Can anybody pls tell me cost of gold in melbourne , australia?

Question

Can anybody pls tell me cost of gold in melbourne , australia?

Answer 1

when you watch the news, the gold price is on there 3 times a day, if you want to go buy rings and bangles etc, just shop like normal.

Answer 2

At the moment Gold is very expensive to buy (You may notice whilst looking through jewellery catalogues that the price of gold jewellery has increased in value).

It is currently selling for $ 971.23 per ounce in Australian Dollars (as at 19:36 NY time on 9 July, 2008) http://goldprice.com.au/

Gold is a commodity and if you check out the Financial section of any major newspaper commodities go up and down in price.

In times of conflict, war, world uncertainty, gold which was originally a form of money, is often purchased, so that if the countrie's paper money becomes valueless, the owners of gold have something they can barter with, because of it's value.

However, with gold jewellery you need to be careful, it's retail value on the high street is high, it's scrap value, which is what most jewellers would pay if they brought it back from you is much lower.

The increase in price of gold also has something to do with the rise in oil prices. It's a matter of supply and demand. Those things that are in short supply become expensive because there is not enough of them to meet the demand of the population. Gold is very rare and therefore it is very expensive.