As the price of gold broke the pivotal $1,400 psychological barrier on Monday, the market is primed to move into bull-market territory for the first time in months. The precious metal is up about 19% from June, and it need only reach 20% to enter the bull market.
Characterized by confidence in the market and increased investing, a bull market would reflect positively on the gold recycling industry as well. There is a positive correlation between the market price of gold and the prevalence of its recycling, meaning that recycling increases as its price does. And Andrew Su, CEO of Compass Global Markets, predicts that gold’s price will “continue to rise quite strongly over the next couple of months.”
Cash in on High Prices
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