If metal price go down, then what happen?

[Moko]

Hi all,

I am just wondering...
In the past 10 years, metal price went up so high, especially platinum.
Every　time I ask for the price of a ring I want at a jewelry store, they have to look up the current platinum market price.

If platinum price goes down, is there possibility for the ring price go down as well?
Or they usually keep the same price.

 

[oldminer]

The price is partly the meal, partly the labor, and partly the profit. The metal cost definitely plays a part in asking prices. COmpetition will dictate the price adjustments sources will make if the metal costs go back to lower levels and stay there long enough to let everyone decide there is some stability in the cost range. Meanwhile we see the cost of living rising. Expect labor costs to rise and not go back down. Profits have been in a squeeze for some time. If any opportunity exists to make a bit more many will feel obligated to try to get a higher selling price while they can. It isn''t so smple and what metal alone costs.

 

[Moko]

Hi David, thank you for your explanation. I understand better now.

Recently I finally finished my lay-away for my new platinum e-ring with diamond. The current price on the same setting is about $800 higher than what I paid. (I placed the order last year). A matching wedding band is the next item in my list. I was going to take a time this time, but I feel a pressure these days that I should not wait, place an order ASAP.. My jeweler tells me that they cannot guarantee the price will stay the same because of the rapid metal price increase. The exact same platinum wedding band cost almost $1000 higher than last year’s price

. The price is going up much faster than I save money

.

I have a friend who has been investing in metal. He thinks metal price may drop after the new administration starts. If interest rate gets higher then US$ become strong, then maybe metal price may go down, he said.. I was hoping that maybe I could wait …..But, but if the jewelry price will stay the same or even go higher due to the cost of labor, etc. Maybe it is wise to buy it as soon as we can? I know I should have done it 5 years ago…