Folksy Ltd

Silver prices

This will be a short thread but are you jewellers reviewing your prices,I just checked cooksongold and it looks to me as though prices are on the upward trend,EU vote? A metre of bearer wire will now cost me 33 quid,you may want to reflect this in your prices when you list or if you need bullion perhaps now is the time before they go sky high,of course it is for you to decide.

And gold too. The prices shot up in the wee hours of Friday morning so it’s definitely a result of the economic uncertainty that has developed in the wake of the referendum outcome.

Spot price of gold is up 12% and silver is up 10%. That’s a massive jump so I expect jewellers will have to increase their prices to compensate as they’re not likely to fall (back to pre-referendum levels) again any time soon.

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Thanks for the prompt, I’ve just checked the price of the silver earring findings I use and they have actually come down quite a chunk since I last did the costings! I don’t think this is a recent thing, its been quite a while since I did the working out and I dare say they will be creeping upwards now but it was a nice surprise :slight_smile: Anyway it has made up for the fact that the glass I use will definitely be increasing in price for entirely non-EU related reasons…

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I’ve already checked the prices for un-worked metal but don’t intend to increase my own prices just yet. The smart move is to hold off buying new precious metals for as long as possible just in case things stabilize quickly. The scrap you have in your stash is well worth using now if you possibly can.

Sam x