Among the many who have tracked gold’s stunning rally this year, Noura Sakkijha has an especially personal — and economic stake — in the game.
As the cofounder and CEO of the jewelry brand Mejuri, Sakkijha said that the company’s direct-to-consumer model has helped it stay nimble amid soaring gold prices, in part by offering customers an entirely new material. Investors have flocked to gold, driving its price up by more than 50% this year. Prices of the safe-haven asset hit a record of nearly $4,400 per ounce in October, before falling sharply and settling to around $4,000 per ounce. Silver prices have also gone up and reached an all-time high last month.
“You’re operating at a completely different cost for all fine jewelry brands,” Sakkijha told Business Insider. Coming from a family of jewelers, Sakkijha said maintaining accessible pricing is important.
With its direct-to-consumer model, Mejuri works with manufacturers and sells jewelry straight to consumers, which Sakkijha said has come in “very, very handy right now, because what you need is agility.” The brand — popular on social media and known for accessible luxury, like classic chain necklaces that cost a few hundred dollars — can more easily adjust its prices, she said.
Mejuri has introduced 10-karat gold, in addition to its typical 14-karat gold, silver, and vermeil, which is gold-plated jewelry. Sakkijha also said Mejuri has started offering some products in vermeil that it used to only sell in 14-karat gold.
The metals make a big price difference — for example, Mejuri’s “bold huggie hoops” cost $268 in 14-karat gold, $198 in 10-karat gold, $78 in sterling silver, and $78 in vermeil.
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“The goal for us is to make sure that we always have well-designed products that are very well made at great prices,” Sakkijha said.
Sakkijha estimated that Mejuri has raised prices by less than 10% across collections in the past year, in part to cope with changing material costs. The price change varies by item, the company told Business Insider, meaning some have seen a larger increase.
Mejuri is based in Canada, but Sakkijha said that the majority of its market is in the US, meaning she’s had to react to tariffs and trade tensions quickly. Mejuri manufactures globally, and Sakkijha said they’ve adjusted some production plans in response to evolving tariffs.
Though the skyrocketing gold prices are far from ideal, Sakkijha said Mejuri is in a good spot, since it’s known for dainty jewelry that uses less material.
“We design into these price points that we know are very important to our customers,” she said.
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