Leprechauns aren’t the only ones on the hunt for gold...because of its beauty, durability and elegance, so are we!
Gold is a dense, soft, shiny, malleable and ductile metal with a bright yellow color and an attractive luster. Throughout recorded history, gold has been highly sought after and valuable for coinage, jewelry and other arts. Until the late 20th century, gold standards were the most common basis for monetary policies. Global consumption of new gold is approximately 50% in jewelry, 40% in investments and 10% in industry.
The tradition of gold jewelry has endured for centuries and will carry well into the future. Men, women and children alike wear gold jewelry in any and all forms; rings, chains, earrings, watches and bracelets are commonly made with gold. Jewelry wearers love gold because of its characteristics:
Unique Luster – The natural luster of gold is both distinctive and intense. The ability to produce several shades of color by combining gold with other metals contributes to its beauty and versatility.
Durability – Gold does not rust, tarnish or corrode. It virtually lasts forever! Gold artifacts and jewelry buried with King Tutankhamen in 1350 BC are still gleaming and lustrous today. This durability gives consumers confidence that their jewelry will last for years.
Ease of Workability – Did you know that one ounce of gold can be stretched into a wire that’s 50 miles long? The working qualities of gold are superior to other metals, making it the ideal precious metal to use in fine jewelry. Ease of workability enables flexibility and variations of color. Gold can also be re-melted and used repeatedly.
Gold pricing is determined through trading in the gold and derivatives markets, and a procedure called “Gold Fixing” provides a daily benchmark price for the industry. Since April 2001, the price of gold has more than quintupled in value compared to the US dollar. On August 23, 2011, the cost of gold hit an all-time high of $1,913.50.
The United States’ struggling economy paired with the value of gold has led many people to the decision of selling the gold that they own. If you would like to sell gold but don’t know where to start, look through your jewelry box and see if you have any damaged, broken, or rarely worn pieces of jewelry. These can be sold for cash that could be used for another investment (like new jewelry!).