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

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

State of play: The luxury watchmaker is raising prices on its watches by up to 8% depending on the model, Bloomberg reports. For example, a yellow gold Day-Date model with a 40-mm black dial now costs about $45,809, up nearly 8% from last year.

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.

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,