Economic downturn vs price of gold.

Aiel

Ok,appologies if this topic has been covered in another thread but i didnt see it.As i understand it the worse an economy gets the higher the price of gold becomes yes?Basically my fiance and i are buying are our wedding rings and the lady in the jeweller said the price goes up or down depending on the price of gold.She said we could put a deposit down on a ring now to get it at today's prices as if we wait a few months the price of gold might be higher and thus the price of the rings will get dearer.So my main qs is what are the indicators saying about the economy for the next few months?Will the situation get worse and thus the price of gold get higher or will it improve the price go down?Any help appreciated.

andrew

Did the jeweler say exactly how much the price of the ring will change in accordance with the price of gold? As in, if the price of gold fell by $100, how would the cost of the ring change? I ask because, though i know nothing about the market for gold (even though as you correctly point out, it's correlated with the general state of the world economy), it might not be worth your while waiting to see if the price of gold changes. If it would take a massive swing in the price of gold to change the price of the ring significantly, then there's no point waiting; massive changes in price tend to be quite rare. On the other hand, if the price of the ring is very sensitive to the price of gold, then obviously it could be worth your while.

Perhaps you could ask your jeweler for the maximum/minimum price which the ring could end up going for. It might that the jeweller is just using the price of gold as an excuse to alter the price of the ring at a future date depending on what they think you'll pay. Heck, maybe the jeweler probably has all the gold they'll need for the next few months bought already, so why would the price of gold now matter?

Chazz Michael Michaels

Aiel wrote: »

Ok,appologies if this topic has been covered in another thread but i didnt see it.As i understand it the worse an economy gets the higher the price of gold becomes yes?Basically my fiance and i are buying are our wedding rings and the lady in the jeweller said the price goes up or down depending on the price of gold.She said we could put a deposit down on a ring now to get it at today's prices as if we wait a few months the price of gold might be higher and thus the price of the rings will get dearer.So my main qs is what are the indicators saying about the economy for the next few months?Will the situation get worse and thus the price of gold get higher or will it improve the price go down?Any help appreciated.

Have you considered going to Europe to buy? They are much cheaper there, apparently. I think there is some kind of wedding forum here with a thread devoted to this topic.

Capt'n Midnight

find out how much gold is in the ring / what index the jeweller will use.

http://www.xe.com/currency/eur-euro?c=XAU
€1312.10/ounce

if it's a 6gram 18 carat ring then only 4 grams of gold , less than 1/7th of an ounce so less than €200 of gold at todays price and if gold goes up by 50% then it would be another €100 bigger , better rings will have more gold - and it's all academic because the rate you pay is determined by the jeweller so check with them


also it's a way to lock you in with a deposit



also rings wear out
http://www.guardian.co.uk/education/2012/jun/11/gold-wedding-rings-trail-marital-disintegration

Niamh Allan

There is less benefit in investment in gold.

josealdo

Go to turkey . Cheap Rings