Metal smelting is a
process of extracting metal from its ore which is mixed with heat
generating or purifying substances such as coke or limestone. Smelted
or pure gold finds its application in various fields such as medical,
dental, electronics and industrial application. While purchasing gold
ore, investors are buying the insignificant material that sticks to
pure gold. If buying gold as an asset, it is a better to purchase
smelted gold. Along with melting gold into bar, smelter removes the
impurities from gold using heat, pressure and certain chemicals.
Hence, private and institutional investors who invest in gold coins,
scrap gold and gold dust prefer gold
smelting.
The demand for pure
or smelted gold is extensively scattered around the world. The U.S.,
India, Turkey, and greater China which includes China, Hong Kong and
Taiwan accounted for approximately over half of the global
consumption in the last three years. Rapid socio-economic and
demographic changes in the developing countries are also expected to
turn out new patters of demand for smelted gold over the forecast
period. Jewellery has constantly been the largest segment of overall
gold consumption. In addition, private and institutional investors
represent largest source of smelted gold.
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Some of the Key
Participants in gold smelting market include Chenzhou Mining
Group Co. Ltd., Aida Chemical Industries Co. Ltd., Ronghua Industry
Group Co. Ltd., Materion, Metalor USA refining corporation, Johnson
Matthey Ltd., Chongjin Gold Corporation Ltd., Ohio precious metals
LLC, Shandong Gold Mining Co.Ltd., OJSC Kolyma Refinery, Gannon and
Scott, Yuyuan Tourist Mart Zijin Mining Group Co. Ltd., Global
Advanced Metals and Hengbang Smelting Corporation among others.
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