July 27 - New record for gold today that the New York market has reached 1,631,20 dollars an ounce.Record high in London too at , $ 1,628.05 . Gold has pulled back from the all time record high since but I won't be surprised that another all record high will be broken either tomorrow or in few days as most analysts expect one of the hottest summers for Gold ever ....
Gold is going one way and one way only and that is Up Up and Up .says Owen Hegarty, Vice-Chairman & Executive Director at G-Resources, he also talks about various ways of investing in gold.Gold equities are going to have a very good run in the next few years he says they are probably going to outperform other equity markets , the supply of silver has calmed down there is certainly a shortage of silver and like gold he believes that silver has one way and one way only to go and that is up up and up , the gold supply from the mines has been in decline , Gold is very difficult to find
Gold prices reached new records in London and New York, and then slow down the pace with fluctuations above the threshold of $ 1,620 an ounce. It is now oscillating around $ 1,621 after reaching a record high of 1624.07 in London and the peak of 1624.30 in New York, in a market that is concerned about the difficult negotiations on the U.S. debt and the debt crisis of the Eurozone. There was a very sharp move higher on gold in early trading coming out of the weekend. It went close to vertical for the first 45 minutes of trading and hit a new high of $1,624/oz . Prices have pulled back from the highs, but are holding above the previous resistance/range.
Canada's Pacific Rim mining company owns all the land around El Dorado in El Salvador - one of the most coveted gold mines in Central America.After activists block its mining permit, Canadian gold mining corporation is using a US free trade agreement to sue the government of El Salvador .These people have the right to make their own laws, even if they don't benefit the US. Imagine that.All Pacific Rim cares about is exploiting our resources and earning huge profits. They don't bring opportunities to my country! They bring misery! Low wage jobs under bad conditions. Along with a handful of engineers who will most definitely be foreigners. Sue the gov, I hope they show up with this innocent, simple and humbled woman who will stand up for her people and demand equality and will fight the destruction of our land.
Assassination of anti-mining resistance leader, Marcelo Rivera, sparks campaign of terror against activists
Andrew is a currency historian, an internationally recognized expert on the United States monetary system .Andrew Gause may just be the top man anywhere for the highest quality
analysis into the world of money we all live in. Andrew is a currency
historian, an internationally recognized expert on the United States
monetary system. He's written two books, "The Secret World of Money" and
"Uncle Sam Cooks the Books".
~ Over the Counter Precious Metal Trading Changes. ~ How the Fed plays with Bonds
Gold panning fine gold how to in light sand and with micro gold Panning and prospecting for gold has become one of the most popular recreational hobbies today. It is possible for many people to actually pay for their gold panning and gold prospecting holidays by selling any of the gold nuggets they find. Many people who pan and prospect for gold are discovering why a simple pan is one of the most effective techniques in discovering and recovering small amounts of gold from a stream bed. Prospecting for gold is very much like being a detective in an old Mickey Spillane novel. When you discover those small flakes in your pan for the 1st time more often then not you will be bitten by the gold prospecting bug and you realize that these small glittering pieces of gold are the only clues leading you to the source of that gold and perhaps a huge mother load
More than 80% of the gold in the Mother Lode is still in the ground.
Gold is most commonly found and or mined in one of two kinds of deposits; Placer and Lode. Placer deposits are areas of free gold that have settled in pockets after being disturbed and moved by many years weather facilitated erosion. Lode is gold found in veins buried deep underground in quartz deposits. Placer gold is mined using panning, sluicing, or dredging. Lode is mined using conventional "deep shaft" hard rock.
WASHING OFF LIGHTER SAND AND GRAVEL
1) Hold the pan just under the water and tilt it slightly away from you. Begin to swirl the water from side to side, with a slight forward tossing motion. Take care, but with sufficient force to move the surface and the lighter gravel out over the edge of the pan.
2) Leveling the pan from time to time and shaking it back and forth will cause the light material to come to the surface and the gold to settle to the bottom.
Repeat process 1 and 2 of step B until there is only about two cups of heavier material left in your pan. This material is usually called "black sand," or "concentrate."
A one-ounce gold nugget is more rare to find than a five-carat diamond.
The amount of gold nuggets being found in the world is less than one percent.
Even though gold is rare, it is far easier to find than winning a major lottery.
Because of its rarity, a gold nugget can be worth 2 to 4 times the value of the gold it contains.
The Chinese worried about a possible U.S. default are buying gold and silver hand over fist . The Chinese rush to Gold alarmed by the fear of the U.S. default , Gold is The traditional safe by excellence in times of uncertainty in the currency markets, with the extreme volatility of bank stocks and the fear of sovereign debt defaults (those whose bonds were issued by domestic banks are likely to become toilet paper, what the rating agencies often classify - wrongly - with the name junk) , a true 'gold fever broke among the Chinese investors, with a surge in sales of bullion coins by more than 120% in the first quarter of 2011 on an annual basis. A trend that has pushed up the prices of the yellow metal over the threshold of $ 1,600 an ounce. To drive the demand of the market towards the safe haven par excellence is also the debt crisis of the euro area and the situation far from rosy in the U.S., where the Congress has not yet reached an agreement on raising the debt ceiling with the risk of debt default for the country.
This is why China is focusing on gold. For some time China was a net seller of gold , as well as being a major producer. According to the World Gold Council (WGC), together with India, the country where the demand for gold recorded the strongest growth rates globally. The demand in China is extremely strong, and one of the main factors that drive the market's fears is the rising inflation. Data in hand, in the first three months of 2011 the demand for gold coins and ingots in China amounted to 90.9 tons, an increase of 123% compared to 40.7 tons in the same period last year. In India, sales stood at 85.6 tons. Globally, in 2010 the demand for bullion coins stood under 1,200 tons. According to analysts, the 'gold rush of the Chinese market is a new phenomenon. "Only a few years ago, the Chinese would not have bothered to buy gold bars and coins. But now people will buy them, instead of jewels, as they have a higher value over time . For the Chinese to buy gold is a kind of insurance, they feel they have made a safe investment. Currently, the gold reserves amount to only 1, 6% of the total assets of China, but analysts view it is possible that the Bank of China starts to buy more gold. Especially given the uncertainty related to yields on the US Treasury bonds issued by the Fed, on which China has invested for years because it was believed to be the best way to "park" the money arising from the huge surpluses of their trade balance.
Mad Money host Jim Cramer says it's not too late for investors to get in on the precious metal especially Gold ...Jim Cramer "the average portfolio has 1% to 1.5%. do you come into gold here? i have heard over and over again. here is the problem with gold. people missed the move. it's clearly untrue. given the uncertainty in the euro and the dollar i don't think it's too late"
Robert Ian : Gold is Money Everything Else is Credit , on July 13, 2011 Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.
here is a transcript of the Q&A between Dr Ron Paul and FED chairman Ben Bernanke about Gold being money or not being money :
Paul: “Do you think gold is money?”
Bernanke: “No. It’s a precious metal.”
Paul: “Even if it’s been money for 6,000 years? Somebody reversed that and eliminated that economic law?”
Bernanke: “Well, you know, it’s an asset. Would you say treasury bills are money? I don’t think they’re money either, but they’re a financial asset.”
Paul: “Why do central banks hold it (gold) if it’s not money?”
Silver Better Bet than Gold says Peter Turville-Ince , Head of Commodity & Equities Strategy at Compass Global Markets, who is long-term bullish on silver.Gold prices in Euro and in British pound hit record highs for second consecutive day , Peter Turville-Ince prefers silver over Gold for the longer term
James Turk : Well I think the precious metals are going to do quite well this summer. And I don’t agree that QE2 is going to end in June. It may “end” in June but it is not going to end on August 2nd because on August 2nd the US government is going to increase its spending limit probably by $2 trillion and the Federal Reserve is going to have to step in and start buying some of that government debt and run the printing presses again with all this new money creation. And I think that is what is going to light a fire under both gold and silver this summer. extract with an interview with Chris Martenson published on infowars.com today . James Turk explains why he expects: - The US Government to raise the debt ceiling in August, which will require the Federal Reserve to print more money in order to soak up the new debt, sending gold and silver prices much higher this summer.The banksters will use some of that money to purchase paper shorts on Silver at the comex. How do I know? They have already been doing from QE1 to QE2. They have done a really good job keeping the price down and yet Silver is up 900% since 2001. While the cental banks of China India Russia and others have been focusing on Gold their efforts have resulted in a 600% increase in the price of Gold. Objectively speaking Gold could very well outperform Silver. I’m sticking with the devil’s metal however. Crash JP Morgan. Buy Silver.
Gold and Dollar rallying together indicates the flight to security , The biggest breakout for Gold would be a break through the $1577.70 The May High....is gold the way to protect your portfolio, and what is the best way to get in on the gold action? A look at whether the precious metal is a good way to protect your portfolio and the best way to get in on the action, with Imaru Casanova, MLV & Co. , and Darin Newsom, Telvent DTN.
Even though the dollar appears strong. When you compare the dollar to real money , it's falling like a rock. Peter predicts DOW and gold 1:1 Based on the current inflationary policies of the United States Peter Schiff had predicted a $5,000 dollar an ounce gold price sometime in the near future. Now that Europe has made it clear they will execute the same inflationary policies across the Euro Zone Peter now believes that $10,000 dollar/ounce gold price is not out of the question. As more people, governments, and institutions flee fiat currencies and seek the safety of precious metals, gold could very well see these unprecedented levels in it's price.The demand for gold is there because gold is a safe haven. With the debt of major currencies increasing and economies weakening of course you want a safe haven.
Hans Goetti, Former head of research services group , Citi private Bank and Chief Investment Officer at Finaport says commodities will be under pressure if we do not see a re-acceleration of global growth in second half of the year.
Bob Chapman : gold and silver are going to go up a 100 to a 150 percent within the next 6 months
Bob Chapman : ...commercials mean banks and these are the characters that have been rigging the arket for years , they were very heavily short and what happened is they covered a good part of their shorts that means that either they stay out of the market or they go long , I do not think they are going to go long so they are to go short may be sometime in the future ...this means there is no overhang on the Gold and Silver, in the next while within 6 months probably much sooner gold and silver are going to go up a 100 to a 150 percent , that's for historical perspective and make notice of it says Bob Chapman of the International forecaster , I have been doing this for 52 years , I know everything that happens in the Gold and Silver market I was the largest gold and silver stock broker in the world and so I know what's gonna happen ....and there is going to be enormous amount of money made and so if you are thinking about buying gold and silver coins bullion or shares do it because you will never buy them any cheaper