Jewelry sales strong in Oklahoma
Even with gold at an all-time high of more than $900 per ounce, Oklahoma
jewelers are reporting strong Valentine's Day sales.
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Today, her heart might go pitter-patter. His might have done the same at
the cash register. But even with gold at an all-time high of more than
$900 per ounce, Oklahoma jewelers are reporting strong Valentine's Day
Ask Kevin Moody, vice president of Moody's Jewelry, about the jump in
gold prices and expect a confident, quick answer.
"The good news is that it hasn't had a negative effect on business," he
said. "Most people would believe that people would be scared away, but
the fact that gold has gone up is a rather small impact on us."
The National Retail Federation estimates Valentine's Day spending will be
up this year from last. But it also said spending for jewelry will
Regardless, the jewelry industry is counting on the idea that people will
still shell out the big bucks for some glittery items.
Jim Clark, chairman of B.C. Clark Jewelers, with three Oklahoma City
stores, said each year Valentine's Day becomes a stronger holiday for the
store, second only to Christmas.
The store also sees a boost from procrastinators.
"Valentine's Day is primarily a two-day holiday when it comes to
selling," Clark said. "Most men will wait until the last minute, so we
have a big rush on the 13th and 14th without fail."
Despite rising gold prices, Clark said customers have not shied away from
the precious metal, which has jumped to more than $900 an ounce.
Instead, Clark said customers are often more focused on lines such as
Hearts on Fire, a collection of the world's most perfectly cut diamonds.
And even if the diamond is set in gold, Clark said the price is often
only slightly affected.
The high price of gold in many instances has even sparked customers'
interest in the metal.
"People see the price of precious metals increasing and that increases
their desire for it and the knowledge that gold is pretty valuable," he
said. "They also hanker for kinds of jewelry which are valuable and
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Clark said the only gold items where customers will feel the price
increase are items that are mostly gold, like a man's solid gold wedding
Clark said some customers have also been looking at alternatives to gold,
not due to the high price, but because of what he described as several
interesting new metals such as tungsten carbide.
Gold often costs about one-and-one-half to two times as much as tungsten
Despite some rising costs, Clark said shoppers - particularly Valentine's
shoppers - have been unabated in their desire for jewelry for that
"It even surprises us sometimes what people will spend on Valentine's,"
Michael Guillory, manager of Moody's on Utica Square, said because so
many couples get engaged on Valentine's Day, he does not see any reason
for a decrease in sales regardless of the current price of precious
"It's been a good holiday and I see it being equally as good as last
year," he said. "You can never go wrong with jewelry; it's expressing a
celebration of love."