Looking for the best gold metal refinery?
Gold refinery prices
How much does a gold refinery charge?
To make sure they are charging you correctly, the best thing to do is to look for gold refinery prices, but the results can be a little confusing. Gold refineries are not always clear about their prices, so we hope that we can bring some clarity with this article.
Gold refinery prices now
If you are looking for gold refinery prices, we first have to tell you that the estimation you will get from your scrap will vary significantly. Not only will it change depending on the refinery, but it will also change from one day to the next given the high fluctuation of the gold market price.
You can get an estimate with our scrap gold calculator with live gold prices, so you know the current value of your scrap, and it also gives you the final value after refining charges. There is no way to make it clearer.
Keep in mind that the valuation can differ from the final settlement because of the presence of other precious metals on your scrap that could raise its worth. The only way to know the real value of your scrap is to test it in a specialized laboratory.
History of gold refinery prices – History of gold price
The price of gold hit a historical high in 2020 during the pandemic for some reasons: the gold demand typically spikes in times of crisis, inflation rarely affects gold and it is a symbol of stability, and when the dollar is depreciated as it was, gold becomes more attractive to investors.
Since that, the price of gold has gone down and “normalized” a bit, but it’s certainly much higher than before this uncertainty period. The price today (04/28/2021) is around US $1,765, but it is expected to keep rising.
Analyzing historical gold prices can give you a better understanding of the market fluctuations and help you decide about selling your scrap. You should evaluate the current price of gold before sending your scrap to any refinery; most of them will fix the price they’ll pay you on the day the materials arrive.
Gold refinery prices in 2021
According to an analysis from Forbes.com, “All signs point to gold cooling down and consolidating in the short run before rallying again toward the end of the year and into 2022. It is predicted a price target of $2,500 by year-end.” As we said before, the cooling down period has arrived and we can only expect for the gold price to go up from here.
You need to pay special attention to the rise of gold prices if you send scrap to refine regularly. When it goes up, your settlements, no matter which refinery you work with, should follow the same patterns and fluctuate like the gold market. If gold is projected to grow in 2022, then the gold refinery prices should go up.
How much does a gold refinery charge to refine your material?
For most companies, you will need to reach out to them to give them the specifics of your material, and they will give you their charges. This is actually the most professional way to do it because you will get a custom quote for your materials. Depending on the volume and type of material, the charges will change.