The Rising Price of Silver

Have you heard about the ever-rising price of silver? Gold gets a lot of attention, which per ounce is more expensive than silver and is also rising rapidly. However, the percentage increase in the price of silver is much higher than gold. In fact, the price of silver increased over 80% last year while gold’s price increased about 27%. Last year at this time silver was about $18.26 per ounce, and today it’s at $45.95 per ounce.

What does all this mean? Silver jewelry prices are on the rise. Chances are the silver jewelry you already have is worth more today than when you bought it. However, you will also being paying more for the silver jewelry you buy from now on. No matter the size of the jewelry merchant, everyone pays more for silver these days. Being that it is a commodity, there really isn’t room for negotiation.

There is no projection for silver prices to decrease. In fact, all indications point towards prices continuing to rise. That means it’s best to purchase the silver jewelry you are interested in now before the prices go up again.

Here at Something About Silver, we are working hard to keep our prices from increasing too much, but as with every jeweler, we need to keep the lights on! When you do see price increases, know that it reflects the rising price of silver. Hey, you may be paying a little more, but it’s also worth more. Happy shopping!

Have you noticed increasing jewelry prices lately