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The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

Recycling E Waste May Become Very Profitable in the Future

October 15, 2010 06:18

 

With the increase in the amount of computers and other devices which contain precious metals, a recent study is speculating that E waste recycling could become a $21 Billion industry by 2020.  In 2009, the E waste recycling industry topped $6.9 Billion.  

E Waste consists of gold and other precious metals that can be found in computers, mobile phones, televisions and other electronic devices. Advances in technology reduce the lifecycle of these devices which increases the demand for newer, up to date models.  Old models are simply discarded because it is cheaper to do so.  China and India are slated to have the biggest booms for potential E Waste recycling, because so much of the product is produced and purchased there.  An increase in waste is common for growing economies like those of China and India.

Software producing companies and countries also contribute to the increasing E Waste problem.  The demand for high tech devices puts more strain on software manufacturers to keep up.  More complicated software requires more sophisticated machines to produce them.  So as the software changes and becomes more high tech, the software companies must purchase larger, faster and more high tech computers, servers and other devices to keep up. 

The recently published study is available for purchase from GBI Research.

 

Gold Continues to Be a Stable Investment

October 12, 2010 03:14

In a recent article published by Businessweek, experts are saying that gold is fast becoming the safe haven for investors.  As the financial markets are still very much in the stage of recovery, gold continues to be the safe investment.  Gold futures have risen steadily over the past few weeks, indicating that individuals are investing in gold more so than other financial investments due to their instability.

What does this mean for you?  This means that when you bring or send gold in to be recycled, you can expect to receive a fairly high price for it.  This still depends of course on the purity and amount of actual gold.  As gold prices rise, more people will be looking to cash in their gold items.

Manhattan Gold and Silver publishes gold fixing prices daily based on the London fix.  It is updated twice a day, once at market open and once at close, so you can see the most current gold trading information.  When you send your gold in to be recycled, you will be paid according on the second London fix based on the day your shipment is received by Manhattan Gold and Silver.

For more information about our gold refining process, please contact Manhattan Gold and Silver today.

Gold ATM’s coming To the US

October 7, 2010 03:07

Some may remember the post we wrote back in May about Gold dispensing ATM’s being used in Abu Dhabi.  Starting next month, you won’t have to go as far to try out one of these new gold dispensing ATM’s.  In November, if you happen to visit a prominent Las Vegas casino, which hasn’t been disclosed yet, or are visiting sunny Boca Raton, Florida you can now have your chance to buy gold.  

The ATMs manufactured and distributed by Gold to Go, will dispense gold coins and bars weighing up to eight ounces at prices updated every 10 minutes based on the real-time spot price of gold.  These ATM’s are expected to churn out 20 to 100 gold pieces a day depending on traffic.  While Las Vegas and Boca Raton are some of the first to receive these machines in the US, more than 20 locations across the globe are also scheduled to have these machines installed.  

Expect to see Gold dispensing ATM’s show up in New York City, Los Angeles and the state of Minnesota.  The maker of the Gold ATM’s says that they have picked these locations so far because that’s where most of the inquires have come from.  Toronto and Vancouver could be next on the list.

It will be interesting to see what happens with these Gold ATM’s over time, depending on the status of the economy. The Gold machines started showing up when the economy was worse because some felt safer investing in a tangible item.  Current customers of these gold machines seem to be at opposite ends of the spectrum. On one end you have consumers buying small amounts as gifts or as a novelty. At the other end, there are wealthier consumers buying full size 8oz bars at full price.  

For the full article, please see CNN Money.

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