Bold Gold soars above the cost of Precious Platinum
By Andrea Harrell
, Wednesday, August 10, 2011
By Andrea Harrell
, August 10, 2011
These days, who doesn't want to get the most bang for their buck? With the economy in a downward spiral, educated shoppers want to make budget friendly purchases that stay on pulse with the latest trends.
Ordinarily, fine jewelry consumers will yield a little leeway to their pocket books when hunting for the perfect diamond or ring setting. Precious metals and gemstones are considered assets that generally maintain a consistent value. Yet with the uncertainty of our economy, the price of gold continues to appreciate. The commodity markets have verified the price of gold per ounce is more than that of platinum. Trendy yet budget conscious jewelry shoppers may be prematurely excited, but let's unravel the facts…
Let’s say you’re searching for a tiffany style Solitaire Engagement Ring for your one carat G VS2 round ideal cut diamond, the difference in price may determine whether your final selection is 14K white gold, 18K white gold or platinum. Since the cost of gold per ounce has risen today above the cost of platinum for the first time since 2008, then why is a platinum ring setting still more expensive than a gold one?
14K gold jewelry is made with 58.5% pure gold and the other 41.5% is made with a combination of other alloy metals, while 18K gold jewelry is made with 75% pure gold and the remaining 25% is made with a combination of other alloy metals. Platinum is a more dense metal compared to gold, and most ultra fine platinum jewelry is made with a high platinum content being 95% pure leaving it to consist of only 5% of other platinum group metals (e.g. iridium, ruthenium). With platinum being denser and a higher purity level than gold, buyers will still have to pay more for platinum
Cost will always be a factor as you finalize your choice for the perfect ring, but as the undying idiom states “you get what you pay for”.