Canadian jewelry company explores alternate metals to counter volatile prices
BNN Bloomberg
A Canadian jewelry brand is deploying several strategies to manage the impact of rising prices and fluctuations in precious metals amid a volatile market, the CEO says.
Toronto-based Suetables says its “profits are down significantly” after gold reached record highs. It plans to use metals like brass and sterling silver to make jewelry.
“We’re trying to figure out ways to pivot to catch up, and that’s looking at other materials,” Sue Henderson told BNN Bloomberg in an interview.
The high price of gold is driven by central bank buying, particularly in China and emerging markets.
“I’ve never seen anything like this in 20 years of selling jewelry,” says Henderson.
“I see on websites that prices are estimates only, and they can’t display prices in real time because they’re just changing so much, makes it very hard to run a business.”
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