Has Prices Of Gold Affected Sales Of Men's Gold Wedding Rings?
As the owner of an online store that specializes in selling mens rings
, Im often asked about the price of gold and whether I think the current bubble is going to burst. To be honest, I wish I had a crystal ball that would predict the viability of gold as an investment, but Im more familiar with the metal as it pertains to mens gold wedding rings. A lot of people ask me about how gold prices impact the value of mens gold wedding rings, and Im tempted to ask them if they plan on selling it or wearing it. But I can see why gold buyers would be concerned about prices. In this economy, no one wants to spend more than they have to on a ring, and with so many affordable alternative metals available it can be tempting to skip the gold ring.When gold began to rise dramatically, I was worried that rising prices on mens gold wedding rings would deter people from buying them, but just the opposite is true. The average wedding ring buyer is just as entranced by gold as ever, maybe even more so now that its value has increased. Sure, there are those customers who say they dont want to pay inflated prices for a gold ring, but they usually change their opinion when I share some facts about gold.
In a recent article that appeared in the San Francisco Chronicle, Is All That Glitters Gold? the author compares the current gold bubble to other periods in recent history. For all those who believe the rise in gold prices is based on pure speculation, I like to point out the following facts:
Despite rising gold prices, gold is still well under its inflation-adjusted high from January 1980, which would be about $2,400 per troy ounce today. Many believe this means gold still has plenty of room to run.
If the monetary policy of the Federal Reserve, known as quantitative easing (aka printing money) continues, it is likely to cause long-term inflation and higher prices for commodities, thereby keeping gold prices higher.
Unlike cash and other assets, the supply of gold is still limited. In keeping with the theory of supply and demand, this means that as long as there is demand the price will remain high.
How does all of this information about gold prices affect a customers decision to buy mens gold wedding rings? The truth is, it doesnt. Ive found that if a customer really wants to wear a gold ring, he will buy one. However, it helps to have some background information to put a customers fears to rest and help him understand what hes buying.
While gold is used in ornamentation, jewelry, and some industrial purposes, the majority of current demand has been driven by mutual funds, individual investors, central banks and governments. These investors don't really need to buy gold, at least not in the same way as a jewelry buyer does, but they see it as a hedge against inflation; more like an insurance policy against short-term financial losses. Gold has been the universal symbol of wealth since the dawn of civilization and there's no reason to believe this will ever change.
Theres a reason why mens gold wedding rings have been so popular for such a long time - they remain the epitome of style and represent a longstanding tradition in wedding jewelry.
Susan Peiffer:
[emailprotected]
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