Some Canadian jewelry brands are raising their prices as a surge in demand for gold — incited by investors' fears of a shaky economic outlook — pushes the market for this precious metal to record highs.
With confidence in the U.S. dollar eroding, and uncertainty weighing on the global economy, more investors are looking for a safe place to park their money. So they’ve been buying gold in droves, sending market prices soaring for jewelry makers who might then pass the extra cost to their customers.
“There are certain products that we’ve already had to increase the pricing on,” said Melanie Auld, the Vancouver-based jewelry designer whose eponymous online business makes gold-plated jewelry with a sterling silver base.
Gold prices have surged as high as $4,300 US per troy ounce (the measurement used when weighing precious metals) in recent weeks after years of gradual growth. Auld said s ilver prices are also shooting up — and the combination isn’t sustainable for her business.
“We're seeing both of the
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