The Rising Cost Of Gold?

Discussion in 'Planning your Wedding' started by Helen, Jan 6, 2011.

  1. Helen

    Helen

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    Hi ladies.

    Yesterday I went to look at the wedding ring I had chosen a couple of months back. It is 18c white gold, 3mm band with a wave to fit under my engagement ring, pretty simple and standard I thought and I was intending to have it hand engraved with maple leaves (as we are getting married in Canada) if it wasn't too expensive to do so. Anyways the lady in the shop said that the price would have changed since I first looked at the ring (plain as being sent somewhere else to be engraved) due to the rising gold price and the vat increase. Fair enough but then she told me how much it was and I nearly had heart failure! The plain band was nearly £700! I am sure it was nowhere near this when I first looked or I wouldn't have gone back.

    I just wanted to ask if the price of gold is really rising by the percentage they seem to be saying? I am going to look elsewhere now as there is no way we are paying that much for a plain gold band. 3 years ago I bought a 18c white gold 3mm band (straight with no wave) and it was £100, has the price really gone up that dramatically? Does having the wave add that much to the cost of making it? Just wanted some opinions/your experiences please?

    On the plus side the hand engraving has been quoted to be between £40-£80 depending what I have on it so that was a lot cheaper than I thought it would be.
     
    Helen, Jan 6, 2011
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  2. Helen

    FlowerCo

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    Hi There,

    There was a thing on rouge traders last night saying the cost of 9ct had gone from something like £1.40 and grm to £7.50 a grm! and thats just 9ct!

    scary scary

    Zoe x
     
    FlowerCo, Jan 6, 2011
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  3. Helen

    Becky Administrator

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    It has been steadily rising over recent years, but no sharp rises as far as I am aware... here's a graph of the price over the past year:

    [​IMG]

    The price of gold has only increased a few percent in the past few months, so if the £700 is a substantial increase that does sound odd!!
     
    Becky, Jan 6, 2011
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  4. Helen

    muckypaws

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    I'm not a big fan of yellow gold and after speaking to a friend before Xmas about gold costs (she was saying how expensive her engagement ring was compared to prices last yr) I looked through my jewel case and found a few bits, two pairs of studs, steves broken chain, an old necklace and a pair of hidious earings an ex bought me. All useless. Took them to local jewellers and got ..... £269 !!!! I nearly fell over! I felt a bit silly going in but soon got over it lol
     
    muckypaws, Jan 7, 2011
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  5. Helen

    poppleminster

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    I did something similar with an old ring. A really lovely diamond in a naff over-the-top setting and I only like simple things. I took it to the jewellers and they charged me £64 to turn it into a pendant and then gave me back £34 for the left over gold from the ring. I was gobsmacked. Would have had it done years earlier if i'd know it'd be that cheap to change and the gold worth so much against it.
     
    poppleminster, Jan 7, 2011
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  6. Helen

    FlowerCo

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    He he! thats fantastic! gonna go hunt thru my jewelery box!
     
    FlowerCo, Jan 7, 2011
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  7. Helen

    Frogbitch

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    I keep meaning to sell the engagement ring from my first marriage. It's been in my purse for weeks.
    There was a thing on Watchdog the other night about companies that buy gold online. They apparently offer much less than high street outlets, and it's not illegal.
     
    Frogbitch, Jan 7, 2011
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  8. Helen

    poppleminster

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    Those places are a right rip off. Your best bet is to find an independent jeweller not a chain, they offer much better prices :(
     
    poppleminster, Jan 8, 2011
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