Tuesday, February 1, 2011

The Rising Price Of Silver

Last year, the price of silver climbed from $15 to $30.  For the month of January 2011, it has been hovering between $28 - $31 USD per troy oz.

Even with the price doubling in 2010, industry analysts are predicting silver will be much higher by the end of 2011. How much higher? Nobody knows for sure, but there are several educated guesses and conspiracy theories in the news.  The predictions range anywhere from to $50 - $250 per oz.

The price increase is good for investors but bad for jewelry vendors.  Consumers still expect to get silver jewelry for last year's prices.  For retailers and vendors to remain profitable, however, the price to consumers must rise to meet our current cost. 

We are already feeling the pain of the increase in sliver prices.  Our recent acquisitions cost significantly more than we were able to buy the same items for last year.  The new Tree of Life pendants are a classic example.

These pendants will be now selling for $29.50, while supplies last.  By autumn, when our stock will need to be replenished, we will no longer be able to offer them at this amazing price.  No, I did not take this photo myself.  I'm still working on improving my skills in the photography department. 

1 comment:

  1. It sucks everything is going up in price. For all of us.. how come our bosses never seem to get our salary needs to go up.