How The High Prices Of Gold Affected People Worldwide?
Now days Gold is considered as a hard cash because of its high price and demand in gold market. Gold prices are increasing day by day and its remarkable increase is noted in last few months. The purchase of gold has become almost unaffordable for the general public that has affected the sell of gold worldwide. Due to high prices of gold jewelry, now people prefer to buy imitation jewelry for parties and wedding ceremonies.
The increase in gold rates has also increase the worth of gold world wide. Those people who have gold jewelry, they are avoiding selling their gold jewelry and waiting for the further increase in gold prices.
Few years back, the gold rates are not too high so people were able to buy gold sets but the sudden increase in its prices made it difficult to buy even a gold ring or a pendant. Few years back, People used to give gold jewelry as a wedding or birthday gift to their close relatives but now they prefer to give cash instead of jewelry because they realized the high gold rates has made difficult to the purchase of a single ring for giving as a gift.
Those people who bought gold jewelry few years back, their jewelry is like a blessing for them because its remarkable increase in rate has increased it prices 5 to 10 times as compare to its old prices and they can get a good amount of money by going to sell old gold jewelry if ever they face any financial crises.
So, in simple words you can say that if you have gold you can feel that your future is secure and it will be a good source of money if ever you needed for your children higher education or wedding, for buying property, for any unexpected health issue or any other expense.
While talking about the importance of gold in our life, we cant ignore this fact that the gold prices are higher when you go to buy it but when you are willing to sell gold jewelry or sets, you don’t get good prices because while buying gold sets, you also pay the price of stones and making of your set along with its gold weight prices but when you go to sell old gold jewelry, they cut off many charges like making and stones engraved in the jewelry.
The remarkable increase in gold rates has also made it a safer way of investment of money as compare to other mode of investment of money like property and stock exchange because in case of gold, the chances of reduction of gold prices in world’s gold market is almost Zero while the prices of property and stocks shares is always variable and it may face a sudden decline while in case of gold it’s never seen.
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