Worldwide – Global volumes of recycled gold fell to their lowest level in seven years in 2014 and are likely to remain ‘muted’ this year, confirms the World Gold Council (WGC).
According to a report entitled ‘The ups and downs of gold recycling: understanding market drivers and industry challenges’, which has been compiled by the WGC and the Boston Consulting group, gold recycling fluctuates fluidly with gold prices and economic conditions. In 2014, gold recycling fell to 1122 tonnes, or 26% of total gold supply.
‘We expect it to remain low throughout 2015,’ the report adds. ‘This is partly a result of gold prices being lower than they were several years ago, leading to less distress selling as a result of greater economic stability, and the depletion of near-market gold recycling materials.’
Between 1995 and 2014, recycled gold accounted for an average of around one-third of total supply of the metal, with the figure falling as low as 17% in 1999 but rising to 42% in 2009 on the back of higher gold prices and a faltering global economy. Recycled gold volumes hit a record 1782 tonnes in the latter of these two years.
For more information, visit: www.gold.org
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