June 23, 2013 |
LAS VEGAS - At the fine jewelry show known as Couture Las Vegas a few weeks ago, there was one big take-away: The sky's the limit. With the economy recovering and gold prices dropping, the fine jewelry business is booming. I talk with Los Angeles Times Assistant Managing Editor Alice Short about the trends in jewelry in the video here. Notably, gold is back. Gold prices surged over most of the last decade, peaking at nearly $1,900 an ounce in August 2011 and forcing jewelry designers to adjust by augmenting their collections with lower-priced metals such as silver and copper.
April 16, 2013 |
Gold has lost some of its gleam among small investors who once saw it as a financial salvation. The precious metal suffered its sharpest price drop in three decades, as the frenzy that drove gold to fantastic heights in recent years reversed course with a vengeance. Gold shriveled more than 9% on Monday, its worst drubbing since 1983. It's down more than 13% in the last two trading days. The loss in gold preceded Monday's bomb attacks in Boston. The losses have been agonizing for individual investors who poured in during recent years.
April 15, 2013 |
NEW YORK -- Stocks posted sharp losses in Monday trading as commodities fell sharply following disappointing economic data out of China. Gold was also suffering a sharp sell-off. The Dow Jones industrial average, which had been in striking distance of 15,000, was off 156.85 points, or 1.1%, to 14,708.21 in late-day trading on Wall Street. The Dow had been down more than 200 points earlier. The broader Standard & Poor's 500 index was down 22.67 points, or 1.4%, to 1,566.18. The technology-focused Nasdaq was off 52.73 points, or 1.6%, to 3,242.22 Downbeat data out of China fueled worries over slowing growth.
January 5, 2013 |
India has long had a love affair with gold. But one businessman there is so infatuated with the precious metal, he dropped about $230,000 on solid gold shirt. More than two dozen goldsmiths toiled for 15 days for lender Datta Phuge, who custom ordered the seven-pound top to wear for New Year's festivities, according to the Pune Mirror . The shirt is crafted from 14,000 22-karat gold rings linked together and comes with six Swarovski crystal buttons and a belt also made of gold.
November 26, 2012 |
Consumers trying to re-create the classic holiday song “The Twelve Days of Christmas,” in which a true (and loaded) lover goes to town buying some very odd gifts, will have to shell out more than they ever have before. Want a partridge in a pear tree along with a menagerie of other fowl? Five gold rings? A battalion of maids, ladies, lords and more? Time to withdraw $25,431.18 from the bank account, according to PNC Wealth Management's 29th annual survey . That's a 4.8% increase from last season, after a 3.5% increase in 2011 and a 9.2% leap in 2010.
August 23, 2012 |
The spot price of gold lurched up Thursday as anticipation of new stimulus measures worldwide grew. The precious metal was up 1.9% to $1,669.10 an ounce, propelled in part by an unexpected rise in jobless claims that highlighted the job market's weakness. And an HSBC report showing sagging manufacturing performance in China didn't help. Business activity in the Eurozone, including in normally stalwart Germany, is shriveling so fast that many analysts are predicting a recession for the entire region, based on new data from research firm Markit.