The stories of public interest that are published by Kitco News take a look at what is making headlines in the marketplace and how that is affecting the pricing of precious metals.
The valuable metal, which is also known as the goldof the ordinary man, is beginning to attract the attention of major fashion brands all over the world. In addition, the prices are completely unreasonable in every way.
According to a recent article that was published in The New York Times, silver jewelry was presented at the European Fine Art Fair that was held in Maastricht, which is located in the Netherlands.
The article was written about the event. The world-renowned jewelers Boucheron and Buccellati showed off their most recent silver works of art to the public over the summer of this past year in Paris.
During the event that was held in October at the London Pavilion of Art and Design, Elisabetta Cipriani displayed a necklace that she referred to as Vortice II. This necklace is bendable.
John Moore, who is based in the United Kingdom and designs jewelry, came up with the idea for it. The piece of artwork, which is made up of thin slivers of silver that are held together by a rubber band, had a price tag that was greater than $29 thousand.
In spite of the fact that it is becoming increasingly fashionable in the prestigious halls of haute couture, the demand for silver is a reflection of markets located all over the world.
According to the most recent analysis on the global silver market that was conducted by Metals Focus, the demand for jewelry all over the world has increased by a record 235 million ounces so far this year. This represents a 29% rise in demand when compared to the demand from the previous year.
A research firm with its headquarters in the United Kingdom came to the conclusion that demand in India is driving growth in the jewelry market. This demand is responsible for around half of the demand that has been noticed across the globe so far this year.
Some academics are of the opinion that the reason silver is so popular is that, in comparison to the cost of gold, its pricing is significantly more affordable.
The ratio of the price of gold to the price of silver is now hanging near its highest level in more than two years, with gold prices trading around $1,750 an ounce and silver prices trading around $21 an ounce respectively. This occurs as a result of the fact that the price of gold is higher than the price of silver.
In addition to the disparity in price, an article published in The New York Times pointed out that there is a growing interest in the precious metal's artistic potential.
Alyse Chirumbole, director of fine jewelry and watches at the online retailer Threads Styling, said in the article:
Some clients prefer the color, whilst others are attracted to the price point. Silver is an edgier, more modern way to wear jewelry — especially for younger clients.- Alyse Chirumbole
The work of Parisian jeweler Amélie Huynh, whose brand Statement combines silver and diamondsin Art Deco-inspired pieces, was also acknowledged in the article that was published in The New York Times. Huynh's brand Statement creates pieces that combine Art Deco-inspired designs with silver and diamonds.
Statement's best-selling design, A ringfrom Ring MyWay that is crafted of sterling silver and plated with rhodium may be purchased for a starting price of roughly $530. If you want a model that is embellished with diamonds, you will need to spend more than $5,000 on it.
The price of Statement's silver pieces is still between 30 and 40 percent less than the price of their equivalent in gold, as indicated by a comment that Huynh made to the Times. In addition to that, she noted that the manufacture of silver jewelry necessitates a considerable lot of labor.
Because silver is a somewhat malleable metal, sterling silver is typically produced by mixing silver with copper, which strengthens the metal and allows it to be worked more easily.
In her reply, Huynh stated:
Regardless of all the difficulties, I'm convinced that silver has its legitimate place in the fine jewelry industry.- Huynh