NAJ aims to quell fears around precious metal price volatility

In response to the unprecedented price fluctuations of precious metals over recent months, the National Association of Jewellers (NAJ) has been prompted to publish a draft version of its new Precious Metal Pricing and Managing Customer Expectations guidance document.

It comes in response to a growing number of its members seeking advice and support, as worry creeps in over the effect that the uncertainty over prices will have on day-to-day trading and margins. 

The guidance is based on feedback and expertise drawn from the NAJ’s membership, including independent retailers, designers, manufacturers, suppliers, and valuers. 

“Precious‑metal prices have risen at a pace and scale that many jewellers have never experienced before, and it is entirely understandable that businesses across our community are feeling the pressure,” said Ben Massey, NA’s CEO. “This guidance has been created to provide steady support during a period of uncertainty, helping members position products responsibly, safeguard their margins, and set clear expectations with customers.

“What makes this document especially valuable is that it reflects the lived experiences of our members,” he continued. “Independent retailers, manufacturers, designers and valuers have generously shared their insights and best practice, and this collaborative spirit is exactly what makes the NAJ community so strong.

“As this is still in a draft phase, we warmly welcome feedback to ensure the final guidance is genuinely useful to all parts of the trade.”

The Precious Metal Pricing and Managing Customer Expectations guidance document can be viewed HERE.