Philip Cheung for The New York Times
The sharp rise in gold prices this year has affected more than just investors looking for safer places than the stock market to stash their money.
Designers of demi-fine jewelry — the popular category designed for casual wear, and priced to encourage just modestly guilty shopping — are struggling with the increased cost , as are the retailers that carry their brands.
On Jan. 1, gold was priced at slightly less than $1,550 an ounce; by Oct. 1, it was hovering at $1,900 for the same amount. And prices have continued to fluctuate, including in the wake of the American presidential election. The change has been driven, as it often is during uneasy times, by the perceived security of investing in gold.“It does make a huge difference and we have to be incredibly conscious about it,” said Zoë Chicco, the founder and designer of her […]
November 17, 2020 (updated November 17, 2020) Published by StockMan