Here’s some back story as to why we have been selling some of my most popular designs at a loss, such as the best-selling gold acorn memory capsule, and statement sterling silver twig cuff. 

I’ve pulled together some industry insights and my experiences as a maker, to share with you how Cast & Found can continue to craft the handmade jewellery that you love, whilst allowing me and my small team to earn a living from this craft. 

If you've been paying attention to the news around precious metals in recent years, you may have noticed something significant: gold and silver prices have reached record highs. As owner and the craftsperson behind Cast & Found, I want to take a moment to explain what's driving these changes and how they affect the handcrafted jewellery you love.

A Decade of Change

Let's look at the numbers. In 2015, when I first cast a wedding ring from nature, gold in the UK was trading at around £800 per ounce. Fast forward to today, and that same ounce of gold costs approximately £3,800. That is a 375% increase in just one decade.

To put that into perspective: if you'd purchased a gold ring for £100 in 2015, that same amount of raw material would cost you £475 today.

Silver tells a similar story, though with different numbers. A decade ago, silver was valued at around £10 per ounce. Today, it's trading at roughly £80 per ounce. That's an eightfold increase that many people overlook because silver feels like the 'cheaper' metal. But for those of us crafting with solid silver, the pressure is just as real.

Why Has This Happened?

The price of precious metals doesn't exist in a vacuum. Several factors have converged to push prices upward:

Global Economic Uncertainty: During periods of economic instability, investors flock to precious metals as safe-haven assets. Gold and silver offer security when stock markets feel volatile. This increased demand naturally drives prices up.

Supply Constraints: Mining rare metals is complex, expensive, and increasingly regulated. New mining operations take years to develop, while demand continues to grow. This supply-demand imbalance pushes prices higher.

Industrial Demand: Silver, in particular, plays a crucial role in renewable energy (solar panels), electronics, and medical devices. As the world moves towards sustainable technology, demand for silver has accelerated significantly.

Currency Fluctuations: The strength of the British pound against the US dollar (where precious metals are priced globally) affects the UK cost of gold and silver. A weaker pound means higher prices in sterling.

Inflation: Persistent inflation over recent years has made precious metals even more attractive to those looking to protect their wealth.

What This Means for Jewellery Makers

For smaller jewellery studios like ours, these price increases directly impact our ability to source materials. Unlike large manufacturers who might have bought precious metals years ago and locked in lower prices, we purchase materials regularly to ensure we're working with the finest quality and most up-to-date standards.

A signet ring that cost me £150 to produce five years ago might now cost £500 in materials alone, before we even begin the handcrafting process. A delicate silver pendant that once used £20 of raw silver might t now require £160 worth of material.

For as long as I could, I’ve allowed my business to absorb these costs because I am committed to you and to my craft. But eventually, the gap between what raw materials cost and what I need to charge becomes unsustainable. I believe in being honest about this reality.

Why We're Not Compromising

Here's what's important: we're not using this as an excuse to cut corners. When prices rise, many makers reduce gold content, switch to plated materials, or source from less ethical suppliers. We're not doing any of that.

Our solid 925 sterling silver remains solid. Our gold is recycled, certified, and genuine. Our gemstones are ethically sourced. My commitment to handcrafting each piece in our Nottinghamshire studio continues. We're raising prices because we refuse to compromise on quality or ethics. When you buy Cast & Found, you're buying a piece made responsibly, with care, and built to last. That matters, and it has real costs attached.

Looking Forward

I don't know where precious metals prices will go from here. Forecasting commodity markets is notoriously difficult. But what we do know is that we'll continue to make the best jewellery we possibly can, using the finest materials, crafted with intention and care. 

For the last few years repurposing heirloom gold has become more popular. This is something I love to offer, it is better for the environment, increases the sentiment of pieces, and also can help keep costs down. I predict that we will soon be repurposing old silver in the same way. 

If you've been thinking about treating yourself or someone special to a piece of Cast & Found, now might be the moment to do so. Whether you want to capture a natural form you've found on a countryside walk, create something to mark a special moment, or simply invest in a beautiful piece of jewellery that will outlast trends, we're here to help.

Thank you for understanding and for supporting our small studio. Your loyalty means everything to us.

Warmly,

Jessica

Cast & Found