Why Your Grandma's Gold Chain Is Worth More Than Ever
A look at how skyrocketing gold prices are affecting vintage and heirloom jewellery.
If you’ve inherited a gold chain from your grandmother—or have a few vintage pieces tucked away in a jewellery box—now might be the time to give them a second look. With gold prices at near-record highs, those sentimental pieces are no longer just meaningful keepsakes; they could also be surprisingly valuable assets.
Gold has always had a certain timeless appeal, but in 2025, it’s also become a safe haven for investors. As of May 23, 2025, spot gold sits at about £2,650 per ounce, marking its best weekly gain in over a month amid a softer U.S. dollar and mounting fiscal concerns in Washington .
With ongoing global uncertainty and inflation concerns, the price of gold has soared. That’s having a ripple effect on the vintage market, where solid gold items—especially antique and heirloom quality—are more sought after than ever.
Unlike modern mass-produced jewellery, vintage and antique gold chains often feature high-purity gold (like 18ct or even 22ct) and beautiful craftsmanship that can’t be easily replicated today. This makes them doubly desirable: valuable for their metal content and collectible in their own right.
So whether you're wearing your grandmother’s chain or it’s tucked away for “special occasions,” it might be time to reassess its worth—not just sentimentally, but financially too. And if you’re lucky enough to have a few vintage gold treasures, know this: you’re holding onto history... and maybe a small fortune.
The High Price of Gold: Safe Haven or Bubble?
Gold’s glittering allure has long made it the go-to asset when economic storms gather. In times of market turbulence—whether spiking inflation, geopolitical tensions, or sharp equity sell-offs—investors rush to gold for its perceived stability and intrinsic value. Central banks around the world have also been net buyers, bolstering demand and underpinning prices. This collective flight to safety has driven gold to multi-year highs, reinforcing its reputation as a reliable hedge against uncertainty.
Yet with gold trading at elevated levels, questions arise: is this a sustainable plateau or the crest of a speculative wave? Unlike stocks or bonds, gold produces no cash flow or dividends, so its value rests entirely on future expectations. If global inflation cools or risk-on sentiment returns—say, through a decisive easing of geopolitical conflicts—some investors may rotate back into yield-generating assets. That could leave gold vulnerable to sharp corrections, much like any overheated market.
On the other hand, structural factors argue for a continued firm floor under gold prices. Real interest rates remain near historic lows in many developed economies, diminishing the opportunity cost of holding a non-yielding asset. Meanwhile, emerging-market demand—from both private buyers and public institutions—shows few signs of abating. Even if short-term profit-takers step aside, these deeper currents could prevent a full-blown slump. In this light, today’s gold price may feel lofty, but it could also reflect a new normal in an ever-uncertain world.