Some gold analysts are predicting that the price of gold could go as high as $1300 per ounce. Economic circumstances in Greece/Europe and China, along with a surge of gold sales in India are believed to be a reason for the high worth of gold. When gold prices are up this generally means that more people will be selling their old gold for new jewelry pieces, or just trying to unload it for some quick cash.
A consumer who wishes to sell old jewelry to a scrap trader is a contributor to the recycled gold supply. Similarly, a consumer opting to exchange an old gold necklace for a new one indirectly contributes to the recycled supply, as the jeweler with whom the swap takes place, usually sends the old necklace for processing to gold refineries.
The strong preference for gold over currencies, government bonds and certain commodities saw investor demand for the precious metal overtaking its use by the jewelry sector in 2009, for the first time in nearly 30 years.
For more update information about gold prices, or to sell your scrap gold, please visit www.mgsrefining.com.