Gold Hits a Record High!

If you’ve been paying attention to the prices of Gold and Silver, you’ll already know that in early August, the price of Gold surpassed $2,000 an ounce for the first time in history. The previous record high was in 2011 when Gold hit $1,921 an ounce. There are many different factors that affect the price of precious metals, and here are just a few… 

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The U.S. stock market vs. Gold

Human civilization’s storied relationship with gold dates back millennia, from serving as the universal symbol for wealth in ancient times to backing the American dollar up until 1971. In more recent decades, gold’s standing within the global economy has become a bit more obscure as the stock market has grown to dominate how we view modern investing.

Despite this shift toward stocks and bonds, gold is still a highly valuable and important asset that has its place alongside more contemporary means of wealth. Here’s a bit of background on how gold and the stock market interact with one another and why gold is still a worthwhile investment instrument in 2020 and beyond.

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How to sell your wedding ring online

Selling your wedding ring can be a difficult and emotional process, regardless of the reasons behind it. Whether you’ve recently gone through a challenging divorce, are dealing with the death of a spouse, or are simply looking to upgrade an old ring for a more modern or elegant option, we are here to help.

Here are some tips on how to sell your wedding ring or engagement ring while ensuring you maximize its value.

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How to tell if an item is gold or silver

To the untrained eye, it can be difficult to tell if a piece of gold or silver jewelry is genuine or simply a close representation.

Whether you’ve inherited some jewelry or would just like to know its value, here are some simple steps you can take to help identify the legitimacy of your jewelry and to see if an item contains gold, silver, or platinum.

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Four Amazing Uses of Precious Metals in Medicine

Gold Guys four amazing uses

A customer recently stopped by The Gold Guys in Duluth, MN, asking if we buy silver. He told me about the silver plated door knobs in his late 1800’s home. He theorized that the homeowners installed the silver plated door knobs to provide protection from spreading microbes, much like the hand sanitizer or antibacterial soaps do for us today. As a precious metals assayer, as well as a current doctor of pharmacy student, this customer’s story sparked my interest on the medicinal uses of precious metals today.

#1 Silver has Antimicrobial Properties

Apparently, the antimicrobial effects of silver utilized by the Duluth, MN, homeowners in the late 1800’s are still taken advantage of in modern medicine. Silver carries out its antimicrobial action when silver ions bind to and disrupt protective microbial cell membranes, inhibiting enzymes needed for survival  inside the microbe’s cell and iGold Guysinterrupting DNA replication needed for the microbe to replicate. Silver is considered a broad-spectrum antimicrobial, meaning it can act on a wide variety of microbes including bacteria and fungi. Silver is used in topical preparations, like CURAD® Silver Solution, to provide antimicrobial protection during wound healing. Bandages are also prepared with embedded silver particles, like Actisorb, as a dressing for wounds. In hospitals, silver medical equipment (surgical tools, needles, door handles, etc.) are being utilized more to help prevent the spread of the “superbug” MRSA. Additionally, prescription topical drugs, like silver sulfadiazine, are used to prevent infection in patients with severe burns. 

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