WASHINGTON DIAMOND

Prices per ounce of precious metals gold, platinum, and rhodium have been steadily climbing for over five years, some for longer.  As of today's publication, platinum is currently trading at $1,174 per ounce, hovering near its all time high of $1,190 per ounce.  Similarly gold is trading at $681 per ounce, the highest price in twenty-five years.  Gold's all time high was about $850 per ounce around 1980.  Even rhodium, which is used to electroplate white gold jewelry and platinum, is priced at $4,760 per ounce, a fourteen year high.  The five year low for this metal is $380 per ounce, showing just how volatile the supply and market for this particular metal can be.

Some market analysts predict precious metals will continue their rise this year and gold could possibly surpass its historic high price.  Others predict that a price correction could be right around the corner depending upon economic, monetary, and world political conditions.  Prices have climbed most dramatically in the past twelve months and this rapid price change has begun to impact the jewelry industry.  Consumer demand for fine jewelry has been growing as well, but it is not the main cause for the dramatic rise in prices.

Despite these pressures on our industry, Washington Diamond is committed to offering the best values around.  We have not made any significant price adjustments to our collection, because of rising precious metals prices.  We are willing to wait and see where the market goes in the future before making adjustments to our prices based on precious metal cost.  If anything this news signals it’s a great time to buy jewelry from Washington Diamond, because you’ll receive even greater value for your money.