Peter- Stone prices have risen. Especially diamond melle prices.
However they do not correlate to metals prices. Each market has
Gold and silver are traded commodities and rise and fall not because
of supply and demand, but by fear and market instability. Platinum
rose but not as much because it’s still priced more by supply and
Stone prices are driven by a number of factors. Rarity is first.
Good rubies are very scarce. The embargo on Burma makes the price
even higher for fine Burmese rubies. Things are dicy in several
African countries so their stones get more expensive as it becomes
dangerous to work there.
Emerald prices took off decades ago when the Columbian Cocaine
cartels were fighting it out. No one was willing to go there to buy.
Fashion is another driver of stone prices. It’s always changing.
Green was this year’s color. I remember when you couldn’t give away a
colored diamond. Let alone a black one.
Diamonds are priced by DeBeers. Thought they are not as much in
control as they used to be they still wield a mighty hammer when it
comes to prices.
These are the reasons that I keep very current on international
political news and economic developments. I like to read Google News
to get an international spin on the news. If I see a coup coming in a
country that I want stones from, I buy before things get nasty. There
has been a strike at a big platinum mine in Africa, so plat prices
rose recently. This is stuff you just don’t get from American TV or
print news. If the Fed makes policy changes I want to be positioned
to buy or sell metals or take out a loan with a locked interest rate.
All this said, I do not have a PHD in Economics. I have a GED. I’m a
crack pot jeweler. Do not take this as sound investing advice.
Have fun and make lots of jewelry.