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Gold and Silver Set Records
Metals markets have been unusually volatile in 2005. This month both gold and silver the
highest levels in about 20 years. In 2005, silver was at its lowest in January at $6.39 per
ounce. In December, silver peaked at $8.59 which is a 34.4% increase in the same year. Raw
silver is the bulk of the cost associated with sterling items, so these market fluctuations
have dramatically affected our costs. We do our best to absorb temporary bumps; but, we must
institute surcharges when the variance becomes too great. The new metals catalog that is on
its way to customers is priced at $7.50 silver whereas last year’s edition was priced at $6.50.
Despite this change, surcharging may still be necessary in 2006 if the market keeps swinging
so wildly. We recommend that all buyers in the industry monitor precious metals prices regularly
to stay abreast of market trends.
www.kitco.com is the best resource for this information.
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