Gold and silver prices
The price of gold and silver is determined on the world markets. The London Bullion Metal Association, or LBMA, publishes the price every weekday at 12:30 PM and 5:00 PM Finnish time. The official market price for gold and silver is quoted in dollars and troy ounces, according to international practice. 1 troy ounce is 31.1 grams. The daily exchange rate of the dollar and the euro also affects the price in euros.
Gold and silver price calculator
Caratia is an online store and shop maintained by KultaRahaksi Oy. If you are interested in selling gold, silver or jewelry, you can do so safely at the KultaRahaksi purchasing point in the Helsinki store. You can also order KultaRahaksi's Gold Package. More information about KultaRahaksi's operations can be found here.
Gold price trend 2000-2020
The trend of gold prices was quite stable at the turn of the millennium. After the start of the financial crisis, the price of gold rose at an accelerating pace until the end of 2012. In 2013, the price of gold per kilo fell quite sharply. In 2014, the price stabilized significantly above the initial level. In 2019, the price of gold started to rise again due to government stimulus measures. The coronavirus has only accelerated the need for governments to create new money in the markets. A new gold price record was set in August 2020.
As of this writing (13.11.2020), the price of gold is approximately 5.6 times higher than it was in 2000. If governments continue their stimulating policies, the gold price trend may accelerate further. Many of our customers have received more money for their gold items when selling them than they originally invested in them.
Gold price trend over the last 12 months
The spot price of gold updates more frequently than the LBMA price we use. For this reason, the spot price of gold may differ slightly from the prices announced by LBMA during the day. Refineries that buy gold use LBMA prices, which is why our calculator prices are also based on them. LBMA determines the price of gold twice every weekday.
Gold price trend in euros and dollars / troy ounce.
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Silver price trend 2000-2020
The trend in silver prices was quite stable at the turn of the millennium. After the start of the financial crisis, the rise in silver prices accelerated until spring 2011. After this, the price of silver fell quite steadily until 2013. After that, the price remained fairly stable until 2020. In July 2020, the price of silver started to rise again.
As of this writing (13.11.2020), the price of silver is approximately 4 times higher than it was in 2000.
In jewelry and sterling silver, the proportion of silver in the item's price is not as significant as in gold jewelry. For silver jewelry, the labor time spent on the piece has greater importance. For this reason, we often pay considerably more for Kalevala and designer jewelry than the value of the precious metal itself.
