Since ancient times the purity of gold has been defined by the term karat, which is 1/24 part of pure gold by weight. Pure gold is equivalent to 24k. Gold purity may also be described by its fineness, which is the amount of pure gold in parts per 1000. For example, a gold ring containing 583 fine gold has 583 parts (58.3%) gold and 417 parts (41.7%) of other base metals.
Today's gold price on the NY spot market:
Products with 18k yellow gold
Federal Trade Commission rules require that all jewelry items sold in the United States as gold shall be described by "a correct designation of the karat fineness of the alloy". No jewelry item less than 10k may be sold in the United States as gold jewelry.
Parts Gold: 18/24
Gold percentage: 75%
USA markings: 18k
European Markings: 750
Recycled gold (or Eco-Gold) is an environmentally friendly way to enjoy the beauty of gold and reduce the impact of gold mining to the environment. The metals recycling business is the second largest source of gold, silver and platinum worldwide. An estimated 25% of the gold supply globally is generated recycling, equaling approximately 35 million ounces of valued at over $32 at the price of $900/ounce.
Demand for gold in 2009 has been dominated by financial investors, which might even reach almost 25% of total demand. The bulk of gold demand remains with jewelry, which should be slightly above 50% in
2009. Overall, gold demand should come in at 3,900 tons. Almost 60% comes from mining and the rest (around 30%) is primarily from old gold (scrap) supply. Mining supply has been on the decline by
around -0.5% per annum over the last five years. This trend is likely to continue in aging mines.
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