Gold is expensive because there are limited quantities available. In addition, it is expensive to produce, which also drives up the overall cost.Know More
Gold tends to be one of the most expensive metals on the market. The primary reason for this is because it is hard to find, and when it is found, it can be difficult to extract from the earth and produce into the desired form.
The price for gold is set on its demand. Because it has been used as a form of money throughout the history of society, it also varies based on economic conditions. Generally, when the U.S. dollar is considered weak within the economy, more people will invest in gold because they feel like it will always have significant value in the marketplace. This also drives up the price.Learn more about Precious Metals & Gems
Gold is usually mixed with copper, zinc or silver to create an alloy suitable for use in jewelry. The ratio of gold to other elements varies, depending on the karat and the gold color.Full Answer >
Hard to find in nature and durable enough to remain in perfect condition for centuries, gold is unlike any other metal in the periodic table. It has been used as currency and as a means to display wealth and power for centuries, particularly among royalty historically.Full Answer >
The high value of gold is driven by three factors: its practical applications, the largely aesthetic desire people have for it and the perceived protection it grants investors as a hedge against currency fluctuations. According to Jerry Bowyer for Forbes magazine, the cash value of all the gold that has so far been extracted amounts to roughly $10 trillion.Full Answer >
One of the most effective ways to test your gold is to use gold testing acid. You need nitric acid, a dropper, rubber gloves to protect your skin, safety glasses, a plastic plate and a piece of gold. The process takes a few minutes.Full Answer >