Gold Drops as Euro Weakens Against Dollar; Silver Jewelry Prices Steady

Gold Drops as Euro Weakens Against Dollar; Silver Jewelry Prices Steady

By James Allen Silver Jewelry


Sept. 4 .... Gold fell for the fourth straight day as the euro weakened against the dollar, eroding the appeal of the precious metal as an alternative investment. Silver was little changed, translating into good prices for silver jewelry.

Competitive and low prices for quality silver jewelry can be found on the Internet where silver jewelry (jewellry, jewelery,) distributors are able to lower costs by keeping overhead low.

The euro fell as much as 1.2 percent against the dollar after the European Central Bank kept the benchmark rate at a seven-year high and said risks to growth remain. Gold reached a record in March as the euro headed toward an all-time high in July.

``Too much weakness in the euro will pull gold down,'' said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. ``The euro is getting beat up pretty good, so gold is giving in a little.''
Gold futures for December delivery fell $5, or 0.6 percent, to $803.20 an ounce on the Comex division of the New York Mercantile Exchange. The metal has dropped 4.1 percent since Aug. 28.

Silver futures for December delivery fell 0.7 cent to $12.94 an ounce on the Comex. Silver has fallen 13 percent this year, while gold dropped 4.2 percent.
ECB President Jean-Claude Trichet said the 15 countries that share the euro currency are experiencing an ``episode of weak activity.''
The ECB left the benchmark rate at 4.25 percent. The dollar has rebounded 11 percent against the euro since reaching an all- time low on July 15. The Federal Reserve slashed the main financing rate 3 percentage points to 2 percent in April from 5.25 percent last September.

Oil Drops

Gold also weakened after crude oil dropped as much as 2.6 percent to $106.52 a barrel on the Nymex. Oil is down 28 percent from a record $147.27 on July 11, while gold has declined 22 percent from the all-time high of $1,033.90 on March 17.
Still, some investors may purchase gold to preserve purchasing power as the inflation rate remains high and the global economy slows.

``Gold ultimately is a currency,'' said Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, Illinois. ``It's not that the dollar is better than the euro. It's that everything is losing value.''

Gold may stage a rally similar to 2005, when the metal gained 18 percent, even as the euro fell 13 percent against the dollar, McGhee said.

Founded in 1998 by James Allen Schultz and his wife Michele Sigler, the idea behind James Allen was simple: Offer the world's most beautiful diamond engagement rings and silver jewelry coupled with the finest laboratory graded diamonds, all at an extraordinary value.

While the idea of selling fine engagement jewelry over the internet seemed strange back in 1998, James Allen has now grown to be one of the largest and most successful of all online diamond retailers.

James Allen is regularly featured in trade magazines such as "National Jeweler" and has been profiled by such famous publications as "The Washington Post" Newspaper, "NBC News", "US News & World Report" and "National Public Radio".

So how did a company with such humble beginnings become so famous and successful?

The Highest Quality DiamondsIt is estimated that less than 3% of the round diamonds sold in the US today would qualify as "Ideal" under AGS grading standards. At James Allen however, over 90% of our customers choose diamonds from our "Signature Ideal", "Ideal" or "Premium" categories. All of our stones come with grading reports from either the Gemological Institute of America or the American Gemological Society Laboratory. These two organizations are the "gold standard" in diamond grading and the only option for discerning customers.

No other company offers a finer collection of Ideal cut diamonds than James Allen.

The Best Possible Value

The Internet has changed the world. Never again will people shop for cars, hotels, airline tickets or even houses without first using the tremendous power of the Internet to educate themselves about these most important purchases.

James Allen was one of the first diamond and silver jewelry companies to recognize this change in the retail paradigm and quickly gained notoriety for offering diamonds to consumers at never-before seen discounts. By tapping into the virtual resources and global partnerships not before available, James Allen consistently offers finely cut diamonds for hundreds to thousands of dollars less than traditional retail sources.

Personal Advice & Expert Education

James Allen Quality Diamonds and Silver Jewelry pride ourselves on a database of over 55,000 loose laboratory graded diamonds. We pride ourselves even more on helping each and every customer determine which of those 55,000 diamonds is their perfect choice.

Our comprehensive "Education" section features an interactive demonstration of the importance of diamond cut, along with simple yet powerful tips and tools to help decide which diamond is right for you. If the answer you need couldn't be found on the James Allen website, our expert staff is waiting to answer any question you might have.

Our phones ring thousands of times a month, yet most calls are answered immediately and every customer is treated like a personal friend.It is this dedication to quality, value, and customer service that has helped create the James Allen legacy.