Men’s wedding rings made from gold, platinum and palladium have been on the rise in recent years with a very constant climb in prices over the last year. Increases have been seen by as much as 30% for some types of mens gold wedding rings and bands. Unless you are a jeweler or constantly searching for a ring, you may not notice this increase, as most people typically don’t buy wedding rings on an annual basis. The reason for this dramatic increase is due to the rise in cost of precious metals; gold and platinum especially.
The rise in precious metal prices have made the the cost of jewelry, including men’s gold wedding rings and bands, cost prohibitive for many people. The price of gold which has risen from $600 per ounce a year ago to over $750 per ounce as of October 14, 2007. Platinum has also risen from $1100 to over $1400 per ounce in just a year. That’s roughly a 30% increase in one year! When these precious metal prices increase it trickles down to the consumer, affecting the price of fine jewelry.
In an article entitled, “Gold Sparkles with Promise,” Curtis Hesler, editor of the Forbes Newsletter, The Professional Timing Service said: “In the first quarter of next year, we could see gold push the $800 level…” That’s almost a 35% increase. While this may be a great investment, it’s going to hit your wallet hard when it comes to laying down the cash for your men’s gold wedding ring. So, with gold and platinum reaching higher and more expensive price points, what alternatives are available for men’s wedding bands, wedding rings and engagement ring?
A simple platinum men’s wedding band is often priced around $145. Varying thicknesses will result in a variation in cost.
Men’s wedding bands set with diamonds start as low as $175. The quality of diamond and the type of metal it is set in are features that will affect the price. The size and cut of the diamond is an important feature. Solitaires are the most expensive and need a good setting to be displayed flatteringly. Platinum bands set with good quality diamonds can cost $1000 and more.
A leading online retailer of modern metals jewelry Titanium-Jewelry.com has many styles of titanium and tungsten rings starting at $79. Ron Yates, founder of Titanium-Jewelry.com and owner of Yates & Co Jewelers in Modesto, CA says “We’ve seen a huge increase in men choosing contemporary metals for their wedding rings. Just three or four years ago most guys never heard of titanium rings or tungsten rings. Now they are considering these rings as a viable choice for their wedding rings. They like modern designs, durability and the affordability.”
So if you are shopping for wedding rings and the drastic increase in precious metals has moved beyond your level of affordability for platinum or gold wedding bands, there are options available. It is almost a certainty that as gold and platinum prices continue to spiral upwards more and more shoppers will be wearing contemporary metals on their wedding finger. Currently, titanium and tungsten are the popular choices but don’t be surprised to see other new exciting options open up in the near future.
Stainless steel wedding bands are also pretty inexpensive. These bands are popular because of the macho look they project.
Tags: men's gold wedding ring, mens gold wedding rings and bands, ring, wedding
