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!
The Maiden Metallurgist says
Those gold prices means it’s a good time to be a metallurgist.
Soooo…. are you going to tell us what’s the highest gold has ever been or not?
I kid, but i was wondering if you will keep the prices you quoted say in September?
hahaha, that donkey picture really made me laugh!
I love the word metallurgist. Oh and the graph on your blog totally freaked me out…no scary econ. please….
Megan…hmm…maybe for very special friends!!!
That Wall Street Journal article was very interesting. Your new designs have been gorgeous!
Just last week I heard a man on the bus talking about the price of gold and platinum with another passenger. He couldn’t believe what was happening and related it to what he’s seen over the years that he’s sold jewelry. I thought of you and your posts about the prices. It seems so unreal what we humans put upon things, doesn’t it? The value, the price, the cost. Is it greed that does it, do you think?
By the way, I like the going-out-to-dinner look and the all-dolled-up doggies!
Thank you BP! I heart you and hope you are feeling well.
Lynette, I’m hoping the gold bubble will burst soon! The crazy thing is that people who fear the apocalypse is on its way tend to buy gold as a safety measure. But my feeling is, if God forbid the apocalypse comes, who the hell is going to be able to buy your gold? You’ll be trading an ounce of gold for three peas and a string bean. That won’t keep you long!
Practically Perfect In Every Way says
thank you so much for the advise. i just shot off some emails to friends that i know have old wedding rings and other jewelry sitting around. i contacted u.s. gold buyers and am expecting my packet for 2 penny weights of gold!
I told my mom a while ago that she should sell her “havent been used in decades” gold peices. She says they’re sentimental. I say $$$$.
I think I may have to steal some of them to sell.
I’ve been telling dear old mom to NEVER sell anything now or I’ll never go back to her place haha! Greedy me, she’d better hand them down to me!
Lynn, if you love a piece and/or it’s got sentimental value, I would never suggest selling it! Tell mom to listen to me. Speaking of sentimental things, I do re-set a lot of stones in new designs for people, so they still have the stone that has meaning to them, but in a look that’s more appealing for them now.
Right on, girl! I’ll make her listen, trust me. Her pieces are all adorable and memnto enough to keep. And that re-setting idea is brilliant, thanks!
This scares me!My brother is getting married in May and that means lots of gold shopping!My poor mom!
The Necklace Paris was wearing was in the picture of her with the shaman,she is wearing a cream color dress
PS:Frasier wants to know why Henry is wearing bows!Does he need to have a chat with the groomers?
Yesterday I got an email from a jewelry website that I’ve bought 18K rings from in the past. When the site first started up about 2-3 years ago, I paid $250 for an 18K yellow gold, emerald and diamond ring. I bought three more after that, and the last price I paid was $450 for a gold & sapphire ring. I could not believe my eyes when I saw the prices on there today! Wow!