Current Price of Gold
Why is gold retail price different from gold market trade price?
There are two options to choose when investing in gold: physical gold vs paper gold. Physical gold is what we sell in the form of gold products, such as a 24K gold necklace. Paper gold is what often referred to as spot gold price or the market trade price, which is the price of gold traded in the financial market. It is determined by gold futures with the highest trading volume.
Why does physical gold cost more than the gold spot price?
LFX purchases gold bullion and manufactures them into beautiful gold jewelry for our customers. The additional cost for selling physical gold is due to cost associated with refining, manufacturing, minting, marketing, hedging, and warehousing the particular gold bullion.
Why is there a different labour fee for different 24K gold products?
All LFX 24K gold products are hand made. After gold bullion is manufactured into particular forms for particular jewelry, our craftsman designs and creates individual unique 24K gold jewelry by hand. Depending on the type of products, some requires a lot more time and specialized skills. For example, some products require gold and silver filigree craftsmanship skills, which only highly skilled master-level craftsman can handle. This skill has been regarded as one of the Chinese Intangible Cultural Heritage.