As Countries Decide to Cut Trade Ties with Russia, the Price of Gold Is Poised to Rise

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Written By Barry Lenson

The law of supply and demand is always exerting a force on the price of gold and other metals. To boil it down to its simplest truth . . .

When the demand for gold remains strong but the supply is limited, the price goes up

And now that force could push gold prices higher, judging from a number of news stories about world mining and trading trends. One of these reports is “From Russia with Love: A Putin Ally Mines Gold and Plays Favorites in Sudan” by Decian Walsh in The New York Times on June 6, 2022. To summarize what is happening, the number of gold mines in Africa has been increasing dramatically. The mines in question are financed by Russian companies that are doing business in Africa.

Another story that appeared recently in The Telegraph, “How Putin Prepared for Sanctions with Tonnes of African Gold,” by Tom Collins, sheds even more light on the fact that the Russians are amassing quantities of African gold.

The story that is about to unfold is that as more and more nations are refusing to trade with Russia, Putin and his allies could end up sitting on large quantities of gold that they will be unable to sell on world markets. So, thanks to that law of supply and demand, the value of gold that is already available in the United States and allied nations is poised to remain strong. And prices will hold steady or rise.

Smart Precious Metal Investors Are Acquiring Gold and Gold Scrap Now

There is no doubt that this is a good time to buy and hold gold and gold scrap – or to buy it and have a precious metal refinery like ours extract the gold that your scrap contains.

Here are some varieties of gold scrap that can be bought at low or below-market prices now:

  • Small electronic devices like phones and remotes, which can be bought in large quantities

  • Gold-filled eyeglass frames

  • Larger electronic devices including CD and DVD players and stereo components

  • Laptop and desktop computers and peripheral devices like modems and printers

  • Gold powders and odds and ends from jewelry manufacturing facilities

  • Used gold plating equipment like plating tanks, electrodes, and pipes that were attached to plating tanks

Do You Have Gold Scrap You Would Like to Recycle?

You could hold your gold scrap while prices rise, or recycle it now so you can profit sooner, not later, from your gold investments.

How can you do it? Call Specialty Metals Smelters and Refiners at 800-426-2344. We are here to evaluate your scrap, issue you a report on the gold it contains, and pay you promptly for it at current trading prices.

Russia might be heading into difficult times when it cannot profit from the gold it owns. But you needn’t be in hard times too. Why not give us a call today?

Barry Lenson
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