KMG Gold Recycling USA KMG Gold Recycling Canada
10/27/2023 9:30 AM     Current Market Spot Prices:     Gold:  $1,984.26/ozt   Silver:  $22.89/ozt   Platinum:  $926.20/ozt   Palladium:  $1,168.05/ozt  

Wednesday, August 28, 2013

KMG Gold Recycling's New Lineup of Refinery Products

As part of a planned expansion of products and services that are intended to better serve our existing and future customer base, KMG Gold will begin distributing a leading line of refinery products from RDO Induction LLC, a leading supplier of induction furnace melting equipment for ferrous, non-ferrous and precious metal alloys. In addition to furnaces and melters, the company also supplies accessories such as crucibles, ingot molds, safety and handling equipment and much more. These products are now available for purchase on our customer-friendly and easy-to-use ecommerce site.

This latest expansion of the KMG Gold product line and service is a reflection of our desire to better serve you - our customer! - by providing a one-stop shop for tools, equipment and knowledgeable industry advice. All the tools that are produced by RDO and sold by KMG are perfect for anyone looking to start their own gold recycling program from their very own home at an affordable price point.

Have you used RDO products in the past? What did you think? Share your experience with us in the comments!
Posted by Mike Gupton at 10:30 AM 0 Comments

Wednesday, August 21, 2013

Have You Met Mike?

You may not have had the opportunity to meet KMG Gold's president and CEO Michael Gupton, but on Friday August 2, 2013, BNI Canada did. Professionally affiliated with BNI Canada for many years, Mike stopped by Winnipeg's own Winter Club to give a speech about his grassroots business and shared his recipe for such enormous success.KMG Gold President speaks at BNI Canada

BNI Canada is a professional marketing organization that specializes in word of mouth referrals, something that KMG Gold strongly identifies with. Mike attributes a large part of his business' success to the positive word of mouth referrals that happy customers have provided him with. These happy referrals played a large hand in KMG Gold being awarded three Better Business Bureau Torch Awards in two years in addition to being nominated for an additional two for this current year.

Always happy to address a crowd, Gupton delights in sharing insider tips about the gold buying industry and is always happy to lend his expertise regarding precious metal recycling.

So if you haven't met Mike yet, you should! Come drop by our Winnipeg location and we'd love to meet you.

Posted by Mike Gupton at 2:30 PM 0 Comments

Wednesday, August 14, 2013

It's Finally Here! Shop Online with KMG Gold!

KMG Gold shop online ecommerce siteThe wait is over! KMG Gold Recycling is proud to announce the official launch of our new ecommerce site that gives customers a high-quality online shopping experience. Our first class ecommerce site offers our customers a shopping experience that is truly one-of-a-kind.

Our new site is ideal for those looking to set up their own gold buying businesses, offering everything to complete the process from start to finish; including gold testing products, crucibles, ingot molds and more. Truly offering something for every customer, our site also features hundreds of collectible coins for purchase. We're excited to sell numismatics, Royal Canadian Mint products as well as other coins and paper money from around the world. New items are added daily and feature a wide range of products that are perfect for beginners starting their coin collections and for seasoned coin veterans looking for that specific, rare coin.

Easy to navigate and laid out in a user-friendly manner, KMG Gold is certain that this site will be a game-changer in terms of how people shop in the gold buying industry. We look forward to attracting new customers from across North America and are certain that our high-quality products and positive shipping experience will further increase our already expanding customer base.
Posted by Mike Gupton at 12:30 PM 0 Comments

Wednesday, August 07, 2013

Coming Soon! KMG Gold Recycling's E-Commerce Site

KMG Gold is excited to announce the upcoming launch of our new ecommerce site which will offer products and services to better serve our existing, and future, customer base. We've teamed up with RDO Induction LLC (a leading supplier of induction furnace melting equipment for ferrous, non-ferrous and precious metal alloys) so that we can distribute their leading line of refinery products to our valued customers across North America.

KMG Gold is now officially a Canadian distributor for RDO Induction LLC and we'll be offering several different types of accessories like crucibles, ingot molds, safety and handling equipment and much more, that are crucial to the precious metals industry. We're so excited to offer our loyal customers these new products and services, and we hope they'll be as excited as we are. With the launch of our ecommerce site, we hope to better serve our customers by giving them a one-stop shop for tools, equipment and knowledgeable industry advice. We also know that by increasing our services offered, it helps solidify our position as Canada's leading precious metal recycler. KMG digger logo

For more updates and information about the launch of our ecommerce site, be sure to like us on Facebook and follow us on Twitter. And of course, keep reading our blog to stay tuned for exciting updates and other industry news!

Posted by Mike Gupton at 1:13 PM 0 Comments

Wednesday, August 07, 2013

Thinning Gold Volume and Slowing Emerging World Growth amidst Uncertainty of the Fed's Tapering The U.S. Comex gold futures fell for six consecutive days and ended at $1,282.60 on Tuesday. During Asia Wednesday morning, the gold futures fell a further 0.40 percent. The prices have already dropped over two percent this week while they went up 7.25 percent in July, the best month after January 2012.

After rising 0.31 percent last week, the Dollar Index dropped 0.37 percent in the past two days. Both the S&P 500 Index and the Euro Stoxx 50 Index declined 0.72 percent this week.

Developing World Growth Slows while Developed World Data Improve
The thinning liquidity during the summer months and the earnings disappointment from HSBC, the largest European bank, have contributed to weakness in the stock and gold markets this week. HSBC pointed to slowing growth in the developing world especially in Asia and Latin America while the Fed is preparing to taper its QE bond purchases.

The recent U.S. economic data have been mixed. The non-farm payrolls in July added only 162,000 compared to 188,000 in June. The PCE inflation index rose 1.3 percent in June, well below the Fed's two percent threshold. The July ISM services index jumped unexpectedly to 56 compared to 52.2 in June.

Improving economic data has led the Chicago Fed President Evans, one of the biggest supporters of monetary stimulus, to suggest that tapering in September cannot be ruled out. Outside of the U.S., the June German order expanded 3.8 percent, the highest monthly change in eight months. The U.K. industrial production surged 1.90 percent in June compared to the expected 0.7 percent.

Investors Turn Negative while Physical Demand Eases
The gold-backed ETP holdings stabilized at the end of July, but the decline has resumed since month-end. The holdings have dropped about 675 tons since the peak of 2,632 tons reached on 20 December last year.

According to the CFTC, the net combined position in gold by managed money dropped for the first time in a month during the week ending 30 July as the number of shorts contracts rose and the number of the long contracts declined. In India, gold imports have ground to a halt recently due to the uncertainty over the government's curb on gold imports.

According to Barclays, the jump in local bar premiums to $45/oz was driven more by the gold shortage rather than a surge in demand. The gold volume traded in Shanghai continues to ease while the bar premiums in Hong Kong, Singapore, and Tokyo have all fallen. The net gold imports from Hong Kong into China have dropped from 106 metric tons in May to 101 metric tons in June as the price outlook and the Fed policy remain uncertain.
Posted by Mike Gupton at 1:12 PM 0 Comments

Friday, August 02, 2013

Investors Sell Gold as the U.S. Economy Strengths More than Expected The U.S. Comex gold futures have dropped close to one percent since the FOMC meeting on 31 July and ended at $1,310.80 on Thursday. During Friday in Asia, the gold futures have faced further selling pressure before the U.S. payrolls data. The Dollar Index declined 0.46 percent on Wednesday but surged 1.09 percent to end at 82.336 on Thursday.

The crude oil futures jumped 2.72 percent on Thursday after surging 1.89 percent on Wednesday. The S&P 500 index climbed 1.24 percent while the Euro Stoxx 50 index surged 1.79 percent in the past two days. The S&P 500 index scored a new record this week.

Economic Data and Central Banks Policies
The gold futures have dropped in the past three days as the stronger U.S. economic data has strengthened the case for QE tapering in September. The Q2 U.S. annualized GDP growth was 1.7 percent compared to the expected 1.1 percent. The July ISM manufacturing index was also higher than expected at 55.4 while the weekly initial jobless claims were 19,000 lower than expected at 326,000.

In China, the official July PMI unexpectedly expanded to 50.3 from 50.1 in June. However, the HSBC Markit PMI data, covering smaller private companies, saw a fall to 47.7. In the Euro-area, the July Markit manufacturing PMI was higher than expected at 50.3. The ECB President intends to keep interest rates low for an extended period of time and sees the Euro-area economies stabilizing. The BOE has also kept the interest rates unchanged while the U.K. July PMI jumped to 54.6 compared to 52.5 in June.

Factors Beyond the U.S.
On the same day of the FOMC meeting, the World Gold Council (WGC) released a report urging gold investors not to overestimate the impact of the rising interest rates and the tightening of the monetary policy in the U.S. on the gold prices. Nominal interest rates between 2.5 to 6.5 percent are normally associated with an average annualized gold return of six to seven percent.

Emerging markets are now making up about 70 percent of the annual gold demand while the investment demand in the U.S. including ETF demand is only ten percent. In fact, the LBMA has reported that the net amount of gold transferred between gold clearers reached a 12-year high in June. Other drivers of gold prices will be the demand from the central banks and the likely decline in supply.

What to Watch
The market will clearly focus on the July U.S. non-farm payrolls and the unemployment rate on 2 August. We will also monitor the Bank of Japan's target rate announcement, the ECB monthly bulletin, and the Chinese July trade data on 8 August as well as the July China inflation, industrial production, and fixed investments data on 9 August.
Posted by Mike Gupton at 8:34 AM 0 Comments