Home / Jewelry Making Articles / Watching the Precious Metals Market

Watching the Precious Metals Market

by Judy Ellis
Precious metal prices this year have been a bit turbulent as they've gone high and low and then extra high, record high to be exact. If you compare gold prices now to a couple of years ago you'll find that they're still incredibly inflated. The good news? Prices are lower now than they were just a few short months ago, and have remained fairly steady for about the last month. At close of markets on Friday, December 16th, gold was at $1599.20 per troy ounce. Even silver, which skyrocketed last spring to nearly $50 per ounce, has come back down in cost and remained constant the last few months. On Friday, December 16th the cost of silver was just $29.74 per troy ounce.
Many factors set precious metals' costs beyond supply and demand.

Global economics like U.S. recovery and EU fluctuations impact dollar/euro values, affecting prices.

U.S. fiscal disputes, credit downgrades, EU struggles fuel market instability.

Future elections and recoveries remain uncertain.

Best move: Stock up on metal wire and findings while prices stay low!
Jewelry trends shift with demand for metals, beads, and styles.

Gold dipped in popularity this year due to high costs.

Like fashion's flannel surge for affordability, silver, Argentium, silver-filled, and copper dominate now.

Stylish and accessible for most customers.
Another metal that's hot right now is copper.

Yes, copper. This may be surprising, but there are so many ways to work with copper that will make you fall in love.

You can put liver of sulfur on your copper and give it a lovely patina finish.

This is huge in the fashion world and we've seen a lot of it locally, too.
Precious metal prices change frequently to match market shifts fairly.

Silver or gold plunges mean you get the best deals.

Gold filled, Argentium, sterling silver, silver-filled wire prices vary weekly.

Incredible stock available stock up now while prices stay low.

Gold Club members save an extra 25%!
Buy silver wire low? Base selling price on replacement cost if prices rise.

Selling below restock price hurts your business long-term.

Always track costs and profit margins for precious metal jewelry pricing.

Materials

Wire
Shop Now
Sheet
Shop Now
Add All Items to Cart

Tools

WireJewelry - Ultimate Wire-Pliers Jewelry Pliers with Case, Set of 5
G15-20
  • G15-20
  • Lesson Quantity: 1.00 pieces
  • Purchase Quantity: 1.00 each
  • Price: $170.72
  • Gold Club Price: $128.04
Add to Bag
Bench tools
Shop Now
Add All Items to Cart
  • Category: Selling
  • Technique(s): Selling

Reviews

Login to post a Review
Login to be the first to review this Article!