Gold has had a significant contribution to the history, economic and social advancement of Australia. Since the 1850s, the demand for gold has kept growing. It has kept defining and sustaining the people of Victoria and Western Australia. The gold rush also led to the fast-tracking of developing infrastructures like the country’s first railway network, highways, ports, and gold industry.
To this day, gold is an important industry. Besides the fact that 14 of the world’s biggest mines are in Australia, the city of Melbourne and its surrounding towns is the hub of the city’s gold industry. There are countless gold jewellery buyers Melbourne and cash for gold dealers lining up the main streets. There are hundreds of thousands of people who live in gold mining regions with thousands more employed indirectly by this sector.
Even though the gold mining industry has been having trouble, it is still the highest economic contributor. Australia is the biggest gold producer second only to China. In 2016, Western Australia is responsible for 70% of the total gold produced in the country. The amount of gold that Western Australia produces would make it the 5th largest producer in the world had it been a country.
In addition to that, the gold sector support communities across Melbourne. It funds medical research, education, and community uplifting programs and also helps provide important emergency services. Despite its impressive profile, a lot of people are unaware of the history, scale, and value of this industry.
Gold has been instrumental in giving Australia its national identity. Not only is it a vital commodity and an investment asset but with the growing concerns over environmental degradation and global warming the industry is leaning more towards recycling. The environment isn’t the only problem, but the fact that gold is a rare precious metal means that the gold mines in Australia were always going to reach the day that gold ran out. There was a lot of talk about Australia reaching “Peak gold”. The industry has had to adapt and change to new ways of producing gold and sustaining itself. This is one of the main reasons that gold buyers have increasingly set up shop. They buy gold jewellery and other gold products from people looking to sell gold.
When you sell gold , you need to differentiate used gold from scrap gold. This is important if you have old gold jewellery mixed in with broken gold jewellery. gold jewellery buyers Melbourne buy gold to recycle it in a few different ways. Sometimes they recondition the gold jewellery to make it look new and then they resell the gold. The broken pieces are melted and refined to get them to the purest form of gold possible. Pure gold is then cast into bars and absorbed by the various industries that buy gold like the jewellery sector, the electronics sector, and other industries. Refineries like the Perth Mint or Johnson Matthey also mint bullion bars and coins that they reintroduce into the market for investment purposes.
A lot of people don’t realise that a lot of small-scale jewellers melt gold and make gold. Talented jewellers and goldsmiths can make another piece of gold jewellery from another. A lot of the gold you own now was once pre-owned, melted, refined one piece of jewellery into another. Many pieces of gold jewellery you buy brand new were once pre-owned. Gold recycling has been part of society for years and jewellery buyers Melbourne have become essential to the everyday lives of everyday people. No matter how much gold is recycled, it means extra cash for you when you sell gold jewellery in Melbourne.