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The value of metals

Metals are commodities whose prices are determined by international commodity markets.

Commodities are often traded in US dollars.

The spot price is the price at which buyers and sellers are currently trading the commodity.

The value of recycled gold jewelry

In their Gold Demand Trends - Full Year and Q4 2018 report, the World Gold Council demonstrates that jewelry recycling contributed 1172.6 tonnes to gold supply in 2018.

According to Statista, the average gold price for 2018 was US$1268.49 per oz t.

Weight Calculation 1172.6 tonne x 1000 kg/tonne x 1000 g/kg / 31.1035 g/oz t
Total 37.7 Moz t
Price US$1268.49 per oz t
Total value of recycled gold jewelry - 2018 US$47.8 billion

US$47.8 billion

Total value of recycled gold jewelry - 2018

Value chain

value chain

Gold buying businesses: Earn a premium selling price on the used jewelry market over selling to a refiner.
Consumers: Purchase quality used jewelry at a fraction of the price of new jewelry.