I decided to compare the price for gold and silver over a ten-year span. It is very surprising and depressing all at the same time. This is because everyone wants jewelry at a lower price (can't blame them with this economy) but the cost of the wire I use in my jewelry pieces has increased by the following amount:
Gold: Increased by 450%: It went from $368.40 to $1652.90
Silver: Increased by 650%: It went from $4.80 to $30.77
What does that mean for me, a wire jewelry artist? That means if I bought an inch of gold filled wire ten years ago it would have cost me 6 cents. Today the same inch of wire costs me 28 cents! A simple wire sculpted pendant uses approximately 48 inches of wire. Ten years ago it would have cost $2.88. Today that same 48 inches of wire cost $13.44!
I hope everyone understands better why the price of jewelry has increased.