The independent jeweler first opened its doors in 1888.
Silver Price Expected to Rise Another 39% in 2021
This follows a significant uptick this year, according to the Silver Institute, even as global jewelry demand was down.

New York—Much as it has done for gold this year, the COVID-19 pandemic boosted the silver price in 2020 and it’s expected to continue its rise.
The metal’s price started the year soft, but began taking off throughout the pandemic, Metals Focus Managing Director Philip Newman said in a webinar hosted Tuesday by the Silver Institute to discuss its Interim Silver Market Review.
Its price has grown 38 percent through the year as the crisis led to an uptick in safe-haven demand.
He said price is predicted to rise 27 percent year-over-year to average $20.60 in 2020, which would mark the highest annual average since 2013.
Newman also noted silver is expected to remain strong and continue to outperform gold, though perhaps not as dramatically as it has been doing in 2020 as the uncertain economic outlook could affect prices going forward.
Still, the Silver Institute predicts a further 39 percent increase in price in 2021 to average around $28.60.
Along with the price increase, there has been a major improvement in the gold-to-silver ratio—representing the amount of silver it takes to purchase one ounce of gold—which Newman said reached an “unprecedented” peak of 127:1 in March.
It has since fallen again to 76:1 this month, he noted, around which he expects it to stay for a while.
But as price has risen, silver jewelry demand has gone down.
Global silver jewelry demand is expected to fall 23 percent in 2020 to 153.6 million ounces, according to the Silver Institute, underpinned largely by heavy losses in India resulting from widespread lockdowns hitting disposable incomes and leading to a weakened economy.
Global demand also weakened in the U.S., though Newman said the extent of the decline was more modest than for gold and added that a “sharp turnaround” is anticipated soon for the market suppliers.
Mine production for silver will also likely go down overall, with an expected decline of 6.3 percent in 2020 to hit 780.1 million ounces, according to Metals Focus Director of Mine Supply Adam Webb. This result comes, not surprisingly, after lockdowns implemented by major silver producers in the first half of the year required a temporary halt in production.
This goes against the firm’s prediction earlier in the year total production would be up in 2020.
Most mines have returned to full production rates, but the continued risk of outbreaks of COVID-19
The Latest

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.


The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

Alex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.

The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.

The ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.

The two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.

The time to start experimenting with video content is now, writes columnist Emmanuel Raheb.

From striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.

The jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.

The auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.

The company also noted record sales in the United States and a strong performance in its jewelry category.