Precious Metals Begin 1999 Lower

April 1999

Precious Metals:Data & Statistics

Precious Metals Begin 1999 Lower

Take advantage of the price breaks, but don't try to compete with volume retailers

Precious metal prices slid lower overall last year. It wasn't good news for mining companies, many of which face escalating costs and aging mines. But it does create an interesting situation for jewelers who can count on their long-term suppliers to pass along savings in return for steady orders. Here's a look at each of the precious metals.

Gold
Gold prices rested in the $280s per ounce in the first weeks of 1999, about $10 less than the same period of 1998. Blame the glut of gold on the market. You can take advantage by deciding not to compete with discount and department store jewelry counters. Stock high-karat, high-style gold in different colors, textures and designs than you see in volume stores.
The 1998 numbers: high of $313.15, low of $273.40.

Silver
Silver started 1999 a few dollars per ounce below the levels of early 1998, and nothing indicates any upward pressure on prices this year. That – along with the interest in white metal – makes this a good time to add or boost your sterling stock. Check out designer and higher-end manufacturer lines.
The 1998 numbers: high of $7.28, low of $4.72.

Platinum
The noble metal traded $5 per ounce below the same period of early 1998, joining the downward trend after flirting with $400 in 1998. Expect little change this year.
The numbers: $429 high, $334.25 low.

 



Copyright © 1999 by Bond Communications.


 

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