The cost of gold per ounce increased about 27% in 2024, reaching an unprecedented high of $2,790 per ounce.

Rolex watches, which aren’t known for their affordability, are getting even more expensive this year with the soaring price of gold to blame.

Rolex SA, the biggest luxury Swiss watch brand, raised prices on some of its most popular models after gold values surged in 2024.

This year’s increases are notably larger than last year’s. Rolex raised prices on some precious metal models by about 4% in the United Kingdom at the start of 2024.

Rolex has hiked prices by up to 15% in a new year adjustment driven by rising costs, particularly for gold. For Swiss manufacturers, the price of gold rose by 33% in 2024 from around CHF 1,750 per ounce at the start of the year to CHF 2,

Amid gold's record-breaking 27% surge in 2024, Rolex SA increased prices on select luxury models, with precious metal timepieces rising by up to 8%. The yellow gold GMT-Master II now costs €44,600.

Another popular Rolex reference, the Daytona, went from $15,100 USD in 2024 to $15,500 USD for its steel and Oyster bracelet option — a noticeable increase of $400 USD (around 2.6%). A similar change is also reflected in the UK market, with the same reference now retailing at £13,600 GBP, which is 3% more than its £13,200 GBP price tag in 2024.

In a move reflecting the surging value of gold, Rolex SA, the titan of Swiss luxury watchmaking, has initiated a significant price increase on some of its most sought-after timepieces. This adjustment,