Gold at $4,200 sends vintage watches to melting furnaces

Surging gold prices have shifted the economics of the secondary watch market, prompting dealers to melt down less-collectible gold timepieces rather than resell them. After Rolex and Cartier raised gold-watch prices by 5-10% earlier in June to reflect bullion costs near $4,200 an ounce, the same high prices now make scrap value exceed auction estimates for many Omega and TAG Heuer models. Industry data show gold recycling already rose 5% to 366 tonnes in Q1, with further increases expected if prices remain elevated. The trend underscores gold’s safe-haven strength while eroding preservation of mainstream vintage watches.