The term .585 gold refers to the purity of the gold in question. This standard of purity is equal to 14-karat gold, which is why the terms are used interchangeably. Gold that is considered 14 karats or .585 contains 10 parts alloy blended with 24 parts gold.
When 14-karat gold has .585 or greater gold content, it is considered to be plumb. This is often stamped as 14kp or .585. This distinction is necessary because 13.5-karat gold is often labeled as 14-karat gold. Unfortunately, many consumers mistake the P for plated when it actually indicates a higher-quality piece of jewelry.Learn More
The current price of gold can be found in the commodities sections of CNN Money, Reuters, the Financial Times and the Wall Street Journal. Prices are typically listed in troy ounces.Full Answer >
A number of underlying factors support gold price fluctuation, but the primary reason for constant changes is that gold and gold derivatives are traded daily on several exchanges, according to Fink's Jewelers. Investors base buy and sell decisions on relative supply and demand factors of gold.Full Answer >
The $20 gold piece was a coin minted in the United States from 1849 to 1933 that contains slightly less than one ounce of gold. Two versions of the $20 gold piece, which is also sometimes called the Double Eagle, were minted during its 84-year production run.Full Answer >
COMEX, the New York futures market for gold and other precious metals, is listed on many business and financial websites, including CNN Money, Bloomberg and NASDAQ. Since gold is a commodity future, it can be followed on most sites that track the stock market.Full Answer >