Gold Price Jump
Wow, what a day today the gold spot price jumped over $25 an ounce! It would seem that the big jump in gold was predicated by the fact that the Federal Reserve Board said it would gradually increase interest rates.
So far this year the gold spot price is up approximately 7%!
Usually, interest rate hikes are negative for the price of gold. So, I guess today is the exception to the rule.
Gold Price Jump
How gold is formed
The consensus view from geologists and scientists on owl gold is formed is that fluids deep in the crust are heated by the Earth’s internal heat. … The fluids moved through the rocks over a large area and “dissolved” the gold. When these fluids cooled or reacted with other rocks the dissolved gold precipitated (came out of the fluid) in cracks or fractures forming veins.
Gold may occur as deposits called lodes, or veins, in fractured rock. It may also be dispersed within Earth’s crust. Most lode deposits form when heated fluids circulate through gold-bearing rocks, picking up gold and concentrating it in new locations in the crust. Chemical differences in the fluids and the rocks, as well as physical differences in the rocks, create many different types of lode deposits. Read more
Arizona gold prospecting drone
Arizona gold prospecting in the Yuma area. The first step in gold prospecting is to do your research, then it’s time for the fieldwork and to actually go out to various locations and do sampling to determine first, if there is any gold, and second if there’s enough gold to make it worthwhile to set up all your equipment.
When you’re out in the field, obviously, you’re looking for signs of prior gold prospecting, old mine tailing piles, stacked up rocks by the side of a dry wash and naturally, rust stained quartz veines. Read more
San Diego Gold Mine
This video was originally broadcast November 2014 by local CBS news station (KFMB). The Golden Chariot Mine was one of San Diego County’s largest producing gold mines back in the day with a reported gold production of one million dollars. The news story reports that the mine was recently bought by three investors, so perhaps ore cartloads of gold will once again come rolling out of the Golden Chariot Mine tunnels and shafts.
James Henry: “A few years ago when the mine was still on the market, we did go onsite and look around. Yes, there was a lot of equipment still in the mill building — a shaker table seemed to be one of the biggest items from what I can recall. Most of it seemed to be junk, but I don’t know that much about what equipment would be salvageable or not. The two vertical shafts I saw were totally flooded. One of those shafts is 600 feet deep, I think. Pumping out the mine would be a major undertaking.” Read more
Old gold mine dangers that can kill you!
Never enter or even go near old gold mines . . . Nothing is worth losing your life over! sure, we all know there ccan be loose rocks deteriorated wood roof supports,, nails, sharp objects as well as poison gas. But old gold mines are also popular homes for snakes, bats, spiders and large animals like mountain lions,, bears wild pigs and bobcats.
I would bet that you didn’t even think about rabies or in the Southwest, Hantavirus. Hantaviruses are single-stranded, enveloped, negative sense RNA viruses which can kill humans. They normally infect rodents and do not cause disease in these hosts. Anyone exploring caves and mines that contain bats or other mammals should get the rabies vaccine. Read more
2017 Gold Price
The positive view for the spot gold price in 2017.
Did I mention this guy should be running American economics. Why won’t fed raise rates let’s see because our government can’t exist at its current size without 0% rates it’s way to big and we have minimal growth.
During the legendary gold run-up of the 2000s, gold surged from a low of $250 to $1,000 by 2008. A gain of 300%.
You may not realize this, but most gold investments are backed by nothing. The ETFs and futures, which are traded on the London and Comex exchanges, are paper contracts. And there’s more than 252 claims on gold for every ounce of gold available.
In other words, if everybody decided to call in the gold on their futures contracts, only 1 in 252 trades could be covered. Read more
Secret Finding Gold Nuggets
What’s the best way for the weekend gold prospector to find some gold nuggets? Many gold prospectors agree that first you have to be in an area where gold was found before. Once you’re in these old Goldfields you’ll see a lot of past gold mining activity. Naturally, for safety sake stay away from the old mines they could turn out to be real death traps.
I should say before going out to an area to look for gold, check to be sure that it’s public or BLM land and that you are allowed to gold hunt in that area. It’s best to check with the local BLM office. Also, there are many active gold claims in these areas. You do not want to be claim jumping. So, do your research first, before heading out and be sure to stay off active claims and private land. Read more
Spot Gold Price 2017 Forecast
As were just days away from the New Year, let’s take a quick look back on out 2016 was for gold investing before we venture a forecast for spot gold 2017.
At the start of 2016, actually for the first half of the year, you would think that the spot gold price was heading for a new high record. Yes, the first half of 2016 saw one of the biggest spot gold price rallies in about 40 years!
Actually on July 21 Forbes published an article predicting that the spot gold price would hit $1500 an ounce! Currently the spot gold prices trading around $1,130 an ounce. Another gold bullish forecaster in Bloomberg, on September 20 was looking for the spot gold price the hit $1900 an ounce! Read more
Gold Crushing Quartz – Quartz Gold
On a December gold prospecting trip around Yuma Arizona we meet up with the young prospector who’s crushing quartz rocks in hopes of finding gold.
We were near an old gold mine with the miners were following a really long vein of courts that carried a lot of gold in it. Basically, we were doing some dry washing and also metal detecting when we met up with Daniel a young prospector who lives in the area and was looking for iron stain quartz rocks in hopes of finding gold in them. Read more