Sterling Silver Rising Market?
Recently, I have had to increase some of the prices on the “sterling silver” jewelry items we sell, especially the bracelets contain a large proportion of sterling silver beads. We had no choice but to increase our prices and this is due to the rising silver market. The silver market is currently the highest it has ever been in over 30 years. Why is the market so high for silver right now? This is what I came up with for the answer:
a. silver and oil are closely related – the rise of oil goes up and so does sterling silver
b. decline in overall silver production
If you see our sterling silver collections frequently change and increase in price this is because when we are purchasing from our supplies against the silver market; we have to simply buy at a higher rate. Unfortunately, sterling silver is expected to continue to rise over the next year.
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