Wednesday, 14th December 2005 (4032 views)

Christmas shoppers intending to buy loved ones a sparkly gift are advised to hurry before gold jewellery prices shoot up.

Despite the recent run in the price of gold, many jewellers are still selling stock purchased at lower prices.

But to avoid paying more, jewellery hunters should head to the high street now, experts assert.

One Wisconsin-based jeweller predicted consumers will begin to feel the pinch of rising gold prices in the New Year.

"It will probably not have a major effect on our business immediately, but as we're looking at Valentine's, it's definitely going to have a (negative) effect," Goodman's Jewellers' John Hayes told the Wisconsin State Journal.

"We're starting to see people who are aware of how prices have changed."

The price of gold did drop back slightly to $521 an ounce yesterday (December 13th).

But that could be no more than a short-term blip, with commentators already talking of the $550 mark.

Of course, the cost of spot gold has to be reflected on the high street and Goodman's says a gold ring priced at $680 would have to be bumped up to $850 if ordered at today's prices.

 

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