Gold Prices
June 5th, 2008 Posted in Oil and Precious Metals
Do you remember when was the last time you bought a 3-set of jewelry – necklace, earrings and bracelet – 18k gold for $100? This was not such a long time ago. This wonder took place when gold prices were at the $300 level. Today when gold prices are at the $900 and peaking beyond the $1,000 level, the best you can do is buy a 3 set around $400.
These high gold prices are not only high but also highly volatile. This high volatility of gold prices confuses everybody in the jewelry business from clients to manufacturers to store owners. When gold prices jump form day to day $50 up or down a store owner or manufacturer cannot place a price tag on gold jewelry. When you the customer, who only wishes to buy a nice gift for his wife on her anniversary, is in shock when you are told the latest price.
As only last year the price was half what it is now; this is what happens when gold price rise so quickly. When you go home and think about these gold prices a little more, you ask yourself: why should only the store owner become rich off the gold prices why shouldn’t I? Although you come to the conclusion that you cannot become a jeweler as you don’t know anything about the in and outs of the jewelry business. You have a better idea; why not trade gold and monopolize these gold prices to your advantage.
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Tags: Gold, gold prices, trade gold
