[Jewelry making - Article 00298] - Re: [Orchid] Rising Costs Of Precious Metals

[Greg DeMark]

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John,

    Yes it is possible that gold can hit $950.00 per ounce but the real
    question is will it? I don't think that Mr. Schultz or anyone else
    knows for sure. If this was a guaranteed thing you would not even
    know of Mr. Schultz until after the event since he would be spending
    all his time amassing stock piles of gold and gold futures and not
    spending his time trying to convince others that it will happen. 

    The precious metals had been at multi year lows for a long time and
    are due for some speculation by investors. This will most likely for
    a time keep these metals at these levels or higher. How high is any
    ones guess and it is only a guess. Investors in India, China, Japan,
    Europe as well as America drive the price of these commodities based
    on demand and speculation. If a frenzy happens the price will
    increase dramatically, if not than eventually they will all move on
    to something else to invest in, hype and then dump on the
    unsuspecting novice investors. 

    As I had mentioned in a comment recently, I was in the jewelry
    business during the last run up. I was young and under financed but
    it was the rise in precious metals that helped me instead of hurting
    my business. Once these metals start getting into the news stories on
    a regular basis, people will start becoming more aware of the rising
    prices and for some unknown reason will start buying bullion, coins
    and jewelry as investments. If history is any indicator, when
    everyone starts talking about an investment that is when the smart
    investors start getting out of the investment so watch for that sign. 

    As for Sterling and Platinum, yes they will most likely rise as well
    but keep in mind that over the past few years they have risen
    percentage wise more than gold so either they will slow a little or
    gold may increase more. This is a time to get your business in order.
    Take the time now at the beginning of the new year to lay out a plan
    for the coming year for your business. Determine what materials you
    will need and buy them when you will need them and not all at once.
    If you speculate on a rising price and it falls you will be stuck
    with over priced materials so only buy what you need when you need
    it. 

    It will also be a good time to get all the items that have not sold
    over the past year together along with your scrap and bench sweeps
    and send them in to a refiner for cash, credit or metals. 

    There is also a great opportunity in taking trade ins as well as
    using your clients materials to create a new piece for them. 

    As the old song went." Don't worry, Be happy" should be your theme
    if this market keeps going up 

Happy New Year,
Greg DeMark
email: greg AT demarkjewelry.com
Website: http://www.demarkjewelry.com
Custom Jewelry - Handmade Jewelry - Antique Jewelry

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