The World Gold Market

Several year price chart for gold at the time of writing this blog post. (click for full screen)

100 year price chart for the cost of gold. (click for full screen)

The World Gold Market and Your wedding rings

Currently the price of gold is on a steep incline. No one knows for sure, but at the time of writing this the cost is projected to continue to rise. (You can check your trusted news source to find the most up-to-date info for projections as this is developing daily.) Gold has been considered highly valuable for thousands of years. It always has its highs and lows, but historically the long term trend has been upward.

The world gold market is always impacted by economic and political world events, supply and demand, the strength of the dollar, interest rates and more. Tariffs do not directly contribute to the cost of gold, but they will influence its value due to their impact on the world economic and political landscape. Gold is also known as a safe-haven asset. In times of trade uncertainty or economic instability, many investors look to safe-haven assets like gold. This impacts supply and demand, driving up the price. The price of gold you see in the metal market is based on 1oz of pure, 24k gold. Your rings will contain just a fraction of this.

I am not sharing this to be an alarmist, but so that my clients can make informed decisions about their rings and have control where they are able. As a very small business I am navigating the market in real time with you. I always like to keep my pricing transparent with my clients, so I am planning to keep my clients at the forefront of my mind as the market continues to shift. I am offering my clients the option to lock in your gold price at any point. After booking your workshop you will fill out your metal order form and pay your metal balance, this will confirm your price.

Example of metal stock, next to finished rings.

Ordering your metal

The metal you make your rings from starts as milled stock. This is considered a raw material manufactured by a US based refiner. After booking your workshop you will fill out a metal order form, based on your metal color, karat, width, shape and size. If you are unsure of what you would like I recommend going to a big chain jewelry store where you can try on a variety of rings and see what you like on your hand. You can find lots of helpful links on my site for filling out your metal order:


Gold stock in a proposal box.

Planning Ahead

I have had a handful of clients over the years who wanted to propose with their raw gold stock and then book their workshop after proposing. This could be a good option for couples who know they want to make their rings with me sometime down the road and want to lock in their gold price now.

Please reach out to me if this is something that you are interested in.

Palladium

Palladium white gold has always been higher in price than the other gold alloys that I offer. It is still the higher alloy, but it is currently much closer in price to other gold alloys than in past years. This is because unlike gold, with its historical long term upward trend, palladium tends to fluctuate more and is currently on the lower end. This is also due to economic and political world events, supply and demand, etc. But palladium is not looked at as a safe-haven asset the way that gold is. To give you an idea of swings in the market; when I started my business palladium was half the price of platinum, in 2020 they traded places, today they are neck and neck.

immeasurable

The precious metal market always has a level of inherent risk and volatility, meaning that you don’t know if it will be higher or lower the next day, week, or month. It might help to know that many of my past couples have shared that the metal purchase is more than a financial investment. It will become more precious than the material itself. It will become your wedding rings that you will wear as a reminder of your commitment for the rest of your lives. Add in the value of making them with your own hands, definitely worth more than their weight in gold (pun intended).

Thank you for your support in my small business. -Stephanie Selle

Price chart for palladium at the time of writing this blog post. (click for full screen)

Q&A with Alexis Arrabito, owner of Port Townsend Picnic Company

WHAT INSPIRED YOU TO LAUNCH PT PICNIC CO?

A life-long hostess, I started seriously considering getting into the event space in 2019. That year, I had the pleasure of designing my own wedding reception and the honor of coordinating the local hospital’s Volunteer Appreciation Event. I transitioned to hospitality as the manager of The Washington Hotel downtown in the fall of 2020 which gave me a lot of insight into how the pandemic was impacting folks. It seemed totally unique to each person. I believe in the power of having something to look forward to, so the idea of inventing a special occasion or celebrating a milestone, but in a way that felt safe and comfortable for all involved, really appealed to me. And PT Picnic Co. was born!

HOW DO YOU DECIDE ON THEMES AND CURATE FOR EVENTS?

I am typically inspired by one element, like a special set of plates, and let that be my guide. As for how and where I find my unique items, the answer is everywhere! I did not appreciate going to garage sales, thrift stores, or flea markets with my parents as a kid. But we went, and we went often. You could say it’s in my blood. I love the thrill of the hunt, the art of the haggle, and the rush of the score! I’m always searching for one-of-a-kind vintage treasures, exciting activities, and special decor.

WHAT DO YOU THINK YOUR DESIGNS ADD TO THE EXPERIENCE?

The designs are what really make the experience! Al fresco dining is, in my opinion, sacred in all its forms. Setting up an elaborate tablescape can be tricky, especially if you’re visiting from out of town, and creating ambiance for yourself is challenging. Honestly, this is a service I wanted for myself. Women in particular are so often tasked with making magic for others, but a magic show is very different for the audience than it is for the people on stage. I wanted to create an experience where someone else makes the magic so you can enjoy the show.

WHAT IS THE TYPICAL PICNIC EXPERIENCE LIKE?

Booking is a breeze on my website. Guests select their date, time, theme, and select from an assortment of hand-picked locations. I have a range of add-ons, including table and yard games, tents, and poufs, but I love to surprise and delight guests by going above and beyond. We’ll keep in close contact and, on the event date, I’ll arrive with plenty of time to get everything picture perfect. I’ll drop a pin to our precise location about 30 minutes before the agreed upon start time. There’s a very brief hand-off and then guests are free to use our equipment for the duration of their experience! A curated basket of pre-packaged specialty foods is provided, but guests are encouraged to bring their own, too!

HOW DO YOU HOPE YOUR COUPLES LOOK BACK ON THEIR EXPERIENCE?

I hope they look back on it the way they look back on other really memorable occasions: fondly, grateful for their fortitude to make themselves a priority, restored and refreshed, impressed with themselves for maximizing their time and energy, and totally glad they booked! Experiences are gifts that keep giving -- you can close your eyes and relive them for years to come.

WHAT DO YOU THINK MAKES PORT TOWNSEND, AND THE OLYMPIC PENINSULA, SUCH A SPECIAL PLACE FOR COUPLES?

The Olympic Peninsula is abundance personified, and I’ve been known to say that Port Townsend is basically an adult sleepaway camp. There is something here for everyone! You can spend the better part of a day swaddled in solitude and then quickly transition to an idyllic and bustling community. Once you drive past that welcome sign it’s easy to feel like you stumbled into a film about a sweet and sleepy Victorian seaport -- and you’re the romantic leads!