What Are All These Gold Buyers Doing With the Gold?

 

If you have been paying attention over the past couple of years, there are thousands of companies that are actively trying to buy old, unwanted scrap gold from consumers around the world. You’ve probably listened to your fair share of commercials featuring testimonials that usually go something like “I got $500 for my scrap gold.” Perhaps you’ve begun to wonder what these gold buying companies are doing with the gold buyers brisbane. In fact, some folks think that it’s a government conspiracy and that the gold buyer is actually a secret agent working for Uncle Sam, sent to buy up all the planet’s gold for some unperceivable reason that has yet to be revealed.

Well the truth isn’t as dramatic, and wouldn’t be the basis for the next James Bond flick. Uncle Sam isn’t after your bullion. But savvy investors are looking to buy gold like never before. The price of gold is historically high right now, and buying gold is a smart move. The gold that you sell to the precious metals buyers is refined and then resold to investors on the stock market, just like any other stocks.

Gold buyers will take your old scrap jewelry, refine it, and resell it. They will buy basically anything that is gold (and most buyers also buy silver and platinum items, too). Old scrap gold can include jewelry like necklaces, chains, rings, tie tacks, cuff links, bracelets, and more, as well as flatware, dental gold, coins, nuggets and other items. Some gold buyers also buy plated items.

So, what is refining, anyway? As you may know, gold is a soft metal, and to be used for jewelry making gold buyers brisbane
, it must be combined with other harder metals in order to be hard enough to form into a ring, or other item. Refining gets it back to its pure state and involves melting the jewelry down so that other metals can be separated from the gold.

Refining is a complex process that involves:

•Melting down the jewelry. This is called homogenizing the gold. After the items that you sell to the gold buyer are melted down and dumped into an ice bath. This reduces the particle size of the melted metal.

•Separating the gold. Once the metal has been melted down, you are left with bars that are made up of gold, silver, copper, and other metals. The bars are dissolved in a mix of nitric acid and hydrochloric acid. After this process is finished, the metal will have dissolved into a brownish, highly acidic and rust colored liquid substance. Urea is then added to neutralize the substance. Next, the liquid is gassed by adding sulfur dioxide via a bubbling method. This makes all gold fall to the bottom of the solution tank. The solution that is left contains only the other metals. These metals are pumped into a separate tank. The gold that is left in the bottom of the tank is 99% pure and looks a lot like gold mud. This muddy substance is then put through a process that uses de-ionized water to wash away the remaining scrap metals like copper and silver gold buyers gold coast
. What’s left is pure gold in a gold powdery cake. Once again, the gold is melted down at around 2200 degrees Fahrenheit and poured into gold bars.

 

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