It has never been a better time to purchase gold from Stephen Dibb Jewellery in Brisbane
Mid last month gold had its biggest percentage fall in 30 years to a low of $US1,336 from the record high of $US1,920 in September 2011. Why? As per the article, “Economists like to pretend that there is a logical answer for everything. But sometimes markets move for no particular reason other than emotion.” This is especially so for short-term swings, which is what this is most likely to be.
Just a month later and the prices is back up to approximately $US1,392. All this must be set against the reality that “The price of gold is still up five times since 2000 when it traded around $US280”.
Why is gold valuable?
Gold is a beautiful and luxurious metal.
There are 3 reasons. The first is its beauty and wonderful properties. Gold is a noble metal. The noble metals are an elite group of metals that have outstanding resistance to oxidation and corrosion. Gold is very workable, it can be cast, filed, hammered, polished and manipulated to securely hold gems. Here at Stephen Dibb Jewellery in Brisbane I have spent my life working with this magnificent metal and I still find it fascinating.
Rich gold is the perfect metal to match lustrous diamonds both clear and coloured
The second reason is its scarcity. All the gold already mined is about 165,000 metric tonnes. It would make an approximately 67 feet (just over 20 metre) cube. Currently there is about 2,500 tonnes of gold mined each year which would make an approximately 16.6 feet (5 metre) cube. There is estimated to be only 50,000 metric tonnes of gold left unmined. South Africa has about 50% of the world’s known stock of un-mined gold. Other major producers include Australia, the U.S.A, Russia and Canada.
The third reason is its use as an investment. In times of economic uncertainty is provides a good alternative to paper currencies because its value doesn’t erode over time due to inflation or the printing of additional currency.
What does this mean to you as jewellery connoisseurs? With the gold price down and the Australian dollar strong it is a great time to purchase jewellery from Stephen Dibb Jewellery in Brisbane, but isn’t it always?
If you would like to select a luxurious gold piece of jewellery from one of our collections please visit our Holland Park or Cleveland studios or contact us.