C.D Hopkins Metals Division notices alternative wedding band trends due to high gold price

Sept. 6, 2011 - PRLog -- LOS ANGELES – With gold prices hovering around $1,840 per ounce – up from about $605 per ounce five years ago – jewelers and cash-strapped couples are seeking alternative metals for wedding bands.

Tungsten, cobalt and stainless steel are among the less expensive metals making an appearance on the wedding scene recently.

“The American economy is struggling, and people are being forced to tighten their belts,” said Chadwick Hopkins, president of C.D Hopkins Metals Division, a national precious metal trading and investment firm. “Couples shopping for jewelry have become more willing to consider cheaper alternatives for wedding bands.”

So far, jewelers are limiting collections consisting of less expensive, industrial metals to men's lines.

According to Amanda Gizzi, spokeswoman for Jewelers of America, “Women aren’t there yet. Especially with wedding jewelry, women want to stay traditional and buy gold or platinum. They don't want to compromise at all because they're thinking about passing down these rings for generations."

On the popular jewelry website Blue Nile, tungsten wedding bands cost a little over $200, while the cost of a men’s classic platinum wedding band is around $1,900. White gold bands for men begin at $700.

“It’s not just the American people trying to save money,” said Hopkins. “It’s also the jewelry makers and sellers who are trying to find ways around the skyrocketing prices for gold and platinum.”

Another white metal which contains the same sheen as platinum, but which costs significantly less, is the industrial metal cobalt. This metal is used primarily in aerospace technology and the medical industry.

Industry experts say male consumers seem to like knowing that these industrial, space-age metals are used in making fighter jets, for example.

With the price of precious metals in an upward trend, C.D Hopkins Metals Division believes less expensive metals will continue to thrive for wedding bands.

Investors who wish to capitalize on the booming precious metal market can go to http://www.cdhopkinsmetals.com/ to learn how to open an account with C.D Hopkins.

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About C.D Hopkins Metals Division

C.D Hopkins Metals Division is a leading precious metals dealer and financing institution located in Los Angeles, Calif., specializing in gold, silver, platinum and palladium. With a C.D Hopkins Metals Division account, you can purchase precious metals for immediate personal delivery or arrange for convenient storage at an independent bank or depository. C.D Hopkins offers options for financing and selling your precious metals and expert account representatives to fulfill your investing needs. To find out how to open an account, visit http://www.cdhopkinsmetals.com/.