I last posted about record-high gold prices about two weeks ago. Today gold went up another $25 an ounce to about $990, a new record. Here’s the chart that shows how earlier this decade, gold was under $300 an ounce.
I will give y’all two pieces of jewelry-related advice, free of charge. First, if you have any old jewelry around that you are not planning to wear or redesign, this is an excellent time to sell it. The metal alone is probably worth more than the original retail price of the piece. (This means you, Ms. Tiffany Ring.) The Wall Street Journal has a good article on selling old jewelry. Yes, I expect gold to go past $1000 an ounce but you never know when a correction is going to come, so don’t be greedy.
Second piece of advice: Do NOT ask me, “What’s the highest gold has ever been?” Please! Hobbits! Record high means Record!High!
Okay. Just to be nice, here’s a third piece of advice. If I gave you a quote for a piece of custom jewelry last July, and you passed on it, do NOT ask me for that price now. You had your chance. Seriously, people. I am a donkey on the edge!