While the price of gold has plummeted in recent months—below $1,400 from a high of $1,900 an ounce in 2011—don’t expect prices at your jeweller to fall in step. That’s because bling isn’t solid gold. For instance, a 14-karat gold ring is only 58.8% gold—the rest is an alloy filler of silver, nickel, zinc and copper. Two jewellers revealed their costs to MoneySense. They say consumers will only get minor savings because gold makes up such a small portion of the total price tag.
- Press play below to hear more from MoneySense Online Editor Stefania Moretti and 680 News’ Mike Eppel on the topic: