Amid the rising cost of gold, people are redefining the meaning of heirloom jewelry

When I was planning my wedding, I didn’t have much of a vision for the venue, my outfit, or what the day would look like. But the one thing that was crystal clear to me was the jewelry I wanted to wear. I knew without a shadow of a doubt that I wanted to wear Desi jewelry, ideally a necklace, earring, and tikka set that represented my Pakistani heritage. I also knew I needed my mom’s help, so she spent part of a trip to Pakistan FaceTiming me so I could weigh different options and she could help me with bargaining. I landed on a necklace and earring set adorned with tiny white stones that glinted in the sun, and pearls hanging from the bottom, all set in gold.

After I got married, I spent more time noticing the jewelry that other brides would wear, starting with photos of my grandma and mom. Where are those pieces now? I wondered. And what are the things that I could pass down to future generations?

I imagined that most of my heirlooms would be jewelry, an affinity I had inherited from my mom, who insisted on never leaving the house without a pair of earrings on. During one of my visits to her house, I asked if she had any pieces that she planned to pass on to me. To my surprise, she told me that almost all of them were in a bank. She didn’t remember a lot of what was in there, and there was only one way to find out.

When we finally visited the bank, I was amazed to find out how many pieces of jewelry were sitting in her little vault. Dangling diamond earrings with a citrine stone at the end, which my mom had picked because it was my birthstone. Gold bangles she wore on her wedding day that seemed small enough to fit a little girl. And lastly, a necklace full of small pearls set in gold, ending in a teardrop-shaped pendant. My grandma had designed this jewelry set for her to wear on her wedding day, and it was my first time seeing it.

But what happens when our heirlooms sit in a bank vault collecting dust, never to be worn? Or worse, what happens when we don’t know the stories of where these pieces came from? Turns out I’m not the only one with a history of gold heirlooms, especially in the form of jewelry.

Gold as an heirloom and a form of inheritance

In some cultures, including in South Asia, gold is gifted upon birth as well as upon marriage. Kashi Bhatt, an Indian American lawyer based in New York, had her ears pierced a few weeks after being born, and her grandma gifted her a pair of gold star-shaped studs. Years later, these earrings sit in the bank next to her sister’s dolphin-shaped earrings, which were also gifted to her by their grandma. 

Similarly, Yasmine Hashemi has jewelry she received upon birth, as well as pieces from her dad, grandma, and aunt—including bangles, necklaces, and earrings. These pieces are some of the many things that help Hashemi feel connected to her Persian and Iranian heritage. “I would see my grandma wear her necklace every day, and now I have it,” she says. “I don’t know a lot of the stories behind these pieces, especially because so many people in my parents’ generation had to leave Iran so suddenly.”

But gold isn’t just a monetary investment. Oftentimes, it is an emotional one. Although Bhatt doesn’t have much of an affinity for gold jewelry herself, her parents were clear that it is a worthy investment, and serves as a status symbol and physical reminder of how hard they had worked to be able to have it.

“Gold has always lived at the intersection of emotion and value,” says Lauren Forbes, CEO and designer behind Lauren Cameron Fine Jewelry, a gemologist-led independent design house. “It’s precisely because it holds worth over time that it’s been used to mark love, commitment, and legacy across cultures.”

South Asian women have often received gold jewelry upon marriage as a dowry. Sometimes, it has been the only form of wealth and financial security that they received. “My grandma was very young when she got married, and she didn’t get an education beyond seventh grade,” Bhatt says. “The things she brought to the household were her skills, and the monetary ‘value’ she brought to the household was gold. It was a way she could contribute to this union, and her husband was the one who brought home money for the household.”

Gold pieces can also capture someone’s culture or ancestry and can be used for cultural and religious traditions. “My family prays to Lakshmi, the Hindu goddess of prosperity, wealth, and ongoing protection,” Bhatt says. “Gold also symbolizes a form of purity and eternality. When someone passes away, we put a piece of gold in their mouth so that as they transition from this world into that next, they are protected.”

As gold continues to have cultural value, its monetary value has recently skyrocketed. Gold prices saw continuous gains in 2025, starting the year at $2,600 an ounce and rising as high as $4,400 an ounce. This price has been influenced by many factors, including economic turbulence, uncertainty related to tariffs, and a desire to diversify one’s portfolio of assets away from cash alone. “Factors like interest rates, currency strength, and increased demand from investors and central banks all play a part,” Forbes says. “In periods of economic uncertainty, investors and institutions move toward assets perceived as stable stores of value. Gold has historically filled that role, increasing demand and driving prices up.”

Is the price of gold worth it for its longevity?

Gold is a unique material because it is circular, meaning its properties and purity stay the same even if it’s reimagined. This means that pieces made of gold can stand the test of time to be passed down in their original form, or the materials can be recycled to create a new piece. “It helps if the craftsmanship of an heirloom allows it to live many lives, which is why jewelry is often passed down through generations,” Forbes says. “The metals and stones can stand the test of time, and not all things can. That’s why fine jewelry makes for an enduring heirloom.”

The rising cost of gold certainly drives up retail prices on gold pieces but in Bhatt’s case, she doesn’t see her family changing how much they spend on gold pieces. If anything, they may decide to spend less on other things, but gold is always worth the investment. “As a kid, I would question why we would spend so much on gold,” Bhatt says. “In response, my parents would tell me that gold is an investment that’ll last. It was also seen as moving money from one form to another instead of spending it.”

What’s in an heirloom?

An heirloom can be just about anything that’s passed down, and it often has sentimental value associated with the person who originally owned it or the way it was acquired.

For Forbes, an heirloom is marked by having emotional significance and durability that enables it to last. She has jewelry that she’s received or made for special occasions like high school graduation or an engagement ring, including a pendant that has her family’s crest and coat of arms that could be potential heirlooms in the future. “Fine jewelry isn’t just an adornment, it’s an object meant to last,” Forbes says. “I saw these pieces as something I could one day pass down, carrying those moments and memories forward for future generations.”

Not all heirloom pieces have to be made of gold, but it is a material well-suited for living many lives. That’s partly why gold pieces are usually passed down from generation to generation or transformed into a new piece, but rarely sold. “The only times I’ve seen my family sell gold are when they sell broken pieces or melt current pieces to make new ones,” Bhatt says. “Still, they know that they have the option of selling down the line, so it feels like a good investment.”

Heirlooms can also be any items that have emotional significance, which are usually attached to the stories of people who previously owned these items. “Our heirlooms aren’t just jewelry,” Hashemi says. “My grandma was a painter, and her pieces are all around my mom's and aunt’s homes. Those were meaningful to us because a lot of her pieces were lost or were given away, so we only have what’s left.”

Similarly, one of Bhatt’s most cherished heirlooms is a pin of the Hindu deity Krishna, which she made for her grandma as a kid. There was also another piece that was particularly significant. “When my grandma was in the hospital, they made her take off all her jewelry before she went into surgery,” Bhatt says. “The pieces we were most protective of were the gold chain she wore every day, and her prayer beads. Those were immediately taken to a bank for safekeeping.”

More than anything, heirlooms connect us to the stories of the people we know and the places we come from. Sometimes they’re gold, and sometimes, they’re just special to us as they are. “Jewelry and heirlooms are a part of the culture just as much as language,” Hashemi says. “More than that, it’s a great way to be connected to a person. My mom still wears the watch that my dad would wear. We all have our everyday pieces, and that’s the most valuable heirloom you can pass down.”

The price of gold is projected to keep rising, which leaves people with many options, including repurposing existing pieces, buying fewer pieces, or options for alternatives. There are no right and wrong answers, but it’s clear that gold is used for heirlooms because it can stand the test of time.