Why Sterling Silver Jewellery Is Getting More Expensive (And What It Means for You)

In recent years, something unusual has been happening with sterling silver prices and it’s not just in the markets: it’s affecting everyday jewellery too.

Sterling silver, the metal at the heart of so many of our treasured pieces, has seen a significant rise in its global price, driven by factors far beyond fashion.

Below we explain what’s going on, why it’s out of our control as makers and what positive implications this has for customers who already own or are considering a piece of our timeless sterling silver jewellery.

How much has the price of silver increased?

Globally traded metals markets set the price of silver and in 2025 this price moved sharply higher. According to the London Bullion Market Association (LBMA), the sterling silver prices climbed from roughly $29.41 per troy ounce on 1 January 2025 to as high as $74.84 per ounce by the end of the year an increase of approximately 144.82% over the course of the year.

And that trend hasn’t stopped. In early 2026, sterling silver prices continue to trade above $100 per ounce, a level not seen before in many years.

In simple terms: the ingredient in your sterling silver jewellery has become significantly more expensive.

What is causing the rise in sterling silver prices?

There isn’t a single reason, there’s a confluence of global forces:

1. Industrial Demand Is Soaring
Sterling Silver isn’t just a precious metal for jewellery. It is also a crucial industrial metal used in:

• Solar panels and renewable energy technologies

• Electric vehicles and advanced electronics

• Artificial intelligence data centres and semiconductors

These industrial uses have grown strongly and silver is now deeply embedded in future-facing sectors.

Because demand from industry competes with jewellery demand, it pushes the sterling silver price upward.

2. Supply Constraints and Structural Deficits
Silver supply has not kept pace. Production increases are modest year-on-year and recycling, while helpful, can’t make up the shortfall. This structural deficit means that demand has outstripped supply, fuelling upward price pressure. 

3. Investment Flows and Market Dynamics
Silver is also seen by some investors as a store of value, especially in uncertain economic times. There’s been notable interest in silver across global markets, which also adds to its price momentum.

Because sterling silver is more thinly traded than gold, its price can be more volatile, sometimes moving faster than gold itself. 

Why This Matters for Jewellery Makers

As a small jeweller, we buy silver on the global market just like anyone else. When the underlying metal becomes more expensive, the cost of the raw materials we use, sterling silver sheet, wire, chains, findings - also rises.

This isn’t about branding or profitability. It’s simply the way precious metals are priced internationally. There’s no mechanism for a jeweller to “lock in” old prices indefinitely, especially during periods of rapid market change.

What This Means for You

1. Pieces you already own have risen in intrinsic metal value.
As sterling silver’s market price increases, the metal contained in existing pieces becomes more valuable too. That doesn’t mean resale is encouraged but it does mean your sterling silver jewellery has sturdy material backing.

2. We continue to focus on quality.
Some brands might respond to higher metal costs by making thinner, lighter, or less durable pieces. We choose not to compromise on materials or workmanship. If prices change, it is in order to maintain standards you can trust.

3. Well made jewellery is longer-lasting and more meaningful.
Sterling Silver, when cared for well, can be polished, repaired and restored for decades. In a world of fast fashion, this reliability matters.

In Summary

Sterling silver prices are currently elevated due to a combination of:

• Industrial demand growth

• Supply constraints

• Investment and market dynamics

These forces are global and beyond the control of individual makers like us. What we can control is how we design, construct and support jewellery that is beautiful, durable, and worth owning for years, not just months.

Why has sterling silver become so expensive?
Sterling silver is priced on global markets. In recent years, demand from industry and investors has increased while supply has struggled to keep pace, pushing prices higher.

Will silver jewellery prices go back down?
Silver prices can fluctuate, but current levels reflect long-term industrial demand, not a short-term trend.

Does this mean silver jewellery is a good investment?
Silver jewellery should be bought to wear and enjoy. However, rising silver prices do increase the intrinsic metal value of well-made pieces.

If you ever have questions about how your piece is made or about caring for it so it lasts a lifetime, we’re always here to help. Thank you for your support and loyalty, as always.