Style trends are really important in society and many people love fashion and follow these trends religiously. The current trends are always evolving and changing, most trends last a season at max before a fashion designer comes up with a new trend that people fall in love with and use as inspiration for their wardrobe. It is sometimes difficult to imagine previous fashion trends being worn in our current society, for example it would be unlikely to see people going out in hippy pants, jewelry with big peace signs on and bell-bottomed blue jeans like they did in the 70’s. There has been plenty of different styles over the years from baggy clothing from the grunge era to tartan skirts from the punk era. The reason that there has been so many fashion trends and that they’re always changing is because people change, with new influences in society comes new style trends. The biggest influence in style trends is popular culture, people and style trends are influenced by celebrities such as movie starts and musicians. One thing that people don’t realize is that style trends can actually impact the worth of gold.
How do style trends impact the worth of gold?
Like the value of anything, the value of gold is based on the demand for it and the available supply. One of the biggest industries that have a huge demand for gold is the fashion industry as gold jewelry has always been popular, throughout all of the changing style trends, gold jewelry has always been a staple piece. It has never gone out of style and wearing gold always makes an outfit look classy and expensive. As jewelry accounts for over half of the demand of gold, this means that the popularity of gold jewelry can increase the worth of gold. This also works the other way, recently the latest style trends are starting to contain more silver jewelry, in particular silver necklaces for women are replacing the long-time trend of gold necklaces. This is having a huge impact on the demand for gold which is leading to the worth of gold being reduced. However, it is unlikely that gold jewelry will ever go out of style, this means that the value of gold will stay pretty high as there will always be a lot of demand for it.
What else affects the worth of gold?
There are many other industries that are responsible for a significant amount of the demand for gold. Almost 10% of the demand comes from technology and industrial uses of gold, this is very broad but some of the things here that gold is used for includes manufacturing many medical instruments, for example to produce stents, an important medical tool, gold is required. Another huge demand for gold comes from investments. Even at its lowest points gold has always been seen as a safe investment for people to put their money into. Investing in gold is a great way to boost your investment portfolio and make your future profits feel much safer and more secure. More and more investors are starting to realize just how good an investment gold is, this is evident as in the last decade the amount invested into gold has increased by over 200%. These investments will help to make the worth of gold less volatile and play a huge part in the value of gold as if every investor were to sell, the worth of gold would drop rapidly, just like any other investment.