14k / 18k gold pricing question

[larry321]

hello. i am currently looking to purchase either a 14k or 18k gold chain. my question deals with pricing. i have been pricing chains recently. these are the best prices i could find:


NEW 14k- $15 per gram
USED 14K- $11.75 per gram

NEW 18k- $20 per gram
USED 18K- $14.5 per gram

My questions are:

1. are those prices reasonable?

2. should new vs. used gold differ in price by that much?

3. how drastic a drop in current gold prices would it take for the above prices to start to drop?

4. is there anything i should look for when purchasing used 14k or 18k gold jewelry?

5. what are the best prices others have found for 14k / 18k gold?

thanks. any help is appreciated.

 

[mrssalvo]

Hi Larry and Welcome

you can check out http://www.kitco.com/ for info on metal pricing.

Any jewelry I have owned in 14K gold has turned yellowish over time. I''d stick with 18K if possible

Not sure how long you''d have to wait for dropping prices to lower the price. They sure don''t look like they will be heading back down any time soon

 

[riogems]

Hi Larry,

Per kitco - gold spot price is $633/toz... this equates to approximately a 14k gold of $11.87/gram and 18k of $15.26/gram.

You didn''t mention if you are talking about white or yellow gold. White gold alloys can cost slightly more -- plus are typically finished with the use of rhodium, which is a very pricy metal.

On top of these factors, other factors include gold that is lost during production of the chain (like polishing), and the labor involved in assembling or polishing, etc... These will vary per style of chain.

Whatever your sources are -- the price you are finding for used chains is below today''s spot price of gold. And your new price is also extremely fair for gold.

You should also consider other factors in chains - which include style and quality.

 

[larry321]

given the price of gold do you think it's foolish to be buying gold at all? also, what kind of change would it take in that $633 per troy oz. to start lowering prices considerably? thanks for ur help.