Indians melt down gold jewelry as prices soar

On the streets of India, the world’s largest consumer of gold, people rush to melt down gold jewelry and gold watches to cash in on high gold prices. Gold refineries have been struggling to keep up with demand as gold prices soared over the past months. Gold prices are very volatile, therefore gold and gold scrap must be turned around very quickly by the gold and precious metal refiners. If gold scrap lands up in the evening, it should be ready early next morning and in the market before it opens.

At a refinery, a workman covered with sweat used huge tongs to pour a container of red-hot liquid gold into a mould. On the top floor, large reaction tanks full of nitric and hydrochloric acid dissolve gold scraps through the night for production of gold bars early next day. (149)

Gold prices are up nearly fourfold since early 2001. This year alone, bullion has jumped almost 25 percent to a record peak of $1,030.80 an ounce. If you are looking for fast cash for your unwanted gold and jewelry, request the free refiners kit. We buy most unwanted precious metals such as unwanted, broken, or scrap gold, silver, and platnum.