Pandora warned that rising silver and gold prices could impact its 2026 operating profit margin target, causing shares to drop by as much as 7%. The Danish jeweler, known for its charm bracelets, maintained its 2024 operating margin goal of around 25%, but acknowledged that higher commodity prices could challenge its 2026 target of 26% to 27%. To offset this, Pandora plans to raise prices further. Despite a slight increase in Q3 operating profit, shares fell due to concerns about the rising cost of silver, which has surged from $22 to $32 per ounce since February.