California Gold Prospecting Hazards
Unexpected hazards when gold nugget prospecting in Twentynine Palms, California.
This was on a gold prospecting clubs claim in the 29 Palms area of California. California gold nugget prospecting can be a lot of fun but one should always be prepared for unexpected hazards when out in very remote areas.
The number one suggestion when gold prospecting would be to always go with a couple of other prospectors. The second suggestion would be to have plenty of water and basic emergency first aid kit. Read more
Swiss Gold Initiative – Peter Schiff
Peter responds to the results of the “Save Our Swiss Gold” initiative this past weekend. He explains why he thinks it is bullish for gold and might have even marked the metal’s bottom.
It’s not too surprising that the Swiss rejected the plan, with all political parties indulging in massive propaganda and scare tactics. The Swiss were repeatedly told that a strong franc would kill their exports, and thus, their entire economy. Politicians love to paint the export sector as being the only worthwhile sector of an economy, since that justifies printing money with abandon. What the vote does show is that around 20% of voters have an independent mind while 80% are born to be manipulated all their life and to obey all orders without questions. Read more
Columbia’s Gold Rush
Very good documentary on how illegal gold mining in Columbia is being used by rebels to fund their war against the government.
Illegal gold mining is the driving factor behind a raft of problems in Columbia… it pits citizens against one another and against the miners, results in an economic shortfall for the government and deprives citizens of a possible source of income. Most importantly, it could have a negative impact on peace and social cohesion. Read more
Gold Price Jumps
As I’m writing this the New York spot gold price has jumped up by $12.40 per ounce to $1203.30 per ounce! in my November 18th. post, I made the case for a possible spot gold price bottom. today, on a number of commodity trading sites, traders seem to be a knowledge and that the gold and precious metals market may be oversold. Though far from a consensus,it would seem that the European quantitative easing measures have resulted in a stronger dollar, as well as modest upward movement in the precious metals and gold market. Read more
Gold Spot Price
The spot gold price peaked in the summer of 2011 at around $1,900 an ounce, than the gold spot price fell almost 40% to around $1,200 at the start of 2014. now, a number of precious metal commodity players think there’s a good possibility that gold may have put in the bottom, just under $1200 per troy ounce!
As I’m writing this post,as you can see from the chart above, gold looks like it’s going to jump over $13 per ounce. so, with the spot gold price at multi-year lows, the good basing action on the charts could be an indication that a real bottom is forming or has already been set. Read more
In a just released report it was shown that Russian government has been stockpiling gold. This report shows Russian central bank accounted for more than half of the gold purchased by central banks in the three months ending with September!
Year to date, Russia has increased its total gold holdings by 25%, and now, the Russian gold reserve is the fifth largest in the world! Also, for the past decade the Russian central bank has tripled it’s amount of the yellow precious metal!
Buying gold during economic hard times is not, to be sure, a new concept. In the current recession, it’s a strategy that has been embraced by many mainstream investors.
So-called fiat currencies, like the dollar, are backed only by the promises of the government that issues them. “The alternative to fiat currencies is gold,” notes Edward Yardeni, an economist and chief of Yardeni Research. Read more
California Gold Prospecting – It’s Very Hard Work
The hunt for precious stones and metals from the ground has long occupied people looking to be successful. California gold prospecting has caused thousands of people to give up their lives and transplant themselves half way around the world to find riches. People have sought gold as a means of creating a good life for themselves. Read more
Silver spot price:
With the spot price at yearly lows, the debate over the outlook for the price direction of silver rages.
I came across this interesting podcast talking about what’s happened to cause this huge drop in the spot price of silver and what the outlook for silver prices may be:
Investing in Gold
A Swiss gold referendum is set to be voted on in a few weeks.
This is a modern day example of the people of a country trying to force the government bureaucrats back to sound monetary policy. The Swiss franc at one time was one of the most valued currencies in Europe, then, as many other countries have done the Swiss bureaucrats decided the monetary system did not need to be backed by actual gold. Since that time, the Swiss franc has dropped in purchasing power, and a huge real estate bubble has formed as housing prices spiked upward.
If this gold referendum does pass, it could force the Swiss National Bank to more than double its gold reserves within five years, sending gold prices up and spurring volatility for the usually steady Swiss Franc.
Also, the referendum sets a five-year timeline to complete the transition and requires that the Swiss Central Bank could never sell its gold again Read more