Buying gold or silver jewelry has never been easy not only because of the plethora of collections but also because of the varying prices. At times of high demand, the best deal of the day may seem ridiculous a few months down when prices fall. On the other hand, you can make incredible savings by cashing in on the current price during low demand. For many consumers, these price variations are hard to track. Luckily, you can now buy silver and gold jewelry like a pro by waiting for specific months in the year.
This article highlights the best time to buy precious jewelry and save money while you are at it.
January
Gold and silver investors know that the best time to cash in on good prices is at the beginning of the year. The cost of precious stones also affects the prices of gold and silver jewelry and it is thus more affordable to buy at this time.
The prices of gold and silver jewelry are at a low after the holiday spending and most jewelers want to finish their holiday stock. To get rid of this stock, they give incredible discounts and you can upgrade your collection with fantastic jewelry at the best prices at the beginning of the year.
March
The exhaustion of gift giving and shopping comes to a peak in March and at this time; household owners have more pressing needs than buying jewelry. Jewelry store owners appreciate this fact and the need to offer the lowest prices to keep their businesses running. In March, you will get gold and silver jewelry at ridiculously low prices that you might not see again during the year.
It is important to note that these lows price do not come again during the year and in the future. Every year has its price lows and if you manage to get a bargain on a brilliant jewelry item at this time, you might never get that price again in the future. It is thus important to grab any good price deals that come your way early in the year.
End of May
Most American retailers can estimate when the consumer has money to spend. One such time outside of the holiday season is in late April or early May. At this time, household owners have filed their taxes and many receive refunds.
There is an increase in cash flow and to cash in, jewelry stores offer great discounts to push their stock before the holiday season starts in October/November.
Retailers understand that once Mother’s Day is out of the way, they have few chances to make good money until the holidays come again to provide opportunities to push fresh stock. Buying gold and silver jewelry at this time is a great opportunity for you to save money and own magnificent jewelry.
Late June
The prices of gold and silver affect the cost of silver and gold jewelry on the market. Research shows that in late June, prices of precious metals dip across the globe and this dip has an impact on all byproducts of these metals.
If you want to get silver and gold jewelry at jaw-dropping prices, you should try late June. Jewelry markets are slow at this time and you have more opportunity to negotiate a better price for your favorite jewelry.
July
This is another slow month for jewelry sellers because during the summer, buying jewelry is not an important priority. People plan family holidays and other fun ways to spend this exciting time of the year but buying expensive silver and gold jewelry is not a big hit.
Sales of jewelry during the summer are not as successful as compared to sales of summer clothing. While many designers have tried introducing summer jewelry collections, they do not move as well when compared to holiday jewelry sales. At this time, you can get that beautiful gold or silver piece you have always wanted to buy at a great bargain.
August
As consumers wrap up their summertime activities, there are other pressing matters on their minds as well. They have to think ahead and plan for the upcoming school year and other financial obligations.
Jewelry retailers have a hard time during this season and they give enticing discounts on their collections. You can buy fine precious jewelry including gold and silver at the best prices in August because the stores have to maintain a running business.
November (Black Friday and Cyber Monday)
If you want to get the best deals on gold and silver jewelry, you should try November when the holiday sales officially start. Black Friday, which falls on the day after Thanksgiving, has always heralded holiday shopping. Over the years, it has become the best day to hunt for great bargains.
After the weekend, comes Cyber Monday, a day when deal hunting goes online. These two days make November one of the best times to shop for fantastic price deals on anything under the sun, including gold and silver jewelry.
Are you shopping for the dream wedding diamond band, gold or silver? You do not have to rush now that you know the best times of the year to shop. To get the best price deals on silver and gold jewelry during the year, avoid gift-giving holidays such as Valentine’s Day, Mothers’ Day, Christmas, and Easter to name a few. Take your time and keep tracking price changes over the course of the year, paying special attention to jewelry prices during January, March, April, May, July/August, and November.