All eyes in the precious metals industry are on the mega-merger between mining giant Barrick Gold Corp. and rival Randgold Resources Ltd. The all-share deal, announced yesterday, will make Barrick into the world’s largest gold company by production when the deal closes in the first quarter of next year. Markets reacted positively to the news, with… Read More »
After last year’s record number of store closures, our jeweler friends will be happy to know that the American retail is finally rebounding. Tax cuts have left more discretionary income in consumers’ wallets. Luxury retailers, such as jewelers, stand to benefit the most . Relationships are key Because Amazon has so changed consumers’ expectations, the brick and… Read More »
Our friends in the pawn industry know firsthand that consumer buying trends are notoriously hard to predict. Today’s Wall Street Journal has a story about one of those times when consumer behavior has seemed downright counter-intuitive. Whatever side of the political aisle you happen to be on, you probably expect that the election of Republicans… Read More »
I had a conversation with a relative of mine the other day who was asking about precious metals prices, he mentioned he has been “stockpiling” gold bars and coins for years. I got to thinking, if you are a Baby Boomer (like my Uncle) who bought gold back when he was about 25 years old in 1975… Read More »
Wall Street Journal headlines today “Digital Currencies Tumble”. The piece details a drop for digital currencies by 70% since January 2018. Of the top 100 cryptocurrencies by market value, 98 were down over 24 hours according to research site CoinMarketCap. Sharp declines and rises are nothing new to digital currencies but they were hyped up… Read More »
At least once a week at the refinery we come across someone who is unfamiliar with weighing gold or silver. We explain weights to them, and they understand, but there are unscrupulous people out there who do not explain and take full advantage of the confusion.
Gold is our favorite metal but platinum comes in as a close second. What is going on with platinum these days? Usually trading at roughly the same as gold, platinum has taken a nose dive. But still some major players are betting on platinum…
Around this time of year many of our customers shutdown for one or two weeks in July. We ship out quite a few containers to use for cleaning up jewelry benches and manufacturing facilities; the items sent in to be refined are varied. Filters Polishing buffs Shop floor sweeps Protective equipment Vacuum bags Sink sludge… Read More »
Last week I hear Duchess Meghan Markle is wearing gold, and I find myself clinging to the hope that gold is making a resurgence. I am hanging onto this, and it’s sad. Frankly our favorite precious metal has been going through some turmoil these days making me a nervous wreck. Fluctuating gold price and the… Read More »
Here are some historic images from all of the West Point Ring Melts we have had at the refinery.