• How The Rising Cost of Gold Affected Us

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    goldring.jpg
    photo: CaroWallis1

    Last year around this time, Her and I went to the place where I purchased her engagement ring to shop for my wedding band. We ended up both liking a simple yet classic, plain, polished wedding band. The price for getting it in platinum was ~$800; the price for the same ring in white gold was ~$250. There was little discernible difference between the two metals except for the price, so we thought that we’d go with white gold. Since we knew that the wedding was more than a year away, we decided that we wouldn’t purchase anything that day and would give ourselves time to mull over the choice for a while.

    That while turned out to be another year. This past weekend, Her and I went back to the same jewelry store, spoke with the salesperson, and looked at the same simple yet classic, plain, polished wedding band. Except that this time, the price for the wedding band in white gold increased to $450. We finally decided to purchase it.

    I’ve read headlines about the rising price of gold and whether to invest in it, but never really paid attention. I was pretty blindsided that the rising prices of gold would affect us in this part of our life. The salesperson was all too familiar with this and the daily fluctuations of the price of gold; she said that we wouldn’t have to pay the difference if the price of gold rose even more during the period it took for them to order the ring.

    At the end of the day though, it was a great feeling to be one step closer to being married.

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