updated 19 Jul 2013, 04:29
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Tue, May 07, 2013
The New Paper
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Gold your new best friend?

Forget about diamonds being a girl's best friend. The recent plunge in gold prices has meant that the yellow metal could well be your new BFF.

But before the shopping spree starts, it would be wise to take note of the different types of gold available at jewellers.

It should also be noted that the price you see one day may not be the same the next, depending on the rise and fall of gold prices.

Right now, prices are in flux. So a necklace that cost $3,175 when gold was at its highest, and was only $2,670 in April will now be closer to $3,000 again.

Pure gold is classed as 24 karat, or as 99.9 per cent gold.

In the case of 22k gold, it is 22 parts – 91.66 per cent – pure gold and two parts another metal.

Pure gold was once considered too soft for it to be made into jewellery with intricate designs, so 22k became the standard.

Pure gold used to come only in bars, and 24k gold jewellery is a fairly recent phenomenon.

Jewellers are now bringing in collections in pure gold.While the designs will not be as intricate as those made out of 22k gold, it can still be beautiful, or if you like, an investment you can show off.

– Jennifer Dhanaraj

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