What do you wear with gold-plating?
Find out the tips and tricks on how to put gold on your watches, rings, necklaces, bracelets, neckchains, jewelry, neckwear and more.
Read moreRead moreThe American goldsmiths guild and the United States Mint, the nation’s primary source of the metal, have issued guidelines to ensure the security of the precious metal, which is used to make jewelry, coins and watches.
According to the American goldshops association, gold is a highly valuable metal, one that has a value of approximately $5 trillion a year.
It is a precious metal that is mined in the United Kingdom, Australia, Canada and New Zealand and can be found in nearly every country in the world, except Antarctica.
Gold is also used in jewellery, watches, braceets, neck chains, neck straps, rings and neckwear.
To secure gold on a watch, ring or necklace, a goldsmith or gold-covered jewelry supplier must ensure that the metal has been gold plated.
The goldsmith is required to apply a small amount of gold powder to a gold-free coating that is applied to the inside of the piece before it can be worn.
The coating is then rubbed with a brush to remove excess powder, then the gold-coated piece is put into a storage case, where it will remain for at least one year before it is sold.
The mint has said it will not accept gold jewelry that is “tainted” by tarnishing chemicals, which are commonly found in jewelry and are not approved for use in jewelry.
Gold-placing is also optional, but if the jewelry is sold as an item for resale, the goldsmith must apply the gold plating first.
The new guidelines were published in the International Business Times, the publication of the American business magazine Barron’s.
“The gold market has experienced a significant boom in recent years, with an expected $2 trillion-plus increase in gold demand over the next 20 years,” the report said.
“Gold prices are highly volatile, and it is critical that gold dealers and retailers adhere to stringent gold safety protocols, including the establishment of gold standards and certification.”
The mint said it has received more than 1,300 inquiries from members of the public seeking advice about gold plation.
It said it is working with its international counterpart, the International Gold Council, to develop guidelines for gold plations.