This past Monday saw the largest ever gold price drop. It did start to rise again on Tuesday. This is probably all my fault. I had a piece of 22K gold cast on the previous Wednesday, when gold was $1500 something, and sold all my scrap gold on Monday during the drop at $1390. So of course it went back up.This got me thinking, how significantly does a drop or rise in gold price like that affect the price of a piece of jewelry? A $125 drop makes the price of 14K gold jewelry change approximately $6-$9 a pennyweight. A ring may weigh 1 to 5 pennyweights. The price drop was, however, short lived, so it will have little ...
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