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Respected Contributor
Posts: 4,618
Registered: ‎03-12-2010

Gold lowest price in 5 years

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    Cat Surprised

Trusted Contributor
Posts: 1,768
Registered: ‎03-10-2010

Re: Gold lowest price in 5 years

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.

 

 

“I can do things you cannot, you can do things I cannot; together we can do great things.” St.Teresa of Calcutta
Super Contributor
Posts: 316
Registered: ‎04-07-2015

Re: Gold lowest price in 5 years

Yup my DH has said that Gold/Silver will be worthless when the (upcoming) Global Monetary Units go into effect....

Honored Contributor
Posts: 12,101
Registered: ‎03-09-2010

Re: Gold lowest price in 5 years

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.

Respected Contributor
Posts: 2,486
Registered: ‎03-10-2010

Re: Gold lowest price in 5 years

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.

Respected Contributor
Posts: 4,020
Registered: ‎03-12-2010

Re: Gold lowest price in 5 years

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. 

_____ ,,,^ ._. ^,,,_____
Respected Contributor
Posts: 3,596
Registered: ‎03-10-2010

Re: Gold lowest price in 5 years

Why did it go down? 2.7 billion dump in the middle of the night causing a flash crash?
http://www.zerohedge.com/news/2015-07-19/gold-precious-metals-flash-crash-following-27-billion-notio...
Esteemed Contributor
Posts: 7,620
Registered: ‎05-13-2012

Re: Gold lowest price in 5 years

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.

Esteemed Contributor
Posts: 6,278
Registered: ‎03-09-2010

Re: Gold lowest price in 5 years

 

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.

Fortēs fortūna adjuvat
Respected Contributor
Posts: 2,112
Registered: ‎12-08-2014

Re: Gold lowest price in 5 years

   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.