Protecting your smartphone

No one wants a cracked screen. Follow these tips to avoid the problem.

If you have not damaged your own smartphone, then it is almost certain that you know someone who has. These phones are valuable to their users. Many people do not back up their smartphone, and if one damages his or her phone, then he or she may not have a list of contacts until the phone is fixed (not ot mention that he or she will not have a phone). Here are a few tips to keep your smartphone safe.

• ·      Get a case and a screen cover. Cases are relatively inexpensive and can help prevent you from damaging your phone. Some cases are better than others, however. Avoid using a soft case. Over time, the material will stretch and it would be possible for your phone to fall out of its case! For that reason, it is wise to purchase a hard case that is made of a sturdy plastic material. Finally, do not forget about your screen. It is quite common for smartphone users to crack their screen.
• ·      Screen protectors are thin, clear, plastic films that can protect your phone’s screen from scratches.
• ·      Another suggestion that may seem obvious is: be careful. Never do something that may damage your phone. Even if you are having a difficult phone conversation, you should never throw your phone at the end. This can result in damages.
• ·      Keep you phone away from the water. If you go swimming this summer, then do not take your phone near a lake or pool. Do not leave it on the beach. Even if you are cautious, someone around you may not be careful and will get your smartphone wet.
• ·      If you play a sport, then don’t keep your phone in your pocket; it is likely to fall out.
• ·      If you listen to music while exercising, then make sure that your phone is in a safe place where it will not fall.
•   Expect the unexpected and back up your phone using your computer.

Determining the market price of gold

As basic economic teachings state, the price of goods depends on their supply and demand. For each good or commodity, there are different factors that affect the supply and demand for that commodity. Gold is traded on markets worldwide, from New York to Chicago, from London to Paris, from Istanbul to Shanghai. Because gold is traded on markets around the world, it is traded 24 hours per day.

Supply and demand help determine the price

How is the price of gold determined? Price fluctuations for gold, as well as other precious metals, depend on how the supply of gold relates to the demand for gold. There are several factors that determine the demand for gold as well as its supply, according to IM Trading.

Gold Demand

The three factors that affect demand are:

·       - Investment demand

·       - Industrial demand

·       - Jewelry demand

Investment

Investment demand relates to those who trade quantities of gold. This typically occurs on markets and is sometimes in the form of Exchange Traded Funds (ETF). There are three types of investors, as reported by ITM Trading, “individual, institutional and official (government).” Each type of these investors acts differently and thus affects the demand for gold differently.

Industry

Gold is a valued industrial material. It is used in manufacturing electronics because it resists corrosion and it also conducts electricity well. Therefore, the demand, and thus the price, of gold can depend on industrial activity.

Jewelry

Gold is valued for is gorgeous aesthetic properties. Jewelers buy gold in bulk to design jewelry, which is then sold at high prices. Additionally, some families use gold as a means of storing value. They may hold on to gold jewelry pieces for a long time, passing wealth down from generation to generation. The demand for gold jewelry is sometimes also affected by those investing in gold pieces to hold on to them for their monetary value.

Gold Supply

Gold supply cannot be separated into categories like gold demand because it is mainly dependent on mines and recycled metal. Gold is a metal that can be hard to obtain because of the places where it is naturally found. This contributes to expensive mining costs. That, in turn, affects the amount of gold supplied. When only a small amount of gold is mined in a year, it may become more expensive because it is scarce and the demand might be more than the actual supply.

Final price

When the factors affecting gold supply and demand settle into place, factors are matched up, gold is traded and the price is determined.