joestool Posted December 9, 2003 Report Posted December 9, 2003 Each year since 1984, PNC Advisors has provided a tongue-in-cheek economic analysis, based on the cost of the goods and services purchased by the True Love in the holiday classic, ?The Twelve Days of Christmas.? PITTSBURGH, Dec. 8, 2003 ? While stiff import competition is driving deeper discounts on merchandise sold in the United States, skilled labor cost is on the rise, resulting in a 16 percent increase in this year?s PNC Advisors Christmas Price Index ? the biggest jump the Index has seen in its 19-year history. Link ------ Most suprising in spite of overall record inflation, they show the price for "five golden rings" dropping 5.6% from $382.50 in 2002 to $361.25 in 2003! Kitco shows London gold fix for 1st week of December as 316.45 - 325.75 in 2002 and 400.25 - 402.40 in 2003. That's about a 25% increase in POG which means that the retail jewelry markup must have fallen by more than 30%! A 500% markup over POG in 2002 might only be a 350% markup in 2003...that's a HUGE drop in retail pricing power and one hell of a dose of asset deflation! Blue Nile currently lists a plain ladies 2.5mm 18k gold wedding band for $95 but I don't have any historical jewelry prices for last year. I did do some serious diamond shopping 2 years ago and and just a quick on-line search for diamonds of similar specifications to what I purchased then seems to suggest the prices for higher end 1ct+ diamonds may have fallen by about 20%! :shocked Anybody out there have the Rapaport diamond price sheets for the last couple of years?
Guest yobob1 Posted December 9, 2003 Report Posted December 9, 2003 Diamonds are a girl's best friend, not a man's. Probably the milking maids that drove the increase - the price of women never goes down.
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