Dec
18

Last year I bought a Platinum ring with diamonds. The same exact ring is $300 more now. Is this normal? ?

Patrick M asked:


Has the cost of platinum and diamonds really gone up this much?

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2 Responses to “Last year I bought a Platinum ring with diamonds. The same exact ring is $300 more now. Is this normal? ?”

  1. Nooni
    December 18th, 2010 at 8:19 pm

    Yes,I have gold jewelry I bought when gold was around $450 an ounce and now its over $900 an ounce.

  2. SG
    December 19th, 2010 at 5:05 am

    Under normal circumstances this wouldn’t be typical, but the economic downturn has led to surges in investment in metals like gold and platinum, which are considered safer during hard times. This has driven the price up dramatically.

    Do the 5 year chart for platinum at this link and you will see how it has spiked over the last couple years.