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FairySaddle
04-12-2004, 11:10 PM
Well, anyone who has ordered silver wire or findings lately knows that the price of silver has skyrocked! :eek:

Is there anyone here who knows anything about the market? Should we stock up now before the price gets any higher, or wait for the prices to go down???

Nancy

DonnaBee
04-12-2004, 11:50 PM
This is interesting reading:

http://business-times.asia1.com.sg/story/0,4567,113431,00.html

I will keep digging.

DonnaBee
04-13-2004, 12:03 AM
Most know, but I will go ahead and say it because when I was new to selling my handmade jewelry, I didn't think of this at first:

When you price your item for retail sale, when you plug in the cost of a component (silver spacer bead, clasp, etc.), you need to plug in what it will cost to replace it to your inventory, and not what you paid for it.

How do we know what our silver replacement costs are, when it is so volatile as it is now?

DonnaBee
04-13-2004, 12:37 AM
Here is a question and answer panel of guys who seem to know things, one of them says silver can go to $20.00 oz. in the next couple years.

http://www.gold-eagle.com/editorials_03/robinson093003.html

FairySaddle
04-13-2004, 12:49 AM
Wow, Donna! Thanks for all the research. :clap: :clap:

Your editorial led me to this article. Kind of terrifying to those of us who love silver... http://www.gold-eagle.com/editorials_04/tacinv040804.html

Nancy

DonnaBee
04-13-2004, 01:13 AM
It's so interesting!

Okay, so what I am gathering, is that the low price of silver, all this time, even at $8.00 an ounce has been an illusion. (Because of all that long-short stuff.) That silver actually is worth quite a lot more, and possibly soon we will all have to pay much more for it. Because not that much of it even actually exists?

Then I read somewhere, lost the link already, that there is going to be increased mining and production of it somewhere... I forget where. Will that help hold the price down if the illusion from all the long-short stuff is burst?

Oh good potential for discussion, I hope more knowledgable people post. I will be back tomorrow. G'nite.

Ignuss-Fatuus
04-13-2004, 09:29 AM
ThaNK YOU FOR THESE [email protected]! I have been watching silver closely for several months...I guess I will just have to buckle down and sell some beads to buy more wire before it gets completely out of hand. The last bulk wire buy I did in march i believe it was of 2003 the silver I think was still inth $4.60 area an oz cant remember exactly. but it was less than $5 then I saw wen i was going to order more that it went up to $6 and I was like oh ill wait till it goes down what a mistake that was! now its over $8 It has been holding steady this last week or so but who knows from reading those articles!
Karin

DonnaBee
04-13-2004, 09:35 AM
I know! OMG. I will not hesitate to pay the current price, I guess $8.00 is actually low compared to what could happen! :eek: (and I need more wire too... grumble)

Here is an article about Kodak's loss of profit in their first quarter, due to what has happened with the price of silver.

http://www.forbes.com/technology/newswire/2004/04/07/rtr1326484.html

LLane
04-13-2004, 10:06 AM
For once I did something right!!! I ordered silver findings yesterday (Mon.) early.... and got it on the down tick!!! I have been watching the market closely... as I have a new situation where I am using much more than before... so I have had to adjust prices accordingly. I also had to get past the order "just a few " and then re-order mentality!! So I got bulk wire and findings .....but wow... I feel like I broke the bank!!!

Thanks for the articles.... but those guys are selling investment silver.... they are like stockbrokers!!! I never know what to believe!! :D

Peace,
Lois

beclectic
04-13-2004, 10:31 AM
What y'all are talking about is Silver Futures and as my daddy could tell you precious metal futures' markets are very volatile. Silver could do anything, it could skyrocket :eek: or it could plummet to a lower steady price. Many fortunes have been made and lost in precious metal futures. The last time silver was going up, up, up I invested in silver(not a huge investment, just a little experiment). All the people in the know said that silver could only go up and they used all the same arguments that are being used now. It prompltly dropped back to a steady price and has been going up and down in small increments since then. That's why sellers use a spot price. I think your best bet is to buy what you need or what you can afford and price your pieces to cover the replacement cost or your cost whichever is higher. Don't forget that if a piece hasn't sold it will need to be repriced to reflect it's currently rising silver value.

Hope this helps. :)

debkauz
04-13-2004, 11:02 AM
I just bought wire from Rio yesterday and it was more expensive than a couple of weeks ago, but not by much. The thing that surprised me was that copper was up quite a bit. I am going to play with copper doing wire wrapping efore I ruin any more silver and it was quite a bit more expensive than in the catalogue. I have never been tooo upset about the silver that I waste because I know someone who will melt it down and make findings with it. Now, however, I almost cry when I waste something. I hope it stabilizes soon at a not too high price!

Debbie

glitterbead
04-13-2004, 11:19 AM
I always use the Handy & Harmon spot price quotation:

http://www.silverprofit.com/Photo/spotprice/

debkauz
04-13-2004, 11:32 AM
I always use the Handy & Harmon spot price quotation:

http://www.silverprofit.com/Photo/spotprice/



That's a handy little thing to know! Thanks!!!

Deb

flynfire
04-13-2004, 07:22 PM
Well said, Barbara.

You can't worry about what the price of metal is GOING to do. It's like gasoline (or toilet paper). You need to buy it. If you have to pass the increase along to the consumer, so be it. Personally, I price my pieces high enough to not have to worry about it. One piece sold can pay for 10 times the amount of silver that went into it. (It's ART.) Gold, on the other hand, is another story.

DonnaBee
04-13-2004, 07:30 PM
Personally, I price my pieces high enough to not have to worry about it. One piece sold can pay for 10 times the amount of silver that went into it. (It's ART.)

:clap: :clap: :clap:

sassybird
04-14-2004, 01:28 AM
I have been watching the price of silver for a month or so now. When I am able to afford it I am going to stock up on several different gauges of wire. Right now I am working with copper wire, which I personally love, and have found that a lot of people are attracted to it.

I have a feeling all precious and semi-precious metals are going to go up in price. With the oil prices as they are now they affect the whole economy; the equipment to dig the ore, processing, shipping, overhead for jewelry making shops, etc... So I would say stock up on your favorite metals.

Alan Cross
04-14-2004, 01:35 AM
Just got $2,000 worth of silver beads today and I still have to get wire....so I hope that keeps me going for a long time....and I agree its like gas you have to have it so what can you do.
Alan :)

DonnaBee
04-14-2004, 02:58 PM
Alan! *thud* Well, I hope that means we are going to see lots and lots of pics of your creations! :D

So did you all see, the Comex is down, $4.45, on the link Lee gave us

http://www.silverprofit.com/Photo/spotprice/

I have this bookmarked now, thank you for this handy link Lee.

Charlee
04-14-2004, 03:08 PM
So did you all see, the Comex is down, $4.45

ARGH! I need wire and don't know whether to wait or buy or run amok. :confused: I think I will just bloody well order and then price accordingly. It'll cost what it costs. Sheesh. :rolleyes:

beclectic
04-14-2004, 03:20 PM
ARGH! I need wire and don't know whether to wait or buy or run amok. :confused: I think I will just bloody well order and then price accordingly. It'll cost what it costs. Sheesh. :rolleyes:

Buy while it is low, buy now, buy today! Run amok later for fun. :D

Alan Cross
04-14-2004, 07:30 PM
Alan! *thud* Well, I hope that means we are going to see lots and lots of pics of your creations! :D

So did you all see, the Comex is down, $4.45, on the link Lee gave us

http://www.silverprofit.com/Photo/spotprice/

I have this bookmarked now, thank you for this handy link Lee.

LOL well its the same old thing cheaper by the dozen.....and yes I will be posting more when I have time....
Alan :)

Ignuss-Fatuus
04-14-2004, 09:48 PM
ACtually it ended at 7.00 an oz
or there about you have to wait till the close of busines before you place your orders at most places. because even though during the day it might fall to 4 somthing the silver companies sell and figure their prices at the end of day price. A good way to see this with the other metals is at www.kitco.com
they have gold, silver and platinum and palladium.
Karin

DonnaBee
04-14-2004, 10:23 PM
OIC! Thanks Karin, I had checked it about a half hour ago, and it said seven, and I was a little perplexed!

Well, as was said, it is like gas four our cars I suppose! I don't look at the price when I fill the car, I just stop at $10.00 because that is usually the amount I have on me for gas (Sometimes the needle says half tank, sometimes a quarter tank!)