Gems and jewellery price rises - what's the future?

[T L]

Gold prices are nuts now! Diamonds from
Russia are being banned. One of Russia’s largest exports are gemstones, especially diamonds. Therefore supply, and the pandemic, really affected things. Not to mention oil prices (important for mining and shipping).

I’ve personally taken up silver and 10k gold as a result to the ever increasing gold prices. This is over a decade in the making though, not just now. I’ve been witness to gold going from $350/oz when I bought a lot, to now around &1900/oz!! I do think platinum is wildly undervalued as a metal, but jewelers still upcharge for it because it’s harder to work with and only comes in only purer alloys. It’s also still perceived to have a higher value than gold, so jewelers just charge even more.

The last gemshow I was at was pitiful in terms of selection.

 

[Garry H (Cut Nut)]

The problem is the rich are getting richer.
That means prices will only continue to go up!

 

[fredflintstone]

It may be so, but I wouldn't usually expect an auction jewellery or gemstone item to sell at the same price as a store, given that the set up is different. Auction sales are final, you can't necessarily see the item/try it on unless you are able to travel there, there's no money back guarantee and with gemstones, unless it comes with a cert, treatment is unknown and items are sold 'as seen'.

Used to sale retail for years too, before I went on my own.

 

[begoso]

More people, more demand. More exposure to colored gemstones, more demand. Inflation is rising everywhere, higher prices.

With that said, there are several gemstones that have risen 500% to 1500% in the last 20 years or so. Most gemstones always rise in price from the source dealers. Part of this is due to the advent of the internet. They can see what western dealers are selling their stones for. They want that piece of the pie too.

There will always be people who can afford to buy gemstones and unfortunately ones that cannot or will have to settle for smaller stones or stones of lesser quality.

Been that way for years the best jewelry sites. Don’t see it changing.

in future. I think we are not able to buy these things.

 

[JewelledEscalators]

Seriously, I wish the price of gold will go down.