price of gold

[Kitten35]

Has the price of gold recently dropped, or is it just me?

 

[Lady_Disdain]

It depends on the time frame you are looking at - it is lower than it was in September bu still higher than earlier in the year (around may or so).

 

[VapidLapid]

 

[kee07]

gold price is too difficult to predict
too many gamblers in the market

 

[minousbijoux]

VL: I'm so glad you're back to posting lately, and thanks for the handy dandy chart

 

[JewelFreak]

Depressing when it was close to a third of its present price only 4 yrs ago. Futures traders predict $2000/oz by 2013 -- may be even higher if the economy slides as much as it's going to.

 

[innerkitten]

If it has then it might be a good day to buy a stock setting

 

[chrono]

If it has then it might be a good day to buy a stock setting

I wish it works that way but it doesn't. It is like watching the gas price at the pump. When the news says the barrel price is up, the gas stations jack it up the very next hour. When the news says the barrel price is down, we don't see the drop until a week later. Settings seem to be the same way. Jewellers will say gold price is up, so they have to charge more. But when the gold price is down, they'll say they bought the setting at the higher price, so they cannot give you the discount.

 

[JewelFreak]

Yup, that's the racket. Painful.

 

[innerkitten]

If it has then it might be a good day to buy a stock setting

I wish it works that way but it doesn't. It is like watching the gas price at the pump. When the news says the barrel price is up, the gas stations jack it up the very next hour. When the news says the barrel price is down, we don't see the drop until a week later. Settings seem to be the same way. Jewellers will say gold price is up, so they have to charge more. But when the gold price is down, they'll say they bought the setting at the higher price, so they cannot give you the discount.

Yeah. I think that's pretty true. The reason I thought of it was because the last time gold dipped I had been checking out the prices of casting grain and I noticed it had gotten a little lower for a day or two based on the price of gold.

 

[Lee Little]

Funny when we thought that $800 peak was a great price to sell at.
My buddy bought gold long after that at $700 and I thought he was gambling like a mad man. Now at 1700, maybe I should buy more? Probably. Best regards, Lee

 

[minousbijoux]

If it has then it might be a good day to buy a stock setting

I wish it works that way but it doesn't. It is like watching the gas price at the pump. When the news says the barrel price is up, the gas stations jack it up the very next hour. When the news says the barrel price is down, we don't see the drop until a week later. Settings seem to be the same way. Jewellers will say gold price is up, so they have to charge more. But when the gold price is down, they'll say they bought the setting at the higher price, so they cannot give you the discount.

Known in economics as "the ratchet effect"

 

[Lee Little]

Here in Thailand the reaction on silver price fluctuations can also work to ones advantage as the dealer I sometimes buy from sells according to the price he paid, period. In this case even though sometimes the world market price has climbed considerably he still sells his stock based on his purchase price. It works against me when the spot price drops and he still has plenty of stock he bought at the high price, in that case I usually buy from another source. Best regards, Lee