In Canada, the jewellery market in February 2026 is currently featuring "Winter Clearance" sales and early spring collection previews. Major retailers are offering significant discounts on diamond inventory and tiered gift card promotions.
1. Major Retailer Offers
Peoples Jewellers
As one of Canada's most prominent chains, Peoples is running several high-value promotions:
* Select Style Savings: Up to 30% off select styles of rings, necklaces, and earrings.
* Clearance & Closeouts: An extra 15% off already reduced clearance and closeout items.
* Pre-owned Luxury: Up to 50% off pre-owned jewellery, plus an additional 15% off select pieces this month.
* Financing: 0% interest financing is available through the Peoples Jewellers credit card.
Michael Hill Canada
Michael Hill is currently focusing on "Everyday Luxury" and birthstone specials:
* Amethyst Special: As the February birthstone, Amethyst jewellery is being highlighted with specific "Member Only" pricing.
* Gold & Watches: Up to 25% off selected gold jewellery and watches.
* Clearance: Up to 40% off clearance diamonds and retired collections.
* Brilliance Member Perk: New members receive 15% off their first purchase upon joining.
Maison Birks
Canada’s luxury jewellery leader has unique high-value gift incentives:
* Gift Card Bonus: From February 6th to 15th, customers who spend $500 or more receive 15% of their purchase value back on a Maison Birks gift card.
* Birks Essentials: Competitive pricing on the "Birks Essentials" line, with sterling silver pieces starting around $80 CAD and 18k gold chain bracelets starting at $880 CAD.
Mejuri
The popular "everyday luxury" brand continues its focus on curated bundles rather than traditional site-wide sales:
* Bundle Deals: Save approximately 10% to 15% when purchasing pre-curated sets like the "Better Together" bracelet bundle or "Dôme Figure" ring stacks.
* Sign-up Bonus: New customers receive 10% off their first order when signing up for text alerts.
* Mejuri+ Perks: Members receive free shipping every Monday and exclusive access to "Last Chance" discontinued items.
2. Current Gold Rates in Canada (CAD)
Gold prices in Canada have been on a rising trend throughout February. As of February 21, 2026, the indicative rates are as follows:
* 24K Gold: Approximately $225.00 per gram.
* 22K Gold: Approximately $213.00 per gram.
* 18K Gold: Approximately $174.30 per gram.
* 14K Gold: Approximately $131.25 per gram.
3. Buying & Savings Tips
* Lab-Grown Diamonds: Retailers like Pandora and Michael Hill are offering aggressive pricing on lab-grown diamonds this month, with Pandora featuring up to 30% off select lab-grown sets.
* Tax-Free for Visitors: International visitors to Canada can sometimes benefit from tax-refund programs, though these are limited by province. Always check if the retailer participates in a duty-free program if you are exporting the jewellery.
* In-Store vs. Online: Michael Hill and Peoples often have "Online Only" clearance sections that offer deeper discounts (up to 50%) compared to the physical boutique stock.
1. Major Retailer Offers
Peoples Jewellers
As one of Canada's most prominent chains, Peoples is running several high-value promotions:
* Select Style Savings: Up to 30% off select styles of rings, necklaces, and earrings.
* Clearance & Closeouts: An extra 15% off already reduced clearance and closeout items.
* Pre-owned Luxury: Up to 50% off pre-owned jewellery, plus an additional 15% off select pieces this month.
* Financing: 0% interest financing is available through the Peoples Jewellers credit card.
Michael Hill Canada
Michael Hill is currently focusing on "Everyday Luxury" and birthstone specials:
* Amethyst Special: As the February birthstone, Amethyst jewellery is being highlighted with specific "Member Only" pricing.
* Gold & Watches: Up to 25% off selected gold jewellery and watches.
* Clearance: Up to 40% off clearance diamonds and retired collections.
* Brilliance Member Perk: New members receive 15% off their first purchase upon joining.
Maison Birks
Canada’s luxury jewellery leader has unique high-value gift incentives:
* Gift Card Bonus: From February 6th to 15th, customers who spend $500 or more receive 15% of their purchase value back on a Maison Birks gift card.
* Birks Essentials: Competitive pricing on the "Birks Essentials" line, with sterling silver pieces starting around $80 CAD and 18k gold chain bracelets starting at $880 CAD.
Mejuri
The popular "everyday luxury" brand continues its focus on curated bundles rather than traditional site-wide sales:
* Bundle Deals: Save approximately 10% to 15% when purchasing pre-curated sets like the "Better Together" bracelet bundle or "Dôme Figure" ring stacks.
* Sign-up Bonus: New customers receive 10% off their first order when signing up for text alerts.
* Mejuri+ Perks: Members receive free shipping every Monday and exclusive access to "Last Chance" discontinued items.
2. Current Gold Rates in Canada (CAD)
Gold prices in Canada have been on a rising trend throughout February. As of February 21, 2026, the indicative rates are as follows:
* 24K Gold: Approximately $225.00 per gram.
* 22K Gold: Approximately $213.00 per gram.
* 18K Gold: Approximately $174.30 per gram.
* 14K Gold: Approximately $131.25 per gram.
3. Buying & Savings Tips
* Lab-Grown Diamonds: Retailers like Pandora and Michael Hill are offering aggressive pricing on lab-grown diamonds this month, with Pandora featuring up to 30% off select lab-grown sets.
* Tax-Free for Visitors: International visitors to Canada can sometimes benefit from tax-refund programs, though these are limited by province. Always check if the retailer participates in a duty-free program if you are exporting the jewellery.
* In-Store vs. Online: Michael Hill and Peoples often have "Online Only" clearance sections that offer deeper discounts (up to 50%) compared to the physical boutique stock.
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