Dumb question... did platinum plummet?

[Nocturnius]

I''ve been looking around at various jewelers and jewelry stores, and it seems the platinum prices took a dive... but gold didn''t.

Is it just my area here, or did platinum prices suddenly plummet everywhere?

 

[neatfreak]

Yes platinum has gone down quite a bit.

 

[Imdanny]

platinum and gold are about the same price now- how strange! Platinum is as low as it was in '93.

 

[frillylace]

Interesting! Although, I have to say most stores in my area seem to keep the same prices on everything no matter what the metals are doing. I wonder why that is. Maybe just the new stuff gets priced at the current level?

 

[neatfreak]

Date: 12/9/2008 10:54:32 AM
Author: frillylace
Interesting! Although, I have to say most stores in my area seem to keep the same prices on everything no matter what the metals are doing. I wonder why that is. Maybe just the new stuff gets priced at the current level?

Right. Since they paid more for the other stuff, they try to sell it at the old price to recoup their $.

 

[Dreamgirl]

Date: 12/9/2008 3:45:21 AM
Author: Imdanny
platinum and gold are about the same price now- how strange! Platinum is as low as it was in ''93.

Wow! That is amazing. I wonder when it will go back up and by how much. More than it was before? Or still less I wonder.

 

[neatfreak]

Date: 12/9/2008 11:15:27 AM
Author: Dreamgirl

Date: 12/9/2008 3:45:21 AM

Author: Imdanny

platinum and gold are about the same price now- how strange! Platinum is as low as it was in ''93.

Wow! That is amazing. I wonder when it will go back up and by how much. More than it was before? Or still less I wonder.

I think it''ll be a long while before we see prices as high as we did before...

 

[cayce]

What happened was that I had my ring reset from white gold to platinum -- while my ring was being made, platinum was at an all time high, now that I own it, the ring is worth several thousand dollars less than I paid for it

 

[westjenn]

I''m pretty sure that the value of Plat will always be higher than WG so I wouldn''t worry.

 

[neatfreak]

Date: 12/9/2008 11:45:20 AM
Author: cayce
What happened was that I had my ring reset from white gold to platinum -- while my ring was being made, platinum was at an all time high, now that I own it, the ring is worth several thousand dollars less than I paid for it

Unfortunately the ring was worth a lot less the moment it was made into a ring...and then reduced again once it was worn. So I would just wear it and enjoy!

 

[T L]

I think for the first time it''s about the same price as gold!! However, I''m sure jewelers will still charge a much higher premium for platinum anyways.

 

[stone-cold11]

well, plat has twice the density of gold and usually at 95% alloy compared to gold at 75% or lower, so more weight of Pt is needed for the same ring, so more $$.

 

[oldmancoyote]

Also remember that the metal value of a ring is low since the weight is low. Even with platinum at its peak, it would have been a pretty uncommon ring that had more than $1000 worth of metal in it. The rest is labour, energy, overheads and profit.