[Jewelry making - Article 00652] - Re: [Orchid] Metals price forecast for next two weeks

[Daniel Ballard]

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    I feel your frustration. Here is a tip for any jeweler-Stop waiting
    for a market you like or desperation to force you to refine your
    metals. It is critical that you get your scrap turned around as often
    as practical. That means not being hurt by the minimum charges.
    Refine each year or more often. Put away your pure metals after they
    are refined. Use or sell them as you need to, not when the refiner
    happens to finish your gold. 

    If the metal market is low or lower than you want, just have your
    refiner send you your precious metals back as pure gold! This way you
    can sell your 24kt gold the very day you want to. Its already
    refined. No waiting. The purchase of your metal by your refiner is an
    option, not a requirement. It can be costly to sell your gold to the
    refiner only to buy gold a week later! 

    If you have gold around you will likely make something that sells
    out of it. That beats the heck out of the 24kt spot market anytime! 

    My complaint as a refiners rep is that so much metal is coming in at
    these prices we are being pressured by the customers to get the
    refining done ASAP, or else. Except we are at or above full capacity!
    We can not actually rush the Aqua Regia process, just because the
    market is changing. Nobody want a sloppy job. 

    Daniel Ballard
    PMWest

    PS
    look at the October AJM magazine issues for the last few years.
    Every October is the "Refining" issue. Read up on the best strategies
    for metal management.

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