As Gold Jewellery Prices Rise, Learn How to Spend & Save
The price of gold has surged in recent years, proving it still has the power to perform when other assets are struggling. This month the UK market hit a high of £49 per gram, compared to four years ago when it was just £31. What does this mean for your gold jewellery addiction? Well, it’s about to become pricy! Whether you’re a fan of chains and necklaces, or earrings and bangles are more your thing, we’ll be looking at how you can invest, save and even make some cash.
You might assume rising gold prices only apply to yellow gold, and that rose gold or white gold may still be cheaper. Most people consider yellow gold to be the ‘purest’, as raw gold has this colour when it has just been mined. However, all gold used in jewellery is an alloy, made by combining gold with other metals, as alone it would be too soft to maintain its shape. So, when buying or selling any type of gold — yellow, rose gold or white gold — the purity of the gold and other metals used will help determine the value.
Just because the price of gold is at a high, it doesn’t stop you from lusting after some new pieces for your collection or a perfect present for a loved one. So, how can you treat yourself or a friend to a new gold necklace and earrings without breaking the bank?
The first option is plated gold. This means real gold has been thinly layered on top of a non-fine material (usually brass or copper). The whole point is to use as little gold as possible, so it will be cheaper, but the thin plating can wear off fast and leave the metal beneath showing through.
The second option is gold-filled jewellery. While most people have heard of gold-plated, gold-filled jewellery is less well known despite its many advantages. As with plating, a non-precious metal is covered in a layer of gold. However, the difference is that the layer is much thicker. This means the jewellery looks the same as solid gold jewellery and can last many years, so you’ll have a quality piece for a fraction of the cost. For example, gold-filled jewellery ranges from about £18 for a bracelet and £70 for a bracelet and necklace set. It’s perfect if you want the quality of gold jewellery without the price!
You may be thinking this is a great solution as you can now start buying some new jewellery… you may also be wondering about the value of your existing gold jewellery collection. If you have any non-sentimental items you’re willing to part with, now is the time to sell! You can sell your solid gold jewellery, get a great price for it, and then even invest in similar-looking pieces that are gold-filled. No one will be able to tell and you’ll get to pocket the difference!
Check out our range of filled gold jewellery today.