Diamond & Jewelry News, Advice and Prices for Consumers
Diamond & Jewelry News, Advice and Prices for Consumers
June 18, 2010
I was always under the impression that gold is much more expensive than jewelry, but after looking for jewelry pieces online it seems that silver is quite expensive, in some cases even more than gold. Which metal is more expensive of the two today?
June 27, 2010
Generally speaking, silver and silver jewelry is 1/7th of the price of gold jewelry. Silver was once one of the most expensive metallic alloys to be mined, yet ever since the discovery of massive amounts of silver deposits in North America and South America, silver prices have significantly declined. Precious metal values are a direct result of the abundance of a given metallic alloy. That is, the rarer the substance, the more expensive it'll be. Therefore, one can assume that gold is not as abundant as silver is. However, it would be wise to follow the current precious metal market for a better understanding of gold jewelry and silver jewelry prices. Though it is true that silver will always be cheaper than gold, silver prices can fluctuate enormously. I recommend you keep appraised of gold and silver prices when contemplating your purchase.
June 22, 2010
According to traded gold and silver prices, it's easy to see that gold is much more valuable than silver. As of September 2009, gold is traded at $1048.90 USD per oz, while silver at only 17.70 USD per oz, making gold almost sixty times more expensive than silver. Due to the fact the gold is actually much rarer than silver, gold is naturally more valuable and expected to be much more expensive. Having said that, there are cases where gold jewelry could be much cheaper than silver jewelry, mainly in cases where gold is mixed with other less precious metals to make an alloy.
