August 08 Economic FactorsAugust 1, 2008
The current rates used by our Jewellery Valuers are;
Gold: $1187 per ounce Platinum: $2625 per ounce Silver: $22.78 per ounce NZ$: 0.766 US$
These figures will be used throughout August, regardless of any changes through the month. The rates are a three month average. We use a three month average because our values should reflect current retail prices, and allowing for Jewellers stock turn rate and time taken from manufacture to store, this has been shown to be most accurate.
The exception is for for large single diamonds that are not normally available ex stock in New Zealand, where we will value them at the US Dollar exchange rate of the day.