Price Of Gold Necklace In Philippines
Introduction
Gold necklaces are an essential part of Philippine culture and tradition. They are often given as gifts during special occasions such as weddings, birthdays, and anniversaries. The value of a gold necklace is determined by its weight, purity, and design. In this article, we will discuss the price of gold necklaces in the Philippines and factors that affect their cost.
Gold Prices in the Philippines
The price of gold in the Philippines is influenced by global market trends, currency exchange rates, and local demand. As of August 2021, the price of 24K gold per gram in the Philippines is around PHP 2,900 to PHP 3,000. However, the price of a gold necklace is not based solely on the current gold price. Other factors such as labor cost, design, and craftsmanship also affect the final price.
Types of Gold Necklaces
There are various types of gold necklaces available in the Philippines, each with a different design, weight, and price. The most common types are:
- Figaro – a chain with flattened links, often used for men's necklaces
- Rope – a twisted chain that resembles a rope
- Curb – a chain with interlocking uniform links
- Box – a chain with square links, often used for pendants
- Snake – a chain that looks like a snake, with round and smooth links
Factors Affecting the Price of Gold Necklaces
Aside from the type of necklace, there are other factors that affect the price of a gold necklace in the Philippines:
- Purity – The higher the purity of gold, the more expensive it is. 24K gold is the purest form of gold, but it is also the softest and least durable. 18K gold is commonly used for jewelry in the Philippines as it is more durable than 24K gold and still has a high gold content.
- Weight – The weight of the necklace is a significant factor in determining its price. The heavier the necklace, the more gold it contains, and the higher its value.
- Design – The design of the necklace can significantly affect its price. Intricate and complex designs require more labor and skill, which can drive up the cost.
- Craftsmanship – The skill and expertise of the jeweler can also affect the price of a gold necklace. Experienced and skilled jewelers can create high-quality necklaces that are more valuable than mass-produced ones.
Where to Buy Gold Necklaces in the Philippines
Gold necklaces can be bought from various jewelers, pawnshops, and online stores in the Philippines. It is essential to buy from a reputable seller to ensure that the gold is genuine and of good quality. Some popular places to buy gold necklaces in the Philippines are:
- Jewelry stores – There are many jewelry stores in the Philippines that sell gold necklaces. These stores offer a wide variety of designs and styles to choose from.
- Pawnshops – Pawnshops also sell gold necklaces, but buyers should be cautious as some pawnshops may not offer fair prices.
- Online stores – Online stores such as Lazada, Shopee, and Zalora also sell gold necklaces. However, buyers should be careful when buying online and only purchase from reputable sellers.
Conclusion
Gold necklaces are a valuable and essential part of Philippine culture. The price of a gold necklace in the Philippines is affected by various factors such as purity, weight, design, and craftsmanship. When buying a gold necklace, it is crucial to buy from a reputable seller and consider the factors that affect its value. With proper care, a gold necklace can last for generations and become a treasured family heirloom.
