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Gold prices surge to $4,300/oz, pushing Canadian jewelers and shoppers toward cheaper alternatives and repairs.
Canadian jewelers face rising costs as gold prices hit $4,300 per ounce, up 55% this year, prompting shoppers to seek cheaper alternatives like lab-grown diamonds, silver, and lighter gold designs.
Many are repairing or reusing old jewelry instead of buying new.
Major retailers like Mejuri are offering 10-karat gold and adjusting prices, but repricing lags due to manufacturer mandates, leaving some customers paying 25% to 40% more.
With holidays accounting for 20% to 25% of annual sales, the season remains vital despite high prices, which experts say are unlikely to drop soon.
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Los precios del oro suben a 4.300 dólares por onza, lo que empuja a los joyeros y compradores canadienses a buscar alternativas y reparaciones más baratas.