Showing posts with label Taking. Show all posts
Showing posts with label Taking. Show all posts

Saturday, October 23, 2010

Taking Care of Silver Jewelry the Easy Way


With gold and platinum prices at all-time highs, lots of folks are buying sterling silver jewelry instead. Did you know that silver is the whitest metal, even whiter than platinum or rhodium? That's why a flat, polished silver surface makes a perfect mirror. Only problem is, it tends to tarnish, meaning that the surface silver molecules combine with oxygen, and when they do, they form silver oxide, which is black! Quite a contrast! That's why, to make a mirror, the silver is covered with glass, or actually the glass is coated with silver: the glass blocks the oxygen and prevents tarnish.

Since you can't buy glass-coated silver jewelry, you can expect it to tarnish eventually. Some silver jewelry is plated with rhodium to prevent tarnish, so you should NOT polish this type of silver, because it will remove the plating! Though rhodium is a platinum-group metal, it is not quite as white as silver, so there are some advantages to leaving the silver au naturale, and we will talk about that in a minute. By the way, the Viridian Gold Jewelry Store will always tell you if one of our jewelry pieces is rhodium-plated, so that you will know how to care for it. Rhodium plating is also commonly used on white gold jewelry.

Some silver jewelry just doesn't need regular polishing, because tarnish is kept at bay by skin oils and regular washing. That means that an item worn against the skin, such as a cross on a chain, or a ring, tends to stay relatively tarnish-free. Except when it is exposed to some harsh chemicals which accelerate oxidation. For instance, if you wear a silver neck-cross and go swimming in a chlorinated pool, the cross will quickly turn black! But, swim in a lake or spring-fed pool (like our Barton Springs pool here in Austin!), and nothing happens.

Silver is, as the chemists say, "highly reactive". Some substances besides oxygen, especially sulfur and chlorine, will combine with the silver to form compounds which are black in color. So, if your water supply is high in sulfur (well water is sometimes this way), or is loaded with chlorine, you will have a problem with silver tarnish. And, some folks' skin oils contain chemicals which can accelerate tarnishing, because of their particular body chemistry or diet.

So, how to clean the polish? Well, you could use silver polish, and that works great--some polishes leave behind a film which helps prevent tarnishing (but that quickly wears off of a piece of jewelry that gets handled). Or, you could do what I do--just put a little toothpaste on your fingers and rub it on the piece, then rinse with water. Quick, convenient and cheap. Remember, though: Don't polish silver that is rhodium plated!

If the silver item is something that is not in constant contact with your skin, such as earrings or a brooch, then you need to make sure you store the jewelry item in an air-tight container or in a tarnish-inhibiting cloth.

What could possibly be good about silver tarnish? Well, the tarnish adds a beautiful aged effect to silver items, because it tends to darken the recesses of the piece where silver polish does not reach. This effect gives a unique dramatic character to silver jewelry that sets it apart from gold and platinum, making it a great choice for both casual and formal wear!








William Long is the president and founder of The Viridian Gold Jewelry Store your source for high quality gold jewelry--check his jewelry information blog, Viridian Gold Nuggets for helpful tips and entertaining facts! Viridian Gold also carries platinum and sterling silver jewelry, and has a broad selection of Religious and Family jewelry items.


Thursday, October 14, 2010

Crude Oil Falls on Profit Taking, <b>Gold</b> Moves Higher Despite Dollar Rally

Commodities – Energy

Crude Oil Falls on Profit Taking

Crude Oil (WTI) - $81.61 // $0.60 // 0.73%

Commentary: Crude oil fell Monday, shedding $0.45, or 0.54% after getting as high as $83.50 early in the session. As we indicated yesterday, this week’s trade will likely be influenced by the push-and-pull of a constructive economic landscape versus profit taking considerations after a huge run. With crude now testing the top of a 12-month range, traders are opting to take profits rather than buy at these relatively high levels and hope for a breakout. The correlation between crude oil and U.S. equities has been rising in recent weeks and this trend will likely continue. A 20-day correlation coefficient of 0.79 is the strongest relationship between crude and equities in a month.

Many market watchers will be closely analyzing the Federal Open Market Committee’s latest minutes set to be released on Tuesday. Perhaps we will see indication of the Fed’s next moves, including any potential for more quantitative easing. Financial markets typically respond positively to easing and respond negatively to tightening or even lack of action (if easing is priced in).

Technical Outlook: Prices are showing a well-defined Bearish Engulfing candlestick pattern following a test of resistance at Augusts’ swing high ($82.97), hinting that a move lower is ahead. A break below initial support at $81.20 – the 23.6% Fibonacci retracement of the latest upswing – exposes the 38.2% and 50% levels at $79.21 and $77.60, respectively.

Crude_Oil_Falls_on_Profit_Taking_Gold_Moves_Higher_Despite_Dollar_Rally__body_10122010_OIL.png, Crude Oil Falls on Profit Taking, Gold Moves Higher Despite Dollar Rally Commodities – Metals

Gold Moves Higher Despite Dollar Rally

Gold - $1349.35 // $4.70 // 0.35%

Commentary: Illustrating just how powerful the upward momentum in gold is, the metal rallied $7.31, or 0.54%, on Monday, hitting yet another record despite a rise in the U.S. Dollar. While momentum has a lot to do with the latest move in gold, we have also seen that gold has often moved higher regardless of day to day fluctuations in the Dollar or any other asset for that matter. Traders are more focused on the long-term, and gold traders see a very bleak future given all the sovereign debt issues that are plaguing governments around the world. Gold is seen as the “anti-fiat currency.”

Technical Outlook: In a similar fashion to oil, gold prices have formed a Bearish Engulfing candlestick pattern following a test of resistance at the top of a rising channel outlining price action since the beginning of the year, hinting a downward reversal is ahead. A break past initial rising trend line support – now at $1335.13 – exposes a longer term trend line set from July’s swing bottom (now at $1296.72).

Silver - $23.19 // $0.19 // 0.43%

Commentary: Silver moved slightly higher on Monday, adding $0.04, or 0.17%. Every time it looks like silver may be getting way ahead of itself and a correction seems imminent, the metal rallies some more. No one knows when the top will be; the only certainty is that there will be a significant pullback at some point. That doesn’t mean money can’t be made on this run, because this has been and may continue to be an extremely profitable move for traders. Stay long, but maintain an exit strategy for when the inevitable turn happens.

Technical Outlook: Prices have stalled below the $24.00 figure, seemingly negating a Bearish Engulfing candlestick pattern but failing to resume their climb. Negative RSI divergence hints at losses ahead. Initial support lines up at $22.50, with a break below that clearing the way for a move below the $22.00 figure to challenge $21.80.

Crude_Oil_Falls_on_Profit_Taking_Gold_Moves_Higher_Despite_Dollar_Rally__body_10122010_GLD.png, Crude Oil Falls on Profit Taking, Gold Moves Higher Despite Dollar Rally For real time news and analysis, please visit http://www.dailyfx.com/real_time_news

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