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Is saffron more expensive than gold?

Published by Lars Mäki in category Articles on 03.04.2024
Gold price (XAU-SEK)
25947,40 SEK/oz
  
+ 309,30 SEK
Silver price (XAG-SEK)
314,80 SEK/oz
  
+ 9,35 SEK
Är saffran dyrare än guld

Ever curious about whether saffron, commonly referred to as “the red gold,” is pricier than gold? This article delves into a comparison between these two prized items: saffron and gold. We’re going to look into their per kilo pricing and distinctive qualities to discover if saffron really does surpass gold in terms of cost.

Price per kilo of saffron and gold

Saffron – A labor-intensive harvest

Saffron, known as the world’s priciest spice, owes its hefty price tag to the intensive labor involved in its harvesting and production. 

To yield approximately one kilo of saffron, there’s a need for meticulously hand-picking as many as 150,000 flowers. Saffron is mainly produced in:

  • Iran
  • Southern Europe
  • Morocco
  • Azerbaijan
  • India.

The cost of saffron per kilo can fluctuate, yet it often surpasses the tens of thousands mark in Swedish crowns per kilo.

Gold’s Permanent Value Over Time

Gold, in contrast, is celebrated for its lasting worth and has long been a coveted investment and collectible. The market dictates gold’s per kilo price, which typically hovers around the hundreds of thousands of crowns range.

Gold’s value comes from its physical properties, historical value, and its economic asset – which distinguishes it from saffron’s more “usable” value and purpose.

Saffron and Gold – Different Types of Value

The Red Gold

Referring to saffron as “the red gold” fits well, and it’s not solely due to its hue but also its value. When comparing saffron with gold, it’s evident that historically, saffron has frequently been pricier per kilo than gold.

However, the value of gold and saffron is measured in different ways. While gold is valued for its financial stability and appeal, saffron is valued for its rarity and its unique properties as a spice.

An Exciting Economic Difference Between Gold and Saffron

When we compare saffron with gold, we see something truly exciting in the economy. Gold has always been seen as a symbol of wealth, but saffron breaks this idea as it is so valuable as a spice – and something that can be consumed rather than invested in. They both have unique properties that make them highly sought after, but in completely different ways.

So, does saffron actually cost more than gold?

The answer can vary year by year. In 2024, gold is definitely more expensive. At your nearby grocery store, saffron is available at a price per gram that’s considerably less than gold’s going rate. 

Currently, gold’s value stands at more than 660 kronor per gram, and you can keep track of the ongoing gold prices in Swedish crowns right here.

Feel free to discuss in the comments if you believe saffron in the future will be worth more than gold again.

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Gold price (XAU-SEK)
25947,40 SEK/oz
  
+ 309,30 SEK
Silver price (XAG-SEK)
314,80 SEK/oz
  
+ 9,35 SEK

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