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With Jewelry Production Halted, Metal Refiner Finds Use for Its Gold
United Precious Metal Refining is delivering its gold to a metal futures market and medical equipment manufacturers.
To help during the coronavirus pandemic, United Precious Metal Refining is sending its gold to a metal futures market and companies making equipment to help fight the disease. (Photo courtesy of United Precious Metals)
Alden, N.Y.—United Precious Metal Refining is still open during the COVID-19 pandemic, but since much of jewelry production is halted, the company is making good use of its gold during the crisis.
The refiner said it is now delivering gold to the COMEX—a market that trades futures in metals such as gold, silver, copper and aluminum—for future deliveries to help offset the shortage from stalled overseas deliveries.
It is also delivering gold to medical equipment manufacturers working on equipment to help in the fight against the disease.
“Never has the importance of the supply chain mattered more than it does right now,” David Siminski, vice president of sales, marketing and technical, said in a press release.
RELATED CONTENT: Jewelry Designers’ Production Grinds to a Halt in NYC, Los AngelesThe company is also open to serve customers, and is taking a number of precautions to make sure everyone is in good health.
This includes relocating nonessential personnel to work from home, including sales and office staff; having the maintenance team thoroughly clean and sanitize the facility and any products being made; and conducting daily screenings of personnel as they arrive to ensure they’re not experiencing symptoms or elevated temperatures or a fever.
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