The world’s biggest jewelry company, recently announced the use of 100% recycled gold and silver to reduce its carbon footprint. The move has triggered a new trend in the industry, marking new paradigms for jewelry makers to adapt to and evolve with.
This entails using more recycled gold as the main material, which could greatly reduce the world’s carbon footprint.
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Recycled Gold: A New Pragmatic Trend
Recycling and factors related to sustainability are now entering the coveted gold sector. The arena is now facing a new narrative shift, with recycled Gold ideation in the mix.
This action speaks volumes about brands’ seriousness in adapting to growing climate change concerns. Speaking about it in detail, Pandora’s CEO, Alexander Lacik, shared:
“Precious metals can be recycled forever without any loss of quality. Silver, originally mined centuries ago, is just as good as new. Improved recycling can significantly reduce the climate footprint of the jewelry industry,” Lacik added.
Statistically, Lacik was quick to share how Pandora intends to “craft all new jewelry with 100% recycled silver and gold from the second half of 2024.”
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Surging XAU/USD Prices May Favor the Recycled Trend
With explosive XAU/USD prices wreaking havoc in the industry, ideas about recycled gold may sound more lucrative to consumers.
During this time, investors and consumers may anticipate recycling their existing metals rather than buying new. This could boost their current asset’s valuation without burdening the average investor’s wallet.
However, the road to recycling is not as sparkling, and the sector is poised to encounter a few challenges in its wake.
For instance, queries related to impure usage may increase. Furthermore establishing robust exchange policies is also a major concern that the sector needs to tackle firsthand.
The idea of recycling has been welcomed by brands across the board.
High-end jewelry firms like Tiffany & Co., Bulgari, Prada, and Chopard have already started to use recycled materials in their jewelry-making processes.