Welcome to the latest studio report!
For the last couple of reports, we’ve been discussing the execution of the United States’ new tariff policies and their impact on our studio. Earlier this month, the United States imposed tariffs on almost all countries and global trade partners, barring a few exceptions. The implementations are still in flux and exemptions are regularly cropping up for certain goods, but it’s safe to assume that the tariffs are here to stay and will be impacting daily life over in the States.
The International Gem Society recently published an article discussing the administration’s global tariffs and its impact on the gem trades, which we found informative and worth sharing. Specifically, the tariffs on China, India, and Thailand are highlighted as these are major hubs for the gem trade and product sourcing. The article highlights a conversation with a small jeweler who expresses concern that is no doubt widespread amongst the jewelry community, but especially amongst small proprietors. If you have time, we recommend reading the article.
So what does this mean for Roxue? Well, as stated in previous reports, it’s information that we’re taking under advisement for future purchase considerations. Nothing will be for certain until we begin due diligence for sourcing materials for future collections, but it does incentivize us to try to source any gemstones for use within the United States. For the sake of transparency, we’re happy to continue providing updates about this topic as we think it’s important to keep customers informed, if only for the sake of our own integrity.
Related to tariffs and global trade, these policy decisions by the United States have had a seismic effect on the stock market, including commodities pricing for precious metals. The spot price of gold as of writing is over a whopping $3,300 an ounce, with silver coming in hot at nearly $33.00 an ounce. The reasons for these surges vary, but one major reason is the general uncertainty felt by investors with respect to the stability of global trade and the geopolitical landscape. Investors tend to flock to precious metals, especially gold, as it is considered a safe haven due to historically retaining value. Unfortunately, because of this drive to gold it does affect bullion purchasing and so once again, jewelers will be contending with higher metals prices when purchasing for production. Reuters has an article briefly discussing the matter that gives a nice high-level overview for anyone wanting to read more about it.
In more directly useful news regarding our studio, spring weather has been temperamental as usual, but we’ve had many days of warm weather (said as this post is going live the day of a snowstorm), so we’ve had opportunities to get out into the studio and make stuff! The next task is setting time aside to get them posted to the website (and making more stuff!). We hope at least in the meantime, anyone reading these updates have found them somewhat useful or informative, even if there’s nothing to sell right now (but we’re working to change that last part).
What will May bring to our studio? Who knows! But it will be good all the same. Even with the challenges and headwinds before us all, the only thing we can do is move forward. Please take care of yourselves.
Until next time!
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