Have you bought gold jewelry lately?

If so, you know how high the finished gold jewelry prices are. The reason why gold jewelry is so expensive is gold prices were at historic high few months ago. The ascent of gold prices started in 2001 and hit a peak price of $1,923 a troy ounce in 2011. But it appears that the table is turning. Gold related stock prices at the New York Stock Exchange are going down recently. This means that gold jewelry prices will go down soon.

India is the world’s largest gold consumer. When the prices were high most Indians sold their gold jewelry back making a profit. Now they are back again buying gold at cheaper prices. Experts expect to see further price reductions in gold which will lead to reduce gold jewelry prices. But reduction in gold prices does not correlate with gold jewelry prices and therefore, jewelry prices will go down ever so slowly. So don’t expect your jeweler to sell his gold jewelry at bargain prices. It is not a perishable commodity. But price reduction will help to inspire new gold jewelry styles and that is a good thing for the fashion conscious customers. Wait for few months before you buy new gold jewelry.