Gold was always a highly coveted element. It was used since the beginning of recorded history for precious jewelry, sculpturing and ornamentation. It’s one of the softest metals and does really care about air or water like many of his metal friends.It is estimated that over the years, we've mined a total of 160,000 tonnes of gold and today gold is present anyplace where there are people and man-made products, from medicine, food, electronics and even your wedding finger.
Like many precious metals, the gold’s weight is measured by troy or grams. The day’s gold value is known as the London PM Gold Fix. The purity of the gold is measured with “carat” or “karat” when 10kt is 41% percent pure, 14kt is 58% pure, 18kt is 75% pure, 22kt is 91% pure and finally 24kt is 100% pure.
So for example, if gold is trading at $1000 per day and your selling gold that's 14kt pure - then its value is $580 less the refiner cost to melt, refine and any profit they look to make.
Why is gold so desirable and expensive? Maybe this interesting video can help:
If you want to know more about gold and about the worth of your gold and jewelry, visit us at www.jewelryscrappers.com and check out our Guide to Selling Gold.
