Van Cleef & Arpels, Tiffany & Co., and Bulgari is even known to have strong resale values in the secondary market. These four brands are said to dominate around 90% of branded jewellery resale transactions. Unlike handbags or fashion accessories influenced by seasonal trends, iconic jewellery tends to have a long lifecycle and experiences annual price increases over the long term. In many cases, collectors who hold jewellery for five to ten years can resell it above the purchase price. Gold Prices as a Catalyst The surge in gold prices is also strengthening this trend. The price of the precious metal once broke through its all-time high above US$5,100 per ounce before correcting, but it still holds at elevated levels. This condition enhances the appeal of gold-based jewellery as an asset with a relatively preserved base value. On the other hand, the price increase is also prompting some long-time collectors to offload their collections, while opening opportunities for new buyers seeking a hedge against inflation. Coloured Gemstones in the Spotlight Within the jewellery segment, coloured gemstones are emerging as the category with the fastest growth. Demand for rubies, sapphires, and emeralds is rising in tandem with a combination of scarcity and aesthetic appeal. Unlike diamonds, which can now be produced in laboratories, high-quality coloured gemstones are relatively difficult to replicate. The unique character of each stone, including natural inclusions within them, actually becomes an added value that increases the price. At major auction houses like Christie’s, coloured gemstones often sell for two to three times the highest estimate. This is a phenomenon that is relatively rare. This trend is also driven by the influence of popular culture. Several celebrities such as Kate Middleton, Eva Longoria, Halle Berry, Rita Ora, and Halsey have helped popularise engagement rings with coloured gemstones. Currently, around 15% of engagement rings use coloured gemstones, a significant increase compared to just 5% a decade ago.