With the recent UN Climate Conference, COP26, which was recently hosted in Glasgow, all industries are being challenged to find ways to improve sustainability from top to bottom. The gold markets know a thing or two about that, given that 28 per cent of the world’s gold wasn’t sourced through mining, but produced through good old-fashioned recycling in 2020.
Something gold, something borrowed
One of the factors which makes gold so easy to recycle as a precious metal is its longevity. Gold hardly ages over a lengthy period of time, owing to its lack of reactivity with oxygen. Gold’s melting point, at which it becomes molten liquid, is only 1,064 degrees Celsius and when it is in molten form, gold is remarkably easy to change into a variety of shapes.
What was once a bullion bar can easily become jewellery, coins or some other shape with the right tools to hand. With the typical gold ring estimated to produce 0.8 tonnes of CO2e for each troy ounce of gold, the carbon footprint for bringing even just a new troy ounce of gold has never been higher for the planet. What a coincidence that gold prices happen to be high compared to historical averages.
For much of human history, gold mining was an arduous task and only so much of it could be found at any one time. Generations of people simply learnt to make do with what little gold was around. In this way, recycling the gold we currently have isn’t some modern fad, but an old tradition which has stood the test of time.
Recycle your gold today
Selling your gold with UK Scrap Gold could be just the way to contribute towards this grand effort to cut carbon emissions in the gold markets. If more of those with unwanted gold sell it, especially during a time such as this, when prices are near record highs, the benefits can be numerous. It rebalances supply in a way which could mean less demand for mining.
Not only does it save toxic chemicals and waste products being released into the environment, which are known side effects of modern gold mining methods. Selling your gold for recycling also allows those specialising in the crafting of gold items to show their skills in melting down and reshaping old gold into something new.
UK Scrap Gold can process scrap gold items ranging from dental gold to old jewellery and coins. We also consider a number of items with varying degrees of purity. Rose and white gold are just two examples of gold alloy items people might wish to sell. Just because it isn’t pure gold doesn’t mean it holds no value for us. To learn more about the value of recycling gold by selling it, get in touch with us today.