Title: Learn More
Subtitle: Metal & Stone Markets
Alvaro Coronado Policy Memo
Regarding: Metals Market Prices and Stone Supply and Demand
Due to the volatility in the gold, silver and other precious metals markets, prices are subject to change without notice. World events can also have the same effect on prices and/or availability of stone supplies.
Alvaro Coronado, Inc. makes every effort to honor prices for orders already placed. However, spikes in the metals market and the impact of world events on inventory are unpredictable. Therefore, we prefer to place this notice to inform you that a price change may be necessary on a custom order of an existing jewelry design that has already been sold as well as the need to substitute stone class or quality. This is not the usual case but can happen.
In the unlikely event such a case should occur, we will always notify you by phone or email if the price has changed due to a market rate increase and require your approval prior to charging your credit card for the new price or added charges. We implement the same procedure in the event of a stone price increase or when supplies can not meet demands.
All orders in our shopping cart are considered custom orders since each is specifically designed by the customer. If you place an order in the shopping cart and the price of the item has increased due to circumstances outlined above, we will notify as quickly as we can and follow the policy outlined above.
Generally, we try to monitor and update our prices on a regular basis. Doing so keeps our prices close to up-to-the-minute market fluctuation and we can avoid taking any additional course of action once an order has been placed.
Although this situation is not normally the case, we feel it important to fully disclose its possibility and publicly display Alvaro Coronado, Inc. remedy and course of action should it be required.
If you would prefer to verify the current prices before placing an order email us anytime or call between 10 a.m. and 5 p.m. Eastern Standard Time.
Some History for a better understanding:
The price of silver increased from an average of $6.60 an ounce in January 2005 to over $14.00 an ounce in mid May 2006. This is an increase of more than 200% and the highest silver price since 1987. The price of silver as of July, 2007 is 12.85 an ounce.
Gold prices increased from an average of $425.00 in early 2005 to over $500.00 in December 2005. In April, 2006, the price of gold started fluctuating sharply with prices as high as $725. This was the highest since 1988.
The price of gold as of July, 2007 is $658.00 an ounce.
Platinum as of July, 2007 is $1,318.00 an ounce.
World events such as the Tsunami in Sri Lanka had a tremendous effect on stone supplies, cutting and faceting.
Anyone interested can check metal prices on the New York Stock Exchange.