Jewelry retailers already hurting from a slumping economy are being hit from yet another direction. Soaring prices for the precious metals that go into jewelry, including gold and platinum, have pushed up prices at store counters.

Gold and platinum prices have risen more than 200 percent since 2001 and are hitting historic highs this year. On Thursday, according to U.S. commodities exchange figures, gold closed at $973.90 an ounce, while platinum closed at $2,161 an ounce.

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