Gold recycling (usually also known as gold recycling) refers to the recycling of gold products or items containing gold, with the basic purpose of either monetization or reuse. Most gold recycling businesses also sell old gold, platinum recycling, palladium recycling, and other related businesses.
Gold recycling is different from general item recycling, as it forms a unique recycling system in terms of weight measurement, color determination, or price determination. Because gold is reused after recycling, also known as recycling gold regardless of brand, the main price factor for recycling is determined by gold content and international basic transaction prices
gold Recycling sources
Common sources of gold recycling include: gold jewelry, gold derivatives (such as lottery gold, rose gold, K-gold, etc.), investment gold bars, coins, gold minerals, placer gold, industrial gold powder gold, etc
gold Price setting rules
The gold recycling price is a quotation given by merchants based on the international gold market price, and then discounted by the merchant’s profit point.
There is a certain gap between the gold recycling quotation and the gold selling price, due to the following two reasons:
- Gold products may incur processing costs during the processing process.
- Gold products will generate profit points for merchants during the sales process.
- Metrological conversion
- 1 troy ounce=31.1034768 grams
- 1 kilogram=1000 grams
- Hong Kong gold 1 liang=37.5 grams
- Hong Kong gold 1 coin=3.75 grams
- Mainland gold 1 coin=3.125 grams (sixteen liang system)
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