Gold Pricing And The Cost Of Sustainability – Automic Gold Skip to content
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Gold Pricing And The Cost Of Sustainability

Several Automic Gold solid 14k gold charms on the back of a model's hand

 

In 2017 when the Automic Gold website was first created one of our most popular pieces, the Bar Earring, was $49 a pair. Over the next seven years, the price of those earrings would slowly increase to where they are now, $220 for the pair. While that may seem like such a large leap in less than a decade there are many reasons why these increases have been necessary. 

Why is gold so expensive?

Gold is a rare and precious metal of which there is a finite amount. Gold mining is a difficult process and it’s hardly ever found in large deposits. As the amount of new gold finds decreases, gold costs increase. Currently, gold pricing is at an all-time high, rising from $1200 an ounce in 2017 to over $2600 today. Gold sourcing is also a factor in determining price. Automic Gold only uses reclaimed gold for our gold jewelry which costs more than using newly mined gold.  Aside from the rarity and sourcing of gold, there are other economic factors that increase the cost, like inflation and world conflicts. 

Sustainability

It has always been our goal to create a sustainable company in an industry that historically prefers to do things cheaper and faster to further their own bottom line. In our efforts to decrease our carbon footprint, we ensure our products are crafted using environmentally friendly chemicals and methods for cleaning, polishing, and manufacturing our jewelry. 

Sustainability is not just measured in the impact on the environment but also the impact on society. Our jewelry is made with recycled metals and reclaimed or ethically sourced gemstones to reduce mining. On a more direct level, the raising of our prices ensures that we are appropriately covering the cost of labor for our employees and giving them a livable wage.

So why buy gold?

Gold is a durable metal that doesn’t corrode, won’t degrade over time, and it’s infinitely recyclable. Because of this gold has a plethora of uses, not just in jewelry but for industrial purposes, in electronics, in different fields of medicine, etc… so it will always be in demand. We’ve seen throughout history that ownership of precious metals has helped to ensure survival as it has value everywhere in the world. Gold is so much more than fabulous jewelry, it’s a smart investment.

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