Thanks to Trump's tariffs, silver jewellery is on the rise – and it's great for older complexions

Telegraph

23-04-2025

Are you a gold person or a silver person? Not long ago, the answer would be instant and definitive; like cat or dog, gin or vodka. But after years of yellow-gold dominance, the winds of change are shifting former die-hard gold fans towards the cool brilliance of silver.
The price of gold has a part to play, due to financial uncertainty globally after Trump's tariffs caused the stock market to plummet. Gold's value has risen as a result. It has increased by 37 per cent over the past year and last month hit an all-time high of $3,000 (£2,300) per troy ounce, a shift that will force jewellers to raise prices on already-expensive gold jewellery once again. Silver has also increased, by a more modest 13.38 per cent, and now hovers around £24.71 per ounce. One-hundredth of the price, when consumers are more prudent than ever; it's no surprise that many jewellers are welcoming the move towards silver.
'In recent years, I have noticed a growing interest in silver jewellery, especially among older clients,' says the Chelsea-based jeweller Cassandra Goad, who for 40 years has created designs in silver as well as solid gold. 'My silver designs have long been popular among younger age groups, but now more women are choosing it as a practical, accessible yet stylish alternative to gold.' It's more understated, she adds, and suitable for the workplace; equally, clients are opting for statement silver jewels for evenings out, 'leaving their heirloom evening jewels safe at home'.
From a jeweller's perspective, the more modest material cost encourages creativity and permits larger, more striking pieces. 'As a designer, I love how adaptable and playful silver is – there's less concern about the weight of the piece compared to gold, so it can be quite freeing,' says Francesca Kippax, the founder of Anuka, whose sculptural pieces are crafted from recycled sterling silver or Fairmined gold. For spring/summer 2025, the jeweller collaborated with fashion designer Patrick McDowell on a range of oversized floral designs which have been worn by Keira Knightley, who demonstrated how sophisticated silver can look.
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'Silver is often thought of as a metal for younger complexions, but I find it striking on more mature skin tones. Its cool, clean tones can create a beautiful contrast,' says Goad. The steely lustre of silver works well with grey or white hair, too. For its latest campaign, British brand Otiumberg enlisted Sarah Harris, the Vogue editor known for her mane of white hair, who appears adorned in silver jewellery.
Otiumberg's silver jewellery sales have increased by 244 per cent over the past year, and it is producing its best-selling gold designs in sterling silver to meet customer demand. 'As a business we have fallen in love with silver and I think our customers see the value in it too,' says co-founder Christie Wollenberg. 'We often mix metals in our shoots and our customers are happy to play a little more with the tones they wear.'
Silver lends itself to the sculptural trend that currently dominates jewellery: a look perfected at By Pariah, whose curvaceous Luna cuff is a bestseller. 'Silver allows for elevated design at an entry-level price point,' says founder Sophie Howard. 'I love that silver doesn't pretend to be anything else, unlike gold vermeil or other metals that try to mimic the appearance of more expensive materials. It proudly embraces its own unique character and charm.'
The New York-based jeweller Nina Runsdorf recently dug out a suite of silver jewellery she made in her parents' kitchen in the late 1970s, which was inspired by contemporary American sculptors. Encouraged by the reactions of her 20-something employees, she decided to revisit the designs in a new silver collection called Archive. And it's proving popular across all age ranges, she says, thanks to the chunky, statement silhouettes and effortless wearability.
Oversized earrings and spiralling silver rings are popular at Greek brand Ysso, whose Birth of Venus necklace pairs a silver shell with a leather cord, tapping into the Nineties nostalgia that has been popular for the last few seasons. 'Some people have always worn silver – it's central to their personal style – while others are only now beginning to explore it,' says co-founder Alexia Karides. Those discovering it later in life find it surprisingly flattering. 'Silver emits a cool-toned light that complements older complexions beautifully; it brings a sense of quiet elegance and refinement.'
The metal's low-key look feels right for now, says Anna Jewsbury, the founder of London-based brand Completedworks, which had seen a 91 per cent increase in sales of silver jewellery over the last 12 months. 'Silver has a different kind of energy; it's cooler, more understated, and somehow feels more in step with the mood right now. There's a move away from overt displays of luxury, and silver speaks to a quieter kind of confidence, an unfussiness which feels modern and relevant.'
Not all silver-toned jewellery is made of solid silver, so it's important to inspect the material details carefully. Sterling silver is 92.5 per cent pure silver and is more durable than silver-plated jewellery, which is often made of brass. And as with any precious material, provenance is a growing concern. Many jewellers use recycled silver. 886, the brand backed by The Royal Mint, uses silver reclaimed from discarded X-ray films. Its bar pendants turn usually hidden hallmarks into decorations to be worn proudly, testament to the purity and inherent preciousness of the metal.
Silver will tarnish with oxidisation, so silver jewellery requires extra TLC to keep it looking its best. Chlorine will turn it black, so it shouldn't be worn while swimming. 'I always advise clients to store their silver jewellery in a zip lock bag when not in use for extended periods to help reduce oxidation,' says Goad. If starts to look dull, using bicarbonate of soda and a polishing cloth or a good-quality silver cleaner (Goad recommends Town Talk Silver Sparkle) will restore its shine.
All of which is good news for those who have unloved silver pieces lurking at the back of their jewellery box. A quick polish, and you might find they breathe new life into your tried-and-trusted summer outfits. Especially if in the intervening years you've decided to embrace silver up top, too.