If you are in the gold business, or even if you are just an occasional gold buyer or seller, a karat calculator is one of the most important tools you need to have handy. The industry that makes more use of karat calculators is the jewelry industry, but they are also necessary for pawnbrokers, investors, and even dentists.
The jewelry industry is an exciting field to be in and has a shiny future ahead. Watching the latest trends, it is expected to grow quite a lot in the near future. A quick look at last year’s data tells us that the global jewelry market is currently valued at $348.5 billion per year, which in economic terms it is equal to the gross domestic product of South Africa or the 32nd largest economy in the world. $41 billion were spent last year on luxury jewelry like precious metals and gemstones, and jewelry from famous brands accounted for 40% of that market.
Now according to the latest jewelry statistics, United States is the country that consumes the most jewelry. The online jewelry market is expected to arrive at $7.6 billion in the US in the current year, and the whole jewelry market will reach nearly $57.96 billion in revenue, which represents an annual growth of 0.8%.
Not only that, specifically the gold market in the US is one of the biggest in the world. The US holds the largest gold reserves in the world with 8,133.5 tons, and it also has the largest gold-stock trading figures in the world.
With these huge numbers ruling this industry, there’s a lot of calculus to do if you are dealing with gold! Karat calculators are vital in the jewelry industry, but fortunately for jewelers and pawnshops, Core Scientific provides the best online karat calculator. Even if you are a one-time seller, you will do well to check with a karat calculator before settling for a price with your buyer.
It is important to have a trusted and reliable karat calculator, especially when it can make the difference between losing money or getting the highest profits. One with live gold prices, the possibility to calculate the price for different karats, and to change the weight measurements is the best option you can get. Core Scientific’s karat calculator provides all of this and also gives you information about refining charges and the final price after processing.
If you are searching to refine your gold, Core Scientific is the gold refinery that offers the highest returns on the industry. They are an INC 5,000 company, one of the fastest-growing companies in North America, and together with the excellent reviews they have, it gives them the credibility you need to be sure you are working with a serious refiner. On top of that, they offer an online portal to keep an eye on your materials at every step of the process, verify the weights and check pictures, this way they provide transparency throughout the process. Don’t waste any more time and start refining with the leader of gold refineries!