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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.

Gold Refining Services

January 13, 2010 08:36
Gold refining services are essential to industries that use gold everyday. When gold is used in industry, there is scrap, dust and other parts of the gold that are not used.  With the price of gold rising steadily, it would be a huge waste of money, for these industries to let even the smallest amount of gold go to waste.
Over time when this scrap gold accumulates, industries need gold refining services.  Typically the gold dust or unusable gold is sent to a refining center where it is tested, weighed, melted and then turned into bricks. The company that sent the gold is then sent money for whatever the gold is worth.
 
At Manhattan Gold & Silver, gold refining services are our top priority. We use the best equipment and process to ensure that the pay-out to the client is as much as it can be.  Some of the processes we use include hand testing, melting and assaying.
Depending on how large the lot of gold is that is sent, determines which type of test we will conduct.  Smaller lots sent for gold refining services will be hand tested, while larger amounts will be melted and assayed to determine the purity of the precious metal.  After the gold is tested, it is melted and then turned into bricks.  Our Flickr account page has a few pictures of some of the steps involved in our gold refining services.  
For nearly 25 years, Manhattan Gold & Silver has been proud to be the trusted source of precious metal recycling services for jewelers, pawnbrokers, dentists and industrial users.

The Reserve Bank of India Bought 220 Tons of Gold

January 11, 2010 07:26

 

 

 

 

Recently it was announced that the Reserve Bank of India has just bought 220 tons of gold from the International Monetary Fund (IMF) for $6.7 billion. This may be a sign that other central banks may also move away from dollar-denominated assets like Treasury bonds in favor of the precious metal.

India’s huge purchase means that gold will now account for about 6 percent of India’s $285.5 billion of foreign exchange reserves — up from the previous level of about 4 percent.

News of the purchase of nearly half of the 403.3 metric tons of gold earmarked for sale by the IMF boosted gold prices, reminding investors that central bank reserve diversification will continue to fuel demand for the metal.

If you have any questions or are in need of gold refining services, or any other precious metals refining services, please contact Manhattan Gold & Silver today.

Cash For Clunkers Likely to Raise the Cost of Platinum Group Metals

September 18, 2009 01:35
As discussed in a previous post on platinum prices, the primary industrial use of Platinum Group Metals (PGM’s include platinum, palladium, ruthenium, rhodium, osmium, and iridium.) is in the auto industry.   The US governments foray into the auto industry and subsequent car-buying incentive, known as “Cash For Clunkers”, has effectively unleashed a lot of pent up demand.  
This surge in auto sales and subsequent ramp up in production at Ford, coupled with the Fed’s recent announcement that the recession may be over, should return auto sales and production slowly to more normal levels.  This production increase will consume more of the PGM’s in the catalytic convertors used to scrub hostile auto exhaust into more benign emissions.
Unfortunately, the government’s decision to destroy the drive-trains of these vehicles has the adverse effect of increasing mining or other means to meet the increased demands.  While we can expect that the platinum will eventually get recycled, it’s a long journey from auto salvage yards to when the recycled precious metals make it back into new products.  We encourage you to take advantage of this strong opportunity to recycle PGM’s.  Please contact Manhattan Gold & Silverwith any PGM industrial lots.  
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