Gold prices

[enigma]

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]

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]

Have people looked back at the historical charts to see the last time metal prices were at this level?

[enigma]

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]

Just checked and it was March 2014!
Mind you it was a lot higher in 2012.

[LydiaNiz]

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]

I use bullion vault 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]

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]

waaah, good point, need to adjust my website prices too!

[ShinyLauren]

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.