At Your Service: “Why Is Gold So Expensive?”

This week marks the debut of a new feature in Your Store—the customer service-focused At Your Service column. Every other week we will ask retailers how they handle client requests, questions and conundrums. This week we asked jewelers how they handle the question, “Why is gold so darned expensive?”*

Elizabeth Diamonds, Dayton, Ohio

“I tell customers that when there’s uncertainly in the marketplace, a lot of people turn toward gold bullion because they feel it’s a safer investment than the stock market—so that drives prices up,” says owner Sonny Singhvi.

Adeler Jewelers, Great Falls, Va.

“I tell people that gold is tied to the cost of oil and gas, so as that goes up, gold tends to follow. And also we tend to see that when the stock market is not performing in a stable way, they will go to the futures, and gold tends to be one of those,” says co-owner Val Adeler Armour.

*Have all the answers? If you’d like to share your response to a tricky customer service question for At Your Service, email me at evesilind@jckonline.com.

JCK Magazine Editor