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enigma
02-07-2016, 09:27 PM
They seem to be awfully high atm!
How does everyone else cope with the fluctuations in their pricing?
It would take me hours to alter prices on my website but its about 3 more per gramme than when I last priced so a big difference :(

CJ57
02-07-2016, 09:52 PM
I'm not sure when it will settle down if at all. Like you I don't know whether to raise my prices now so that I can afford to buy more metal or sell as they are and make less

ps_bond
02-07-2016, 09:54 PM
Have people looked back at the historical charts to see the last time metal prices were at this level?

enigma
02-07-2016, 11:30 PM
Not yet, Ive just got the chart for this year so far.
Its tricky isn't it, I know some people have their website linked to the gold market but don't think I could do that on mine.

enigma
02-07-2016, 11:32 PM
Just checked and it was March 2014!
Mind you it was a lot higher in 2012.

LydiaNiz
03-07-2016, 03:59 PM
They soared the week after the EU vote :-( I had two quotes out for wedding and engagement rings on the Thursday which needed a fair rehash by the Tuesday.

metalsmith
03-07-2016, 08:29 PM
I use bullion vault (https://www.bullionvault.com/) to watch prices and to hedge. I've just sold, at near to the top of the peak last week, so we can be sure prices will go up again now!

enigma
04-07-2016, 12:22 AM
Thats even worse Lydia if you had already quoted!
Very difficult if it rises suddenly like that.
I had to sit up till 2.30 am last night altering all my bangle and cuff prices or I would have actually been making at cost if anybody ordered!

Thanks metalsmith, I think I need to keep a closer eye on it for sure, its just so time consuming to alter all the prices :/

LydiaNiz
04-07-2016, 09:32 AM
waaah, good point, need to adjust my website prices too!

ShinyLauren
05-07-2016, 06:11 PM
My friends have just asked me to quote them to make their wedding rings in 18k gold - I think they're going to cry when I tell them how much it will be, even though I'm only charging them cost of metal.

marna
07-07-2016, 08:21 PM
Silver's gone high high high too. I'm going to need more soon and I don't know whether to get it now, or cross my fingers and wait for a bit.

metalsmith
11-07-2016, 09:09 PM
Silver's gone high high high too. I'm going to need more soon and I don't know whether to get it now, or cross my fingers and wait for a bit.

historical-silver-prices-100-year-chart (http://www.macrotrends.net/1470/historical-silver-prices-100-year-chart)

... and remember to up-date to include the latest figures.

It isn't necessarily the price of silver / gold, but the devaluation of currency. Post-Brexit, the UK is said to be warming up the printing press. Not literally, but preparing to produce greater debt-liquidity.

The one good thing that will come from this is that silver-smithing will be seen to be more valued. At present, rather just past, it was such a cheap metal.

Some friends asked if they could see my work and whilst they liked it one said '925 ... isn't that the cheap stuff you can buy at Argos?'. I like my friends; they speak their minds. :cool:
With increasing prices it will no longer be seen that way.

CJ57
12-07-2016, 12:13 AM
I was just checking the price of gold for keum boo today and it's gone up 20 since I last bought it in Feb. Guess the gallery prices will have to be adjusted:/

theresa
12-07-2016, 07:47 AM
Lovely display Caroline on your FB page. Did you make those pendant displays? Great idea - I need some!
One advantage of bullion prices going up is that your stock is now worth a lot more...time for a re-pricing.

CJ57
12-07-2016, 10:41 AM
Lovely display Caroline on your FB page. Did you make those pendant displays? Great idea - I need some!
One advantage of bullion prices going up is that your stock is now worth a lot more...time for a re-pricing.

Thanks Theresa, it's for a new gallery opening in time for the Pittenweem Arts Festival in Aug. I've not 'done' Pittenweem as its a week and on top of the fees you have to know someone who will rent a venue. The locals make a huge amount of money renting old shops with holes in the floor and garages that you can't even stand up in so this is giving me the opportunity without the slog and the cost.
I bought all my display from https://www.3ddisplays.co.uk/lifts-steps-blocks-c21. It's a bit of an outlay but with care they will last forever.
Not sure about pricing, it's a bit of a worry

FailedAssay
02-09-2016, 10:32 AM
The fluctuations are so large you just have to be prepared to reprice items to reflect gold price. Or if doing wholesale, have a basic price for product and a 'metal fix' price based on current or paid price for metal used.