Rolex has increased the prices of some of its gold watches in the UK following a surge in investor interest in the precious metal. The luxury brand has added as much as £1,500 to the price tags of certain models, such as the Daytona chronograph in white gold rose, which now costs £38,700, up from £37,200. Similarly, the price of the Yellow Gold GMT Master has risen from £34,000 to £35,400, according to Bloomberg data. This price adjustment comes after gold prices hit a record high this year, rising 14% so far.

Investors have been flocking to gold in anticipation of potential interest rate cuts in the US. Gold is often viewed as a stable investment during times of geopolitical and economic uncertainty, making it more attractive compared to interest-bearing assets like bonds. Rolex, which typically raises its prices annually, has been prompted to make more frequent adjustments due to currency fluctuations. Meanwhile, luxury watch retailer Watches of Switzerland reported growing waiting lists for watches despite the rise in prices.