Precious Gold and Platinum Buying Guide

Nov. 16, 2010 - PRLog -- Gold: The timeless choice

Gold jewelry is very popular today and available in more styles, colors, and finishes than ever before. It is also a popular choice for setting gemstones. But it is very important to understand gold, and differences that affect price, in order to avoid confusion about the wide range of prices that seems to pervade the market for what may appear to be the "same thing." As with gems, wherever there are significant price differences there are usually quality differences. The key to getting value in gold is understanding what accounts for differences in quality and price.

What is gold?

Gold is one of the world's most precious metals. It is so soft and workable that one ounce can be stretched into a five mile long wire, or hammered into a sheet so thin that it could cover a hundred square feet. It is one of our rarest metals, and since pure gold doesn't rust or corrode, it can last forever. Interestingly, gold is present almost everywhere around us; in the earth's crust, in seas and rivers, and in plants, but it is very difficult and expensive to extract. Approximately two and a half to three tons of ore are needed to extract one ounce of gold.

Most gold used in jewelry is an alloy

Gold is the most popular metal used for jewelry today. The simple gold wedding band probably accounts for more of the world's gold than any other single type of jewelry. But pure gold is very soft so it is usually mixed with other metals to make it stronger and prevent it from bending too easily. When two or more metals are mixed together, we call the resulting product an alloy. Most gold used in jewelry is an alloy; and the metals added to the gold are also called "alloys."

What is a Karat? Or is it Carat?

In jewelry, the term carat (or, Karat) has a double meaning: carat is used as a measurement of weight for gemstones, with one carat weighing 1/5 gram; carat is also used in countries around the word to indicate the amount of pure gold in a piece of gold jewelry. In the United States, however, when using the word to indicate gold content rather gemstone weight, it is spelled with a "K;" hence "karat," to avoid confusion. Jewelry should always be marked to indicate how much pure gold it contains.

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