Gold prices prompting luxury watch melting
Gold prices soared to a record high of $5,600 per ounce, prompting owners of luxury watches—such as Omega and Tag Heuer—to melt down some of their timepieces, particularly used and classic models, to capitalize on the high gold value. This trend emerged alongside expectations that gold prices would rise between $5,400 and $6,300 per ounce over the year, leading some to disassemble certain watches to extract gold components that are worth more than their selling price.
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