How big our target market is?
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.
According to Statista, the average gold price for 2018 was US$1268.49 per oz.
|Weight||Calculation||1172.6 tonne x 1000 kg/tonne x 1000 g/kg / 31.1035 g/oz|
|Price||US$1268.49 per oz|
|Total value of recycled gold jewelry - 2018||US$47.8 billion|
Total value of recycled gold jewelry - 2018