The price for gold are based on “Precious Metal Index rates”
As well as being an adornment, gold plays a vital role in the stability of the world economy as a store of value. Central banks keep gold reserves to support the value of their currencies, and owning gold yourself (in the shape of bullion or Krugerrands) can help you achieve your own financial stability.
Gold is a remarkable metal: it is so malleable that it can be hammered into a thin enough sheet to be transparent. The visors on astronaut helmets contain very thin sheets of gold, for example. Gold is very ductile, which means that it can be drawn out into a very thin wire. It is also an exceptionally efficient conductor of electricity. It is believed that 85% of the gold ever mined can still be traced. Every ounce of gold ever mined could fit within a cube with sides of just 20 meters. Gold’s value is due in part to its scarcity, but also its importance in banking and its usefulness in technology manufacturing. Gold jewelry can be melted down and reshaped into a new creation (also this results in a 10% loss by weight). This capacity for reinvention further adds to gold’s appeal and fascination.
Gold plays an important part in human culture, from Olympic gold medals to wedding rings to be synonymous with quality and achievement. The city of Johannesburg was founded on gold, and many people have gold dental fillings. The smartphone you’re using to view this website contains around 50mg of gold contacts, worth around R6.50 The story of gold is as old as civilization, and it will endure longer than all of us. If you own gold and want to convert it into cash, our buying process guarantees you privacy and security.