Diehl's Jewelers
201 Strykers Road, Suite# 19-322 • Phillipsburg, NJ 08865 • Kris@DiehlsJewelers.com

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Friday, April 19, 2013
Gold Price Drops
Gold Price Drops 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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AT: 04/19/2013 01:40:01 PM   0 COMMENTS