When Gold Prices Go Up, Jewelry Prices Follow

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 […]

Click here to view original web page at www.nytimes.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.