The Real Cost of $800

With the price of gold over $800 an ounce, and platinum topping $1,000 an ounce, it's no surprise the jewelry industry fears the sky is falling. After all, few in the industry can say "1981" without a shudder. But this isn't 1981, and $800 isn't as much money as it used to be. According to the U.S. Bureau of Labor Statistics' inflation calculator, $800 in 1981 dollars is $1,838.82 today. Or, in reverse, today's $800 gold would have cost about $348 in 1981. And, no, we're not in a recession. According to a special report from the Wachovia Economics Group, current conditions warrant concern, but they're not recessionary. "Economists as a group are fairly optimistic about the economy's prospects," writes Mark Vitner, Wachovia's senior economist. "The latest Blue Chip Economic Consensus Forecast assigns about a one-third chance of a recession during the next year, which is roughly the same
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out