Summary
"I noticed lately the price has been going up," she said, while browsing at Gold Panel jewelry store on 34th Street in New York. "I'll wait, definitely, for the prices to go down" before buying another gold item, she said.
When gold becomes more expensive on futures markets, it doesn't immediately translate into higher prices for jewelry. But in the long term, the price tags on gold rings, bracelets and necklaces do go up. Exactly when the increases from this latest jump will show up on price tags depends at least in part on a retailer's size.Tiffany spokesman Mark L. Aaron said that while there is not a direct correlation between the rising price of gold and the cost of its gold jewelry -- the labor that goes into a piece is an important factor -- Tiffany does adjust prices based on the cost of precious metals. If gold keeps rising, a price increase this year would be a "fair assumption," he said.See the full content of this document
Extract
Gold Soars to New Milestone
Hits $1,000/oz, analysts say it could go up
By Mae Anderson and Lauren ShepherdNEW YORK -- Bargain-hunting at the local jewelry store just got harder.Gold, which has soared to record...See the full content of this document
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