November 05, 2010

The Weakening Dollar

As anyone that works with precious metals knows, prices are through the roof. When I read that the Federal Reserve plans to buy back $600 billion in U.S. Treasuries in an attempt to stimulate the economy, I also found out what this might do to the U.S. dollar. I’ve been watching silver prices increase for awhile now, but the last couple of days have been insane – a rise of almost $3 dollars to a total of just under $27 an ounce.

I’m sure we will see an increase in the use of non-precious metals in jewelry, among other things. I am glad I don’t need any sterling silver wire, for now.

Here’s a BusinessWeek article on the rising price of Gold, along with other metals:


  1. I read about the jump yesterday -- JUST after I told my husband I desperately needed more silver wire! Now I have tasked myself to get creative with what I have left for the season... hmm.

  2. Silver is now at $27.50 an ounce...sheesh!