Gold prices surged in 2026, reaching over $5,000 an ounce before retreating. The metal’s recent performance marked its strongest week since January, driven by investors looking for security during geopolitical uncertainty, shifting interest rates, and the outbreak of war in the Middle East.
James Constantinou, chief executive and founder of Prestige Pawnbrokers, explained that gold’s appeal lies in its long-standing role as a reliable asset. “Gold is tied to the US dollar, and both governments and investors rely on it when markets become unstable,” he said. Unlike silver, gold’s price tends to move more steadily. Demand from technology firms, especially those in artificial intelligence, has also increased as they incorporate the metal into their products.
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How to tell if your gold jewelry is real
Visual inspection alone isn’t sufficient. Constantinou advised examining a piece’s color, weight, and texture. Genuine gold won’t stick to a magnet—if it does, the item isn’t real. Some fakes use non-magnetic metals like copper, stainless steel, or aluminum to mimic gold’s appearance.
Gold-plated jewelry is another imitation. These items have a thin gold layer over a different metal, so they may appear authentic initially but won’t retain value over time.
Hallmarks provide the most dependable proof of authenticity. In the UK, gold jewelry must carry a legal hallmark that indicates its purity. The numbers correspond to carat levels: 999 represents 24-carat (the purest form), 916 is 22-carat, 750 is 18-carat, and 585 is 14-carat. Some pieces may use “k” markings, such as 18k instead of 750, but these still require verification.
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The hallmark also identifies where the piece was tested. The UK has four assay offices: Birmingham, Edinburgh, London, and Sheffield.
While hallmarks offer a useful starting point, Constantinou warned they aren’t infallible. “No matter what the hallmark says, it should still be checked and confirmed,” he said.
What gold purity means for value
Higher carat levels mean more gold content and higher prices. The most affordable gold jewelry commonly sold in Britain is 9-carat, which contains 37.5% pure gold. At the opposite end, 22-carat gold is less common in the UK, while 24-carat (999 purity) is typically found in coins and bars.
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Weight influences value as well. A 10-gram piece of 18-carat gold contains 75% pure gold, while the same weight in 9-carat gold holds only 37.5%. “If you’ve got more weight at the same purity, you’ve got more gold,” Constantinou said. “Purity makes a big difference too.”
Does age or brand add value?
Age alone doesn’t guarantee higher value. “The gold’s worth still depends on its purity, weight, and the current market price,” Constantinou said.
