2. Material
1.
The primary point of difference between gold
and silver jewelry lies in the materials used.
Gold jewelry is made of gold, while silver jewelry
is made of silver. Silver is often mined alongside
Gold, found together in the form of an alloy
called electrum. Processes such as gravity
separation, amalgamation, froth flotation, and
cyanidation are used to recover these metals
from their ore.
3. 2.Value
Gold is generally more valuable than
silver. Gold has been historically
considered a precious metal and is often
associated with luxury and wealth,
making it more expensive than silver. The
weight of gold is measured in troy ounces
(1 troy ounce = 31.1034768 grams), while
its purity is measured in 'carats’. Silver is
also meaured Troy ounces.
4. 3.Durability
Gold is a highly durable metal that
doesn't tarnish easily, whereas silver is
relatively softer and prone to tarnishing.
Gold jewelry is less likely to get
scratched or damaged compared to
silver jewelry. Usually copper is added
to silver to add strength.
5. 4.Color
Gold has a distinct yellow hue,
whereas silver has a bright white or
gray-toned. It suits people with
warmer skin colour while silver has a
cool effect. Gold can also be alloyed
with other metals to create different
colors such as white gold or rose
gold.
6. 5.Allergies
Wearing certain metal jewellery can cause
allergies. Silver jewelry is generally
hypoallergenic and suitable for most people,
while gold jewelry can cause allergies in rare
cases, especially if it contains other metals
in the alloy. Silver jewelry is a safer option
for people with allergies.
7. 6.Fashion
The popularity of gold and silver jewelry
can vary based on fashion trends. For
example, in traditional Asian societies
gold jewelry is heavily used during
weddings and other occasions. Silver
due to its toned down colour is suitable
for a wide age group and also for
different occasions.
8. 7.Maintenance
Silver jewelry requires regular polishing to
prevent tarnishing, while gold jewelry
requires minimal maintenance. Silver is
prone to damage due to its softness
compared to gold. Gold's resistance to
tarnishing makes it more convenient for
everyday wear.
9. 8.Availability
Silver is more abundant and widely
available compared to gold. Silver
deposits are nearly 20 times as common
as Gold. This can influence the pricing
and accessibility of silver jewelry in the
market.
10. 9.Symbolism
Gold has symbolized wealth and power
throughout history. The Romans,
Greeks, Egyptians, Indians, Africans or
Chinese – used gold extensively for
making ornaments. Silver, on the other
hand, symbolises elegance, grace, and
versatility.
11. 10.Marketdemand
Market demand for gold and silver jewelry
can fluctuates. Out of the two, silver is
more volatile. The volatility in silver prices
can be two to three times greater than
that of gold on a given day. The gold
demand value in Q1 2023 was Rs 56,220
crore.