EOSC 118 Lecture Notes - Lecture 4: World Gold Council, Anglogold Ashanti, Blood Diamond
4 Aug 2015
School
Department
Course
Professor
Document Summary
Learning objective: describe some historical and current uses of gems and precious metals, as well as the common appreciation and significance of gems and precious metals across many societies. Consumers are now demanding more information and accountability directly from the sources they are buying from. Rankings may differ: gold has formed heart of much valued jewellery + religious items due to resistance to corrosion, beautiful colour, malleable nature. Today historical principles still have influence on current value but Modern exploration/mining practices & increased diversification of global wealth makes the market accessible to individuals other than royalty/ultra wealthy. Marketing -> increased demand which increased production, resulting in lower prices. internationally. National currencies get compared to precious gems & metals. The gold standard" was abandoned 1971 economists monitor previous metal industry for clients. Obama"s triple constellation diamond chandelier earring at inauguration, kate middleton"s wedding ring sapphire. (manufacturers designed copies: demand for similar styled products increased dramatically.
