Households across France are increasingly turning to specialized gold purchasing agencies to convert idle jewelry into cash, driven by a combination of soaring gold prices and the need to manage living costs. As of early November 2026, the spot price of gold has stabilized around €115,000 per kilo, following a peak of €140,000 per kilo recorded earlier in the year. This price level, which is three times higher than the value of gold a decade ago, has prompted many individuals to sell family heirlooms and broken items previously stored away.
Retailers report a significant increase in foot traffic. Alexis Monceaux, Managing Director of Godot & Fils, notes that the current stabilization, while remaining very high, represents a period of relative calm after a volatile run-up. Feriel Belhassen, Training and Integration Manager for the Comptoir National de l'Or network, confirmed a 25% increase in agency visits compared to the same period last year. With 110 agencies currently operating in France and a goal of reaching 200, the sector is expanding from major cities into smaller towns to capture this growing demand.
The profile of sellers is diverse. Older demographics, often retirees like 'Francine,' a jewelry worker's daughter from Rennes, are selling items such as broken watches and old heirlooms to secure liquidity and mitigate theft risks, though many choose to keep some physical gold for inheritance purposes. However, a growing segment of customers includes those under financial pressure from high inflation. For them, liquidating jewelry is a calculated sacrifice to make ends meet during the end-of-year season, a trend expected to intensify through December as holiday spending requirements rise.
On the investment side, a younger demographic is entering the market, drawn by the stability of physical gold compared to volatile assets like cryptocurrencies. Alexis Monceaux highlights that while interest in Bitcoin remains, physical gold offers a reassuring, tangible asset with lower hacking risks. These new investors often prefer gold over traditional real estate or bank deposits, contributing to the rapid expansion of retail networks like Godot & Fils, which has grown from four agencies ten years ago to over 120 today.
In parallel, the Indian gold market is experiencing a resurgence. According to Crisil Ratings, which tracks 76 major retailers representing a third of industry revenue, footfalls are rising significantly in the October-December quarter. This rebound follows months of 'sticker shock' caused by elevated prices. The current uptick is being fueled by lower prices relative to their peaks and the onset of the wedding season, allowing demand to recover as consumers find entry points more appealing.
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