London (Lord Media): Rolex has increased the prices of its gold watches for the second time this year. Experts attribute this hike to rising gold prices and strong demand from wealthy buyers.
Rolex has implemented an average price increase of five percent on its gold watches globally. This adjustment has taken effect in major markets such as the United Kingdom, Hong Kong, and the United States.
In January, Rolex had also raised prices, but that was limited to specific countries and models. This time, the increase applies to all gold watches.
Experts suggest that affluent individuals view expensive watches as a sound investment. As a result, despite the price hikes, sales of Rolex and other luxury brands remain unaffected.
Cartier also increased its gold watch prices by ten percent last month, citing rising gold prices and currency fluctuations as reasons.
While Rolex has raised prices, it has not issued any official statement regarding the increase.
Gold prices have doubled since 2024, leading to an average increase of 4 to 6 percent in gold watch prices.
Zahir Gidri, founder of a luxury watch research institute, stated that companies are encouraging wealthy customers to invest in precious metals.
Exports of expensive watches from Switzerland have also risen, indicating a growing global interest in luxury timepieces.
