Gold Down over 20% Year to Date Going Into the Holiday Season

Now is the best time in years for gold lovers to purchase trendy gold chains.


Redondo Beach, CA -- (SBWIRE) -- 11/11/2013 -- According to various economic reports, the price of the precious yellow metal is dropping considerably and is helping to create a buyers market for all gold lovers from across the world. People who adore this metal can utilize this great opportunity by purchasing their favorite gold items at record low prices not seen for the past several years.

As of November 9th, 2013 the spot price of gold is currently trading at $1309/oz which is much lower than the price of gold a year prior when it was trading well over $1700/oz. That's a drop of 23% from this time last year and will definitely be a catalyst for a lot of gold transactions going into Christmas. The cost of large diamonds are also down approximately 7-12% in cost, and smaller melee diamonds are also down over 20%, so we expect consumers to snatch up a lot of gold and diamond jewelry this holiday season.

Gold chains, especially are making a big come back with affluent shoppers, particularly those shopping for gifts for themselves. During the onset of the recession back in 2008 and into 2009 and 2010, celebrities reluctantly stopped wearing large gold chains and heavy gold jewelry. At the time, it was considered somewhat ostentatious to wear such expensive jewelry, especially when gold was surging in price up to $1900/oz and people less fortunate were losing their jobs and their homes. However in the past few years as the price of gold has come down and the U.S. economy has shown some increase wearing gold chains has become in style again and at bargain prices.

What will the future will bring with the price of gold is anyone's guess. The price of gold measured by the U.S. dollar is really tied to the strength of our dollar. When our dollar is low due to low confidence in the economy or printing an excessive amount of dollars, the price of gold surges. But shoppers should enjoy the low price of gold while it lasts.

About Luxe Chains
Luxe Chains specializes in custom gold chains and platinum chains and features the world's largest selection of chains online with over 1000 of the hottest styles of chains used to make necklaces and bracelets. Constantly innovating, Luxe always brings the latest designs to market that are both unique and stylish. They manufacture in any alloy of precious metal including 10K, 14K and 18K gold (yellow, white and rose colors) as well as 950 Palladium and 950 Platinum. They can also be made in any length from 7” to 40” or more. For detailed price, models, size and specifications are made available to customers via this website.

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Yosef Adde
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