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What to Know Before Buying Gold
Buying gold jewelry can be an intimidating prospect especially if your knowledge of gold and or jewelry is limited. Gold is such a precious metal and whether the jewelry you seek is for yourself or someone special, you want it to be perfect. There is a lot to know about gold and with a little bit of knowledge before you buy you can be sure to make the right purchase.
First, there are different karats of gold to choose from including 10 karat, 14 karat, 18 karat and 24 karat. The karat of gold refers to its purity or how much of the gold is pure gold as opposed to other metals. 10 karat gold is 10 parts gold or 41.7% pure gold. This is the minimum amount of gold required for it still to be called gold. 14 karat gold is 14 parts gold or 58.3% pure and 18 karat gold is 18 parts gold or 75% pure. Gold in its most pure form is 24 karat gold with no other metals mixed with it.
In order to decide which karat of gold is the best choice for you, consider what you want to get out of the piece.
If you want a piece that will last for a lifetime and are looking to make an investment, consider purchasing a piece that is 18 karat or 24 karat gold. However, keep in mind that the higher karats of gold are going to be much softer making them susceptible to dings and scratches. If you want a piece that is beautiful, durable yet a bit more affordable go with a lower karat of gold.
Gold also comes in a variety of colors giving you even more options when it comes to picking out a new piece of jewelry. All gold starts out yellow in color but can be altered to become white, green, rose or even black. No color of gold is any more valuable than another; price is directly correlated with the gold’s karat.
When deciding on a color for your gold jewelry, personal preference is all the information you need. Also consider design when choosing a new piece. The more intricate design the piece has, the more you will most likely pay for it. More simple designs will be easier on the wallet.
When you go in to a store and begin browsing the collections they have to offer, be sure to ask a lot of questions. Ask the salesperson what the karat of the gold is. Retailers are not required to label gold with its karat, so asking is key. Reliable and well known jewelers can be trusted to be honest about a piece of jewelry’s karat and value. You must be a bit more careful if you are shopping online. Do some research on a site before hitting “add to cart”. Look for reviews and be sure to review their return policy. Once you purchase a piece of gold jewelry online, you should be able to take it to a jeweler and have them to a gold test on it to determine its purity.
Comex Gold Ends Near Steady As Bargain Hunters Step In to Buy Weakness
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(Kitco News) – Comex December gold futures prices ended the US day session near unchanged price levels Tuesday. Prices were modestly lower in early US trading, on bearish “outside market” forces—a firmer US dollar index and weaker crude oil prices. …
Buy Gold question by Lola: Does it even make sense to buy gold and silver?
Rationale: If there is a worldwide financial and economic catastrophe nobody will be able to buy your gold and your silver anyways, because they won’t have money to begin with and if they do the paper money will be worth nothing. What could you do with your gold and silver if you could not sell it? There is no value in something you can’t sell, right?
Buy Gold best answer:
Answer by Jim L
I pretty much agree with you. If your purpose is to protect yourself in a worldwide meltdown, your gold and silver would have barter value – you could theoretically trade it for food or whatever. But if you have for example a one ounce American Eagle gold coin, how is the person you are trading with going to “give you change”? Certainly after the meltdown ends you would have more value in those assets than if you held cash or stocks or bonds.
But in the meantime, we have already survived the worst possible scenario in 2008-2009. Are we out of the woods yet? No, but the doom and gloomers who predict a Great Depression I think will be proven wrong.
Gary you mean like carry trading? You should not buy Australian currency, it may depreciate and you could lose everything…
I think if you believe in a worldwide financial catastrophe that horrible then you should invest in a nice gun, then you can “barter” with the gold bugs after the fact. If you believe in bad inflation, then why not just by oil instead, something that has real world value.
Well. Even if there is an economic collapse, I guarantee that there will still be prostitution. If there is prostitution, there is pimps. What do pimps love? That’s right, GOLD! Gold teeth, gold chains, gold rings, gold pimp cups. Looks like a sound investment to me. Oh, and the silver? Um. Make bullets in case there is a werewolf outbreak. That solves that! You’re welcome!
That extreme is so unlikely. You are talking about life as we know it ending-like a giant volcano erupting or being hit by a large meteorite.
So long as a man can work, gold and silver will have value. Gold and silver *are* value. Nevermind how much currency you can buy with your gold, that is not important because in bad times people will gladly accept your gold or silver without needing to convert. In fact they would not even want you to. This is similar to US travelers that have ventured into foreign countries where the native currency is worthless; they beg you to spend your dollars there and in some cases do not even accept their own money from you.
Do your ideas stand up to history in which these metals NEVER IN RECORDED HISTORY have been worthless? If you doubt their value, you doubt the existence of value in anything.
It certainly makes sense to have other things of value available. In all cases possible, food, water, land, guns, gasoline, livestock, non-hybrid seeds and such are the best investments. But you will need things of liquid value too. The former are things that are easier to pillage, steal, confiscate via government or outlaw. Gold can be hidden.