gold is close to $800.00 per oz. ! Why is the price of gold so high but yet last week I could not get $50.00 for my 14kt. solid gold Geneve Watch. My inlaws paid $1250.oo for this watch in 1990 when gold was much lower. The gold buyers store said that the watch is a real gold geneve watch but it is only worth $45.oo ! If i invested $1250.oo in a mutaulfund in 1990 I would have about $3800.00
2007-10-28 23:24:33 · 8 answers · asked by JOSEPH S 2 in Business & Finance ➔ Investing
invest in pure gold coins or ingots...not 14k jewelry for investments....
2007-10-28 23:28:18 · answer #1 · answered by Jake1234 2 · 0⤊ 1⤋
For your watch first:
The price for a 14 KT gold is much lower from a 22KT gold in the market....If you sure that your watch is solid 14KT, then you should get the price of a 14KT gold then multiply it with the total gross weight of your gold. This will give you an approximation of the the price of your watch.
Hope thi s helps....
As to why gold is high:
Gold is getting higher because Gold is being used as a counter part reserve for the value of the total money circulating in a certain country, so the more Gold being place in the reserve banks, the demand is higher as the supply gets tighter, So the only way to go for the price of Gold is to get higher.......
Also, with the current environmental directions to limit mining, Gold mining is also restricted. This also contributes to the limitation of production of Gold....
2007-10-29 06:32:23 · answer #2 · answered by sebastian n 3 · 0⤊ 0⤋
As to watch, your watch is worth 14/22nds of the price of the gold minus the smelting costs. Given other disposal costs and the need for the buyer to make a profit, it might be worth just $50.
As to price of gold, gold prices are correlated with international levels of strife, primarily civil wars but war in general. Gold is an alternate currency used when a primary currency is no longer trusted.
2007-10-29 08:20:08 · answer #3 · answered by OPM 7 · 0⤊ 0⤋
jewelry is the worst way to buy gold as an investment, because it's not. it's marked up to a retail price that could be many times the value of the actual gold content. you are paying for the designer name, workmanship, overhead, etc. the same would be true for a watch. even if the workmanship is first rate it wouldn't matter what kind of a case it comes in; the gold just makes it easier to sell.
2007-11-01 16:18:06 · answer #4 · answered by smekkleysa 6 · 0⤊ 0⤋
Gold is high because inflationary pressure is building, or at least there is the perception out there that it is building.
The price of silver has had an even more dramatic increase.
As far as you watch, try taking it to a few other places so you can get multiple offers. It sounds like someone's trying to rip you off, and you shouldn't let them.
2007-10-29 06:30:14 · answer #5 · answered by Skepticat 6 · 0⤊ 1⤋
Its due to speculation that the Australian Reserve Bank are going to raise their interest rates this week. Australia are a very large exporter of Gold, so when the currency strengthens due to higher interest rates, then it pushes the price of gold up.
2007-10-29 06:30:08 · answer #6 · answered by Itchy1977 4 · 0⤊ 1⤋
it is rare material. it is kept cash reserve of every country in world bank . and it is used since ancient days to present day as money in barter system. more over ladies like gold.
2007-10-29 06:28:46 · answer #7 · answered by vep 4 · 0⤊ 1⤋
the dollar is doing poorly
world debt is increasing
food shortages
inflation is now high
2007-10-29 06:37:09 · answer #8 · answered by Anonymous · 0⤊ 1⤋