When one thinks of the hallmark of elegant jewelry, gold quickly comes to mind. This precious metal is literally the gold standard to which other precious metals are often weighed against. When asking for reasons to buy gold jewelry, it can vary from person to person or even occasion to occasion.
Why You Should Buy Gold Jewelry Now
For many people, gold can be a good investment. Instead of money, this precious metal rarely decreases in value and does not become as volatile in the market. If you’re thinking of buying gold jewelry, here are a few pressing reasons to start today.
The Gift of Gold
Many people associate jewelry as a gift or a symbol of one’s relationship with another person. Engaged couples buy engagement rings or couple rings to officially seal the seriousness of the relationship. Wedding rings symbolize the vow that married couples take to spend their lives together forever. Even jewelry that a person buys for oneself can be a symbol of status or achievement, a reminder of an experience that’s worth celebrating.
One of the reasons why you should invest in gold jewelry is that it can become a lasting symbol for a relationship. While it’s true that deep relationships do not need accessories to highlight the meaning behind it, having a constant and permanent reminder of this can be a person’s preference.
This may be applicable to people who have a high sense of sentimentality. Even the smallest stone or the most diluted gold jewelry can mean the world to a recipient, especially if it comes from the person they value and care about the most.
Heirlooms to pass to generations
Just because many jewelry pieces are given in relation to romance does not mean this is the only reason to get or give them. In some cases, jewelry can be passed on in the form of heirlooms. Some families have their own pieces that have passed hands for generations. Their value may not change, but to the recipient, they become the symbol of the family handed down to the next generation.
At the same time, Marketwatch states that this passing on of jewelry, especially heirlooms, is also a way to empower and provide for the other person. Because gold jewelry is something worth investing in, you may literally be passing on future resources that can help the young ones later on. When one is given jewelry as a gift, the expectation is that they are free to do whatever they may want with the piece.
A Hypoallergenic, Meaningful Trinket
Whether you are buying jewelry for wear or for gifting, you have probably asked the same question: Is it good to buy gold now 2020? Some studies have shown that more millennials are opting out of the jewelry loop because they have other pressing needs that they have to acquire more than accessories.
Just because gold is usually used for these jewelry pieces does not mean one has to be limited to them. Evaluating the quality of a piece of gold jewelry entails more work because it can be the difference between a hypoallergenic gift and a rarely-worn item.
High-quality gold can be treated as hypoallergenic because it lacks nickel content. This metal also does not react strongly with other metals, so if you are looking for a good gift to give to a person with sensitive skin—or if you yourself need similar accessories—then this will be the perfect metal to build your jewelry wardrobe with.
However, there may be trade-offs to having near-pure gold when it comes to the jewelry’s design. The purer and near 24-karat gold is, the softer it becomes, making it harder to create pieces that withstand everyday wear-and-tear.
The confidence of gold
Because of its link to tradition and power, gold also allows for a transformative aura to its wearer. Gold has the classic touch of tradition combined with the mature femininity in jewelry taste. Consider its close relative, the rose gold. Despite the hype that surrounds this metal, it is considered a more youthful material.
For most women, the first jewelry that they bought for themselves usually features gold. Not only is it long-lasting, but it is reminiscent of the jewelry of royalty. Additionally, gold can be worn for any occasion, which makes it a very flexible and adaptable trinket.
Holding a Piece of Culture
Some jewelry enthusiasts see gold jewelry as a possible piece of culture. This happens when you buy jewelry from a different area or country. For instance, Eastern countries who make jewelry prefer using gold for its historic properties. There are some 24 karat gold jewelry pieces that have been designed following the styles and techniques of ancient jewelry-making.
The price of historic jewelry
Of course, these types of jewelry will be pricier. A lot of jewelry pieces hold history within their designs and their materials. More than just an ornament, it holds personal value and adornment that can have different uses.
Even in the olden eras, jewelry craftsmen made these pieces for various needs. For example, Cro-Magnons that came before the Homo sapiens designed bracelets and necklaces early on.
A continuing status symbol
From then on, jewelry makers created pieces that reflected the style and the arts of the time. In Ancient Egypt, artisans used gold that came from the depths of Africa. This became the symbol of the power of the people. Only the affluent had the means to wear gold. Other cultures like the ancient Greeks used different materials, including silver, ivory, and gems to create jewelry.
Before, jewelers were not yet concerned with asking questions on investing in gold jewelry pros and cons. However, jewelry became the currency of one’s status.
The many uses of gold
If you have ever asked, “Why do we use gold to make jewelry?” most jewelers will say that gold is one of the more volatile and adaptable metals for jewelry. Some of the biggest favorites in jewelry metals are a mix of gold and other alloys.
Rose gold contains more nickel mixed into green gold to create the charming copper gold color. White gold, which carries a higher value than silver despite the similar tones, also takes from this metal. Gold almost seems like a good foundation to mix metals. Even when one deviates from the traditional yellow gold, you may still be wearing gold in your jewelry.
Jewelry beyond accessories
That’s not to say that jewelry remains in the realm of adornment. In earlier periods, people used jewelry for more practical and sometimes sacred uses.
Some civilizations used jewelry in the sacred sense. It became a tool to ward off evil and to protect a person from harm. Thus, a lot of priests and high persons wore unique trinkets that were designed to protect them from harm and to act as a medium for others.
On the practical side, jewelry has also been used either as markers of gifts or as dual-purpose trinkets. Some countries used jewelry as the currency for dowries, whether in a personal marriage or in an alliance marriage. For Italians, jewelry even served the alternative purpose of being a storage place for perfume.
Investment for the Future
The more practical jewelry enthusiast sees gold as an investment for the future. Because gold’s value does not fluctuate with the stock market, its value remains the same regardless of incident or event in the year. In some cases, it’s possible for the value to even increase, depending on the jewelry style.
Make sure that the gold you have can be classified as Class A to get the best investment type. This type of gold does not depreciate even with the inflation accounted for.
So if you are wondering, “Is it OK to buy gold today?” note that this was the habit for the earlier Chinese and Indians. Historians believe that they wore jewelry as a hobby, but also imbibed in them the ability to become the fallback for hard times.
The third best investment: Gold
If the lack of inflation is not enough, you can also look forward to gold jewelry being a wearable investment. Next to land, jewelry may be highly unaffected by other factors.
Since gold is a commodity, it’s hard to expect it to be profitable the entire year. There are some pointers you need to remember, especially if you plan to make a purchase this year.
For those who ask, “What is the best time to buy gold in 2020?” it’s good to look at how gold has performed historically. Historical data suggests that the best price to buy gold even in 2020 was March. This has been the best time for purchasing gold since the 1970s, mostly because the price of gold tends to dip during this month.
Is it good to invest in gold now?
So, why invest in gold jewelry? It’s important to remember that this historical and empirical data is still privy to major changes. While the first quarter is a good bet to get your money’s worth, finding a good deal this year is always better than waiting it out for March of next year.
Because more than the value of gold, many jewelry enthusiasts also look at the value of the design and the precious stones for the pieces they buy. Not all the reasons to buy gold jewelry depends on profit. Your taste can very well be a major contributor to this important decision.
The Boom of Ethical Jewelry
Investing in jewelry now may actually be better than in the past. Beyond prices, it is also because the trend and demand for ethical jewelry have been on the rise. Nowadays, even the jewelry industry has recognized that finite resources for future materials may limit the options and the offerings that one can have for jewelry. Because of this, two movements emerged to explore other ways to obtain gold apart from mining.
The recycling route
There is one issue to keep an eye out for. If you want to reap all the benefits of gold investment, including having an ethical portfolio, recycled gold may be the way to go. However, recycled gold cannot always assure this as it may not always have documentation from start to finish.
Some jewelers could trace their material from the supply house. However, the origin of the metal and how it was sourced and obtained may not be easily traced.
Other jewelers take issue with recycled gold because it does not deter some questionable practices in obtaining the metal. Data supports the fact that a growing portion of gold used in different jewelry and other raw materials may now come from recycled gold. However, this movement alone may not be enough to stop other miners from resorting to old ways.
In other words, it may not be the most effective solution, especially if the goal is to create better investments that do not harm the environment.
The road to fairtrade
One other solution that may fairly and effectively answer the question, “Is gold jewelry a good investment?” is the practice of fairtrade. This movement emphasizes the proper ways that mining can be responsibly done.
Some jewelry makers and designers who have joined this movement opt to work with small-scale miners who follow proper protocols for ethical mining. One of the advantages of this movement is its focus on people. With large-scale mining, the goal is to create the best profit through processes with the least investment.
On the other hand, more ethical mining with smaller-scale miners tends to focus on the people who are involved and the community that they work with. Small-scale miners aim to responsibly take metals because they are also aware of the issues of the area.
By focusing your efforts on investing not only in good jewelry but ethically obtained pieces, you may become a more responsible and ethical jewelry enthusiast.
Owning gold jewelry does not have to feel like a burden or a guilty pleasure. It’s not bad to like sparkly things, but you can also turn this love for jewelry into an investment beyond yourself through these small but ethical choices.
If you want to learn more about ethical jewelry, check out “Lab-Grown Diamonds: Are They Worth It?” to know more about these lab-grown gems.