Abqjournal jewelers watch every ounce as the prices of silver and gold fluctuate the box

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Recent volatility in precious metals prices has changed things for consumers and producers alike, from metals trading floors in the big financial centers to artisans’ studios in Albuquerque.

While prices were at their peak, consumers jammed retail shops to sell old jewelry, candlesticks and anything made of gold, silver or platinum.

Some silversmiths are changing designs and techniques to reduce metal content and waste usd to. And anyone who makes jewelry is sending every flake of leftover metal to refiners to pick up some extra money.

Albuquerque jewelry designer Ava Yetter thinks now might even be the time to Christmas shop for jewelry since many retailers are buying stock, at today’s metals prices, to sell during the holidays stock connector. Yetter expects prices by then to range from $20 to $40 higher than last year at the low end of the jewelry market and up to $100 to $200 more at the high end.


It’s not a bad time for consumers to get rid of metals either, said Tess Conti of Rocky Mountain Gold & Silver Exchange in Albuquerque hex editor download. Her shop specializes in purchasing old jewelry binary picture. The most attractive pieces are sold at retail or marketed to collectors or auction houses how the futures market works. The not-so-beautiful pieces are sold to refiners for their metal content.

Conti held up a hideous high-karat yellow gold bracelet of clunky, wide links she bought from a man "who had probably held onto it for years." It was worth $3,000 just for its gold content and went to the refiner to be melted down.

Lonnie Kevin Schroeder, owner of Art to Wear in Albuquerque, makes one-of-a-kind pieces to the specifications of individual buyers who sometimes want an old piece of jewelry reworked europe stock market index futures. His business has increased since gold prices started climbing last year.

"Some people see gold as a good investment," Schroeder said msn news canada. Some are buying now to avoid future price increases stock market futures quotes. In general, news about precious metals’ prices reminds people they need to do "something with grandma’s jewelry," so they bring old pieces to Schroeder to be redesigned or used as raw material for a new piece.

Steve Waldeck, president of Waldeck Jewelers Inc., works in an entirely different niche gbp usd etf. Waldeck manufactures large quantities of mostly silver jewelry in 32,000 square feet of space in southeast Albuquerque. His customers resell his products to their own customers, and price matters.

If pricing becomes a problem, he’ll consider making jewelry out of less expensive metals and plating it with silver. He might shift production to costume jewelry and away from silver. "We’re also going to do more in the high end (of the market) where the price of metal isn’t such a factor," Waldeck said.

Silversmiths are making lighter pieces and are trying to minimize the amount of metal they lose to waste, he said. Indian Jewelers Supply will give customers credit for silver scrap they bring in, and at today’s prices, more scrap is coming in, about 50 percent more than a year ago, Guthrie said.

Metals’ prices aren’t the silversmiths’ only problem. Most of Guthrie’s customers are Native Americans, and many of them live in pueblos and on reservations. The cost of fuel consumed to deliver their jewelry, attend markets and buy supplies is hitting Native American artisans hard, Guthrie said.

Global demand is behind silver prices, according to the Silver Institute, which told The Associated Press that demand in 2005 was the highest it had been in five years, even accounting for declining silver consumption in photographic processing. Demand for silver jewelry and silverware in China alone grew 20 percent.

About half of the world’s silver goes to electronics and other industrial uses, but so far manufacturers are not reporting supply-chain problems because of higher gold and silver prices, a spokeswoman for the Institute for Supply Management told the Journal.

Gold prices are a different matter. "People think they should buy gold because the world is coming to an end," Waldeck said. Gold prices climb with worries about the global economy— inflation, higher oil prices, war and a weak dollar among other factors.

That can make gold volatile, and when its price moves, it can move fast. In mid May, gold was about $700 an ounce and a week later it dropped to $650. It was down to $625 June 1 and $570 early last week.

Despite recent declines in silver prices, Schroeder would not be surprised if the price of fine silver goes above $20 an ounce. "It’s being used faster than it’s being mined," he said.

It has been much worse euro pound exchange rate calculator. On Jan. 21, 1980, Guthrie said, the price of silver reached $48 per ounce. "I remember because it was the Monday after Super Bowl."


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