Aug 11, 2011 8:01 pm
Some might think that with the price of gold soaring and the amount of economic angst in the markets that actual sale of gold jewelry would be suffering, but it is starting to appear like that might be wrong. Recent reports from dealerships and gold refineries in New York and New Jersey seem to suggest that while people are still selling out of date and unfashionable pieces they are still being asked to make and design new pieces for buyers.
This is because gold is always desirable and while the markets may be rattled people with wealth are not feeling particularly compelled to hide that fact. Entertainers and artists stills seem content to "floss" for the camera as the popular lingo goes. You rarely see the cast of the Jersey Shore or Kanye West without some sort of jewelry and that is because for them culturally decadence is what the public expects. Even in harder times.
So at the moment a NYC gold refinery is experiencing the best of both worlds. A satisfying and consistent influx of gold from sellers and quick turn over into new product for buyers. What is truly surprising is by most accounts there is no sense that this gold thing is any sort of economic bubble that might pop.