Soaring <b>gold price</b> causing headache for jewellery industry | The <b>...</b>

The soaring gold price has been causing headaches in the jewellery industry this month, with volatile price changes causing problems for suppliers and retailers, and confusion among consumers.

Philip Newman, director of research at precious metals consultancy GFMS, said the constantly changing price is likely to cause pricing dilemmas for retailers. He said: “One of the big problems for independent retailers is the volatile price. Items bought at different times could have different prices, or customers may return to find they now have to pay a higher price for the same item. This all causes confusion and the retailer has to either pass on the cost to the customer or decrease their margins.”

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