How green is your gold? As with many metals, gold comes at a price beyond the one you pay to vendors. That price is also environmental, but the yellow metal can actually be produced in a greener way, so long as we keep recycling it more often.
Coming around again
According to the World Gold Council, 28 per cent of the world’s gold supply was sourced from recycling, equivalent to almost 1,300 tonnes in 2020. As overall production of gold fell by four per cent but recycled gold supplies grew by one per cent, the latter managed to increase its share of the overall gold supply last year, boosting the prominence of recycled gold overall.
The increase in recycled gold supplies came amidst gold prices being at all-time highs in 2020, meaning more gold changing hands which wasn’t straight out of the mines. Gold benefits from being an easily-recyclable precious metal and generations have perfected ways of melting it down and finding a better use for gold in the moment.
With only so much gold going around and mining having a detrimental impact on our environment, it only makes sense to make do with what we already have. One paper suggested that buying gold from a recycling facility operating to a high standard with reliable material origins would be considered 300 times better for the planet than sourcing gold through primary production alone.
Going for gold
The Tokyo Olympics this summer highlight just how gold can be recycled from right under our noses, with medals made from gold sourced from discarded smartphones. No matter what shape or size your scrap gold might come in, there’s always potential for it to be sold and recycled into something new and exciting for a future buyer down the road.
Gold is like a chameleon of the precious metals world, changing to match the requirements of any given environment. With early uses for coinage and jewellery, gold is also often found in the form of bars or coins. What new form could your scrap gold take when it’s sold and melted down this time?
If you sell with Cash for Your Gold, you could make £15.20 from just one gram of 9-carat gold, reflecting how gold is highly treasured at present, despite prices having peaked last summer. We’re specialists in facilitating gold sales, and as we operate digitally, our prices allow you to make the most of what gold you may possess.
Selling is easy: just fill in this simple form, and to save queuing at the Post Office to send it, why not request a collection from your doorstep? Search ‘Parcel Collect’ to access the Royal Mail home collection service. Tracking allows you to send your item to us discreetly and safely. If you wish to enquire further about selling gold today, call us on 01902 623 253.
