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07-21-2015 12:30 AM
It is down from $1900 to $1100, the lowest since March, 2010.
Do you think prices of gold jewelry have reflected that prices are going down?
Hyacinth
07-21-2015 01:06 AM
I am not sure about the price of jewelry, but I was listening to Dave Ramsey tonight. He said that it is an unwise move to purchase gold, silver, or any other metals. He advises that gold is very volatile and has only a 4.2% return in a 70 year track record, which is about the rate of inflation.
07-21-2015 01:13 AM
Yup my DH has said that Gold/Silver will be worthless when the (upcoming) Global Monetary Units go into effect....
07-21-2015 06:39 AM
No, I would not expect jewelry prices to go down right now. Maybe in a year we might see a little break, but everything we're buying now was set in motion well over a year ago.
And even a year from now, there are many costs for a piece of jewelry that have nothing to do with the price of gold.
07-21-2015 06:42 AM
Gold is still about twice what it cost c. 2006, but I still buy the occasional piece.
We see the change in the "Bronzo" going on sale more often (it's not moving as fast as it did when gold was out of the question for most shoppers). There is also a larger and more varied inventory of 14K on the special Gold Days.
18K has still not returned to the Q, but I hope it will if gold prices continue to fall.
07-21-2015 08:13 AM
I would love to see more 18K jewelry. And does anyone remember Lambert Chang on ShopNBC and his 24K gold jewelry? That was a beautiful line that I wish evine would bring back.
07-21-2015 08:38 AM
07-21-2015 09:46 AM
I am so glad that I bought my really heavy pieces of gold jewelry when I was able to pay as little as $10/ gram. Those days are gone forever.
07-21-2015 10:57 AM
It may fall to 1000 per troy ounce but unless something dramatic happens, not much lower. Miners have a break-even figure of 1100 per troy ounce so if prices fall, they'll just stop mining and limit supply.
The bull-market in gold is over and with competition for the resouce from India and China, not likely to return. Fun while it lasted.
Good article about this in WSJ.
07-21-2015 11:06 AM
Sorry if I misunderstood the question. The price of gold today is totally irrelevant to the price of gold TODAY. The jewelry we buy today was manufactured one, two, three or more years ago and the price is based on the materials and manufacturing costs at that time. If gold prices stay down for a considerable amount of time, perhaps the price of gold jewelry will go down....a little bit. But we are never going to see old school gold prices again.
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