Professional Jeweler Archive: Precious Metals Spike then Decline
Precious Metals & Bench: Data & Statistics
Precious Metals Spike then Decline
Per-ounce commodity prices return to lower range
Gold prices rose as high as $312 per ounce in February then settled in the low $290s. In selling gold, stress its value (note central banks commitment to gold value in mid-1999) as well as good prices (20% below the prices of three years ago).
Platinum prices had the highest price spike in February (up to $555) and remain anywhere from $50 to $100 above last years prices. Increasing demand and a tightening of supply have caused the increase, which is likely to continue this year.
Silver prices rose slightly in February but remain mostly lower than last year. Rising demand for silver in jewelry and other industries is being met with increased production and the promise of even more production to come.
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