How high will it go?

[klavigne]

Platinum is at over $1300 right now, two weeks ago it just broke $1100. How much higher can it go? Gold and Plat are at all time highs, how much does this reflect in the prices of higher end jewelry? It''ll be interesting to see were the precious metals settle at. With the weak dollar it seems like a lot of investors are opting to buy precious metals and commodities right now, will this trend continue or will the US market bounce back?

 

[klavigne]

Plat broke into the $1300 range today on a strong push, it jumped $24 and ounce today alone. It would have been real nice to have bought a few ounces back around Christmas, that upgrade would happen a lot sooner!

 

[mrssalvo]

I don''t know how high it will go but I have already seen price increases in new jewelery since Christmas. A scott kay setting is $500 more than it was 5 months ago.

 

[klavigne]

Is it justified though? Plat. goes up two hundred an ounce and a 5 grams ring goes up $500, thats seems like highway robbery to me!!! Thats a huge price increase.

 

[Rod]

Knowing how high Platinum has gotten makes me darn pleased to have a pretty substantial hunk of platinum around my finger!! I keep working out and losing weight and I was going to have my ring resized, but as my fingers get smaller, I just move the ring to another finger. Where she lands no one knows, but I just don''t want to shed any of that precious metal

!!

 

[mrssalvo]

Date: 5/12/2006 4:24:35 PM
Author: KPL
Is it justified though? Plat. goes up two hundred an ounce and a 5 grams ring goes up $500, thats seems like highway robbery to me!!! Thats a huge price increase.

well, plat was at about $960 at the end of Dec so it''s up $250 an oz. I''m sure many designer''s are raising their prices so retailer "cost" is going up. They must then raise the price a bit more in order to make the same profit they did before plat. went sky high. Just a guess

.

 

[klavigne]

Mrssalvo,
Actually then, it''s up $340 an ounce since X-mas. So thats what, a $12 a gram increase. So then wouldn''t that mean that a 5 gram ring would only go up by $60, give or take. So a $500 increase in a Scott Kay is still a rip off. I can see if it went up say, $150, I wouldn''t complain about that, I understand these people need to eat. But when is it just taking advantage verses fluctuations in the market?

 

[mrssalvo]

I don't know enough facts to argue or really participate in further discussion. My .02, it's a free market here. We're getting screwed by the gas companies who are making record profits. Is is fair? It's debatable, some think so, it's capitolism working others think it's taking advantage of the situation. We can't choose to not by gas, we need it in the USA. But, we can choose to not by jewelery. If someone doesn't like the price increases, they don't have to buy it.

 

[Modified Brilliant]

This whole scenario reminds me of 25 years ago when folks were scrapping beautiful sterling silver tea sets when silver hit $50.00 oz. very briefly. Jewelry stores were scrambling to replace "price" tickets on gold items to "weight only" tickets. It was crazy replenishing inventory as the prices would fluctuate from day to day. As Yogi Berra would say, "It''s deja vu all over again."

www.metrojewelryappraisers.com

 

[movie zombie]

the US dollar is falling in value. i''ve been reading for a long time now that the best and safest investment [or way to hold your $$$ instead of in a bank] is to own metals. look for a continued increase as the US dollar continues to drop in value and be replaced by the euro as the trade standard in much of the world. everything....and i do mean everything....is political.....even the metal in our precious jewelry.

movie zombie

 

[diagem]

Since Diamonds went up in price in the last few years by approx. 40% )(depending on size and quality), if i compare to the metals comodity...

DIAMONDS PRICES STILL HAVE QUITE A LONG WAY TO RISE.

And guess how much a diamond that costs $10,000 today will cost in the near future....