You've probably heard someone call saffron "red gold," and maybe you wondered if that was just marketing hype. It's not. This tiny spice commands prices that make precious metals look like bargains.

Kashmir's saffron farmers face losses despite rising prices due to a 75% production slump caused by climate change.

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Most of us have heard that saffron is expensive. Some might even know it's a spice that comes from a flower. Still, few truly grasp why this crimson thread commands prices that rival precious metals.