Gold girlies, rejoice: Tiffany & Co. will be moving away from silver jewelry.
The New York-based luxury jewelry company is pivoting away from silver jewelry and going all in on gold and high jewelry, executives from its parent company LVMH said in a Tuesday earnings call.
“Tiffany had excellent products, but we redirected the house so that it can develop in jewelry and high jewelry, fewer silver products,” said Bernard Arnault, the French luxury giant’s CEO.
LVMH’s group managing director, Stéphane Bianchi, said Tiffany is “hugely focused” on silver products, but the group is pushing the brand toward gold and high jewelry. High jewelry is crafted from precious metals like gold and rare gemstones such as diamonds, rubies, and emeralds.
Bianchi said demand for high jewelry has quadrupled over the last four years, while demand for silver jewelry has declined by a third since LVMH acquired Tiffany in 2021. The $15.8 billion acquisition was LVMH’s biggest to date.
This is a significant shift for Tiffany, which has specialized in silver throughout its history. It was the first American company to use the British standard for 92% pure silver in its jewelry in 1851.
And its first international recognition came from the 1867 Paris Exposition, where the company was awarded for its silverware.
Tiffany is part of LVMH’s watches and jewelry division. In LVMH’s latest earnings report, the division reported €10.5 billion in sales, or about $12.6 billion, in 2025, a 1% decline from the previous year. LVMH’s stock price is down about 22% in the past year.
Representatives for Tiffany and LVMH did not respond to queries from Business Insider about how this change would affect the supply of Tiffany’s existing silver products.
Silver prices have risen dramatically, now ‘appears expensive’
Tiffany’s shift comes amid a historic rally in the precious metals complex.
Gold and silver prices have surged to record highs over the past year, driven by geopolitical tensions linked to President Donald Trump’s trade agenda, aggressive central-bank buying, and FOMO-fueled retail demand.
Spot gold broke above $3,000 per troy ounce in March, climbed to $4,000 in October, and smashed past $5,000 earlier this week. Gold prices are up about 20% so far this year after surging 73% in 2025, and are currently trading around $5,240 per ounce.
Silver has followed gold’s meteoric rise, with speculative frenzy — particularly from China — fueling a red-hot rally. The price of the white metal breached $100 per ounce last week and is now trading around $115.
Silver’s gains have far outpaced gold’s. Spot silver is up 56% year to date after soaring 170% last year.
The white metal’s rapid ascent has left it looking stretched relative to gold, which has historically served as a haven asset and store of value.
The gold-to-silver ratio — which measures how many ounces of silver are needed to buy one ounce of gold — has fallen to a four-year low, signaling that silver now “appears expensive,” according to a Monday note from BMI Research.
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