We are all feeling these astronomical gold prices. It's amazing how fast even the littlest amount of gold brings the price of any handmade custom designed jewelry through the roof. It's hard for jewelers who have to spend a fortune on keeping inventories up, as well as the consumer, who make feel like they are getting taken.
The question many of us ask is how long it's going to stay at the current level. I wish we had a crystal ball, but with the state of the world economy it doesn't look like its moving down any time soon.
Here is an article from JCK, an jewelry industry publication:
But analysts don't see the price rising forever.
With gold prices settling at over $1,300 two days in a row, investors are saying that price level may be here to stay.
“The longer gold can hold that level that stronger this new range becomes,” wrotethestreet.com.
The site quoted an analyst as saying “investor sentiment remains very positive towards gold.”
The gold price hit $1317 this morning, a new record, though it soon slid to $1307.
Analysts said that “marco-economic uncertainty” is driving the current upward push. And yet most forecasters don’t see the price of gold rising forever.
Industry analysts, meeting at a professional conference in Germany, declared that the gold price will mostly hold steady over the next year.
And another analyst told the Telegraph, “Historically gold has not always been the safe haven it is portrayed to be today and there is every possibility that the price will fall, especially if we start to see real signs of a global economic recovery.
Meanwhile, you can save your wallet by repairing or cleaning up your existing jewelry collection, or shopping for estate pieces. Silver is another option, though even that is high at the moment.
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