Will Today’s Quieter Covid-19 Social World Cause the Value of Gold to Fall?

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Written By Barry Lenson

Marie Antoinette apparently wore a lot of jewelry. When you jump ahead to our century, you see that gold has hardly lost its popularity among celebrities. A few decades ago, Mr. T of The Mod Squad wore huge gold necklaces and medals.

Although you might think that the current cancellation of big-scale social events like the Met Gala have driven celebrities indoors, current new stories reveal that today’s A-List celebrities are still wearing a lot of gold jewelry when they go out and about, even just to buy a bag of bagels on the weekend.

Gold Jewelry on Display

Some Examples . . .

  • A Pinterest board called Who’s Rockin’ Gold Chains shows pictures of Selena Gomez, Brad Pitt, Albert Pujols, Rihanna, Sean Combs, Jennifer Aniston, Aisha Taylor and other celebs, all wearing gold. And there is a picture of Kanye West wearing gold chains so big they look like he borrowed them from Mr. T.

  • “Is Gold Jewelry Coming Back in Style in 2020,” a post on the AFashion Blog, notes that all colors of gold – yellow, white, rose and even pink – are still hot among fashionable people this year. The post also mentions that people are recognizing the intelligence of buying and wearing gold that has lower Karat ratings, because it is less likely to scratch or wear than 24K gold is.

  • “Celebrities are Loving Tribute Jewelry,” an article in US Magazine last January, explores a new trend in celebrity self-adornment. The article reports that more and more big-timers are wearing jewelry that displays the names of their loved ones. Jennifer Lopez, for example, has been wearing two gold earrings (she has two ears, after all) that are engraved “Alex” and “Jennifer” (for hubby Alex Rodriguez and herself). Kate Middleton has been wearing an elegant gold pendant on her necklace that is engraved with the initials of her three children. And Heidi Klum, not to be outdone, has been wearing an immense gold earring that displays “Kaulitz,” her new last name.

Pandemic or No Pandemic, People Are Still Enthralled with Gold

That makes sense, doesn’t it?

Gold has never lost its allure or its value, despite some of the most calamitous events in the history of the world that have included the fall of the Roman empire, the Black Plague, the French Revolution and the two World Wars.

And we can feel secure in our prediction that even though highly wealthy and visible people have curtailed their appearances and social engagements, the overall value of gold and gold scrap is not about to fall. People are not going to lose their interest in gold, because they never have.

Furthermore, the price of gold will continue to soar, just as it has over the last weeks and months.

Our advice to you? If you have gold scrap of any kind and you are thinking about recycling it and cashing in now, give us a call at 800-426-2344 and talk to our gold refiners. Even if you are not thinking about selling your gold scrap (or platinum scrap or silver scrap), you can still benefit from the advice and perspective that our consultants can provide. 

Barry Lenson
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