Gold prices reach all time high as more Sioux Falls couples get engaged

Your Money Matters

Gold prices have continued to rise since the pandemic started, but engagements and special occasions are still happening everyday–even more than usual.

Wes Heckel is at The Diamond Room picking out some diamond earrings for his wife’s birthday

“She had suggested she might want some bigger ones than what she had, so I thought I’d do that,” Heckel said. 

Like many people have found this pandemic, jewelry has become the safest way to celebrate a special occasion.

“Anniversaries, some people want to take more trips and experiences…but you’re not going on the trip anymore, so its a great opportunity to come in and commemorate the event somehow, whether its an anniversary, birthday,” Justin Shatto with The Diamond Room said.

And while the pandemic has canceled many weddings this summer, it hasn’t stopped people from popping the question.

“We’ve seen a big increase in traffic, we’ve seen a lot of bridal traffic coming in, they’ve spent the pandemic together and are ready to move on with that next step of their life,” Shatto said.

The wait time for a custom order might be a little longer.

“Chicago and the coasts have been hit hard and some of our designers being located in some of those areas have been shut down for quite some time or operating at severely reduced capacity,” Shatto said.

And if it’s made of gold, it could cost a little more; for the first time ever, the price of gold surpassed $2,000 just last week.

“Gold definitely has taken a big increase from at the beginning of the pandemic…in four or five months, we seen a $700 swing in the price of gold,” Shatto said.

But even a change in price isn’t stopping people from finding something special.

“Not for me no, I would have done it anyway,” Heckel said.

Heckel says its worth it to see his wife’s reaction to her sparkly surprise.

“As long as she doesn’t see this,” Heckel laughed. (If you know his wife, don’t ruin the surprise. Her birthday isn’t until Saturday.)

There’s some good news if you’re looking for your own special gift–the price of gemstones has remained fairly steady through the pandemic. 

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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