Jewelry prices don't take same dive as gold - Wandtv.com, NewsCenter17, StormCenter17, Central Illinois News-

Jewelry prices don't take same dive as gold

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The price of gold has gone down but the price of gold jewelry may still be up. Just last week the price of the precious metal's price plunged more than $200 an ounce.

Doris Keane of Keane Creations works with gold-filled wire, a cheaper option than pure gold, so when she heard the price of the precious metal dropped, it was good news.

"I'd like to see it drop even more," she said.

Because those costs directly affect her business.

"When it's up I have to raise my prices and that does affect my sales," she explained.

And when the price is down, customers may not see a lower price tag right away.

"I base my price on the price of the market at the time I buy it," she said.

Right now, though, gold's hefty price tag has some customers choosing other metals.

"Since gold is very expensive a lot of people have been going to silver," said Roy Hurlburt owner of Roy Hurlburt's Minerals.

Or if a consumer still want that expensive look without the price?

"They have gold over the sterling silver because that makes it more reasonable to, uh, purchase," Hurlburt said.

Like a vermeil ring, for example. Hurlburt had one priced at $26.50.  If it were made of all gold, the price would be at least ten times that.

So next time you're browsing the counter, vermeil, silver or gold may be your winning metal.

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