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Gold and platinum price decline impact on setting cost

Owies Nana

Shiny_Rock
Joined
May 16, 2010
Messages
398
With the current decline and flatline in gold and platinum prices from their historical highs, at what point should the savings show up in the custom settings market?

Thanks.
 

Phoenix

Ideal_Rock
Premium
Joined
Oct 5, 2006
Messages
9,364
I'd like to see the answer to this Q too. So far, I've not seen any. What's interesting is that while spot platinum price is lower than that of gold, some vendors still charge more for their platinum settings vs the gold ones.
 

mrs jam

Brilliant_Rock
Joined
Jun 24, 2004
Messages
686
I don't know about metal prices, but I was excited and surprised to get a message in my Blue Nile shopping cart that the price of the 2.32 ct diamond I had placed in my cart had been lowered!
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
56,125
My understanding with the handmade settings, the majority of the cost is in the labor. Yes, increases in metals prices gives an excuse to raise setting prices, apparently, but I have yet to notice price declines in settings, especially platinum.
 

aviastar

Brilliant_Rock
Joined
Oct 5, 2010
Messages
1,190
Unless there is a much bigger gap in the price of gold and platinum, platinum settings will be more expensive than gold settings for two reasons:

1) platinum is denser to begin with, so an ounce of platinum doesn't go as far as an ounce of gold
2) 18K gold is 75% pure and platinum is either 90% or 95% pure

So even though platinum is less per pure ounce, you need way more ounces to make a setting in platinum than in gold, so it works out to be more expensive.
 
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