A leather satchel stuffed with rubies, emeralds and diamonds, engulfed by the concrete parking lot at the Hollywood Bowl, stashed there by a lone sheepherder centuries ago, after he nicked it from agents of the Mexican emperor Maximilian.
gold nuggets
Thursday, October 05, 2006
Friday, August 11, 2006
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Tuesday, August 08, 2006
Largest single mass of gold ever found in Colorado
BRECKENRIDGE - On July 23, 1887, two miners working a lease on the Gold Flake vein on Farncomb Hill, at the head of the renowned French Gulch placer-mining district near here, struck the mother of all lodes - a pocket of gold nuggets the likes of which had never been seen before in Colorado.
In just four hours, miners Tom Groves and Harry Lytton removed more than 243 troy ounces, or 20 pounds, of gold from this pocket, including a single nugget weighing 160 troy ounces. After breaking off two sections, leaving a piece weighing a little more than 136 troy ounces, the jubilant partners headed to town with their find, which Groves carried wrapped in a blanket and cradled in his arms like a baby - Tom’s Baby.
The name stuck, and Tom’s Baby soon became known as the state’s largest gold nugget. Technically, though, this natural wonder wasn’t a nugget at all. A nugget is defined as worn, alluvial (deposited by running water) gold mined from a placer. Tom’s Baby was, instead, a large mass of crystallized lode gold - still the largest ever known to have been mined in Colorado.
Like Edwin Carter’s wildlife specimens, Tom’s Baby also landed, in 1900, in what is now the Denver Museum of Nature & Science, where it was displayed as the centerpiece of mining magnate John F. Campion’s private collection of gold from his Breckenridge-area mines. But after several years, the specimen vanished - not only from its display but also from the museum’s inventory. Within decades, most people had forgotten both the spectacular find and the fact that Tom’s Baby had apparently been "kidnapped."
Then in 1972, two large gold pieces weighing 78 and 24 troy ounces were discovered in a Denver bank vault. When fitted together, they formed a specimen that perfectly matched a 1900 photograph of Tom’s Baby (minus 34 troy ounces that somehow became separated from the specimen and had long been considered distinct pieces in the Campion collection).
It seems that museum personnel had accidentally broken Tom’s Baby while cleaning it. The two pieces were subsequently placed in the bank vault for safekeeping - and incredibly, that’s where they stayed for the next half-century. Fortunately, the 102-troy-ounce Tom’s Baby has since been reassembled and today, Colorado’s finest specimen of lode gold is again on display at the Denver museum.
View natural gold nuggets at: http://www.california-gold-rush-miner.us
In just four hours, miners Tom Groves and Harry Lytton removed more than 243 troy ounces, or 20 pounds, of gold from this pocket, including a single nugget weighing 160 troy ounces. After breaking off two sections, leaving a piece weighing a little more than 136 troy ounces, the jubilant partners headed to town with their find, which Groves carried wrapped in a blanket and cradled in his arms like a baby - Tom’s Baby.
The name stuck, and Tom’s Baby soon became known as the state’s largest gold nugget. Technically, though, this natural wonder wasn’t a nugget at all. A nugget is defined as worn, alluvial (deposited by running water) gold mined from a placer. Tom’s Baby was, instead, a large mass of crystallized lode gold - still the largest ever known to have been mined in Colorado.
Like Edwin Carter’s wildlife specimens, Tom’s Baby also landed, in 1900, in what is now the Denver Museum of Nature & Science, where it was displayed as the centerpiece of mining magnate John F. Campion’s private collection of gold from his Breckenridge-area mines. But after several years, the specimen vanished - not only from its display but also from the museum’s inventory. Within decades, most people had forgotten both the spectacular find and the fact that Tom’s Baby had apparently been "kidnapped."
Then in 1972, two large gold pieces weighing 78 and 24 troy ounces were discovered in a Denver bank vault. When fitted together, they formed a specimen that perfectly matched a 1900 photograph of Tom’s Baby (minus 34 troy ounces that somehow became separated from the specimen and had long been considered distinct pieces in the Campion collection).
It seems that museum personnel had accidentally broken Tom’s Baby while cleaning it. The two pieces were subsequently placed in the bank vault for safekeeping - and incredibly, that’s where they stayed for the next half-century. Fortunately, the 102-troy-ounce Tom’s Baby has since been reassembled and today, Colorado’s finest specimen of lode gold is again on display at the Denver museum.
View natural gold nuggets at: http://www.california-gold-rush-miner.us
Wednesday, July 12, 2006
Gold near 5-week high, safe-haven buying supports - Yahoo! News
Gold near 5-week high, safe-haven buying supports - Yahoo! News: "Gold near 5-week high, safe-haven buying supports By Atul Prakash
Wed Jul 12, 6:15 AM ET
LONDON (Reuters) - Gold traded on Wednesday near five-week highs, supported by firm oil prices and nervousness following bomb attacks which killed more than 180 people in India's financial hub of Mumbai.
But there was no big rush to buy as the market digested the news, with focus now shifting to the currency and oil markets and U.S. data on international trade and consumer sentiment, due on Wednesday and Friday respectively.
'It was partly stimulated by the bomb attack in India, but it was also triggered by a good-looking technical picture in the market,' Alexander Zumpfe, a metals trader at Germany's Heraeus Metallhandels-Gesellschaft mbH, said about the price surge.
'Actually there is no big change in sentiment,' he said, adding that people would see price dips as buying opportunities.
Gold climbed to $643 an ounce on Tuesday, its highest since June 5, on investment buying after a series of bombs hit at least seven packed commuter trains during the rush hour in Mumbai.
Spot gold was quoted at $642.00/643.00 an ounce by 0958 GMT, against $642.10/644.10 late in New York." For the real-time N.Y. gold spot price, visit gold miner website.
Wed Jul 12, 6:15 AM ET
LONDON (Reuters) - Gold traded on Wednesday near five-week highs, supported by firm oil prices and nervousness following bomb attacks which killed more than 180 people in India's financial hub of Mumbai.
But there was no big rush to buy as the market digested the news, with focus now shifting to the currency and oil markets and U.S. data on international trade and consumer sentiment, due on Wednesday and Friday respectively.
'It was partly stimulated by the bomb attack in India, but it was also triggered by a good-looking technical picture in the market,' Alexander Zumpfe, a metals trader at Germany's Heraeus Metallhandels-Gesellschaft mbH, said about the price surge.
'Actually there is no big change in sentiment,' he said, adding that people would see price dips as buying opportunities.
Gold climbed to $643 an ounce on Tuesday, its highest since June 5, on investment buying after a series of bombs hit at least seven packed commuter trains during the rush hour in Mumbai.
Spot gold was quoted at $642.00/643.00 an ounce by 0958 GMT, against $642.10/644.10 late in New York." For the real-time N.Y. gold spot price, visit gold miner website.
Monday, July 03, 2006
Gold Price Moves Up
Bloomberg.com: Worldwide: "Gold Rises to Near 1-Month High; ECB May Quicken Rate Increases
July 3 (Bloomberg) -- Gold rose to the highest in almost a month in London on speculation the European Central Bank will quicken the pace of interest rate increases on concern inflation is accelerating.
Investors are increasing bets that the ECB will step up the pace of rate adjustments as faster economic growth and near-record oil prices stoke inflation. Gold had its biggest one-day gain since 2001 on June 30 after the U.S. Federal Reserve indicated it may take a break from raising rates, curbing demand for the dollar and boosting the appeal of gold.
``Expectations of a stronger euro and the Fed's less hawkish comments has weakened the dollar, boosting gold,'' said Simon Toyne, an analyst at Numis Securities Ltd. in London. ``Inflation is one of the drivers of gold in the longer term.'' View natural gold nuggets at: http://www.california-gold-rush-miner.us
July 3 (Bloomberg) -- Gold rose to the highest in almost a month in London on speculation the European Central Bank will quicken the pace of interest rate increases on concern inflation is accelerating.
Investors are increasing bets that the ECB will step up the pace of rate adjustments as faster economic growth and near-record oil prices stoke inflation. Gold had its biggest one-day gain since 2001 on June 30 after the U.S. Federal Reserve indicated it may take a break from raising rates, curbing demand for the dollar and boosting the appeal of gold.
``Expectations of a stronger euro and the Fed's less hawkish comments has weakened the dollar, boosting gold,'' said Simon Toyne, an analyst at Numis Securities Ltd. in London. ``Inflation is one of the drivers of gold in the longer term.'' View natural gold nuggets at: http://www.california-gold-rush-miner.us
Wednesday, June 21, 2006
Recent slide fails to squelch gold bugs
globeandmail.com : Recent slide fails to squelch gold bugs: "VANCOUVER -- Gold may have been beaten up in recent weeks, but true believers are not losing faith.
'A $740 [U.S.] per ounce gold price is nothing -- it should be double that,' said Bill Murphy, chairman of the Gold Anti-Trust Action Committee, a Dallas-based group that tirelessly promotes a gold-price suppression theory involving central banks, trading houses and governments.
'This is Mickey Mouse stuff; the real action hasn't even happened yet.'
Mr. Murphy and other gold fans would have taken heart from the precious metal's performance yesterday, when gold prices climbed on reports of weapons testing in North Korea and continuing jitters over nuclear programs in Iran. Prior to that, gold prices had fallen for five consecutive weeks.
But yesterday, gold futures for August delivery rose $8.10 to close at $580.50 an ounce on the New York Mercantile Exchange.
Prices, which hit a high of $732 an ounce on May 12, are still up 30 per cent from a year ago despite the recent slide.
'The market's gotten enough of a liquidation, it's coming back to look at core fundamentals,' said Frank McGhee, head metals trader at Integrated Brokerage Services LLC in Chicago. 'Gold will start refocusing on North Korea, Iran and the hurricane season.'
With its reputation as a safe-haven investment, gold tends to rise in times of political turmoil or tension.
'A $740 [U.S.] per ounce gold price is nothing -- it should be double that,' said Bill Murphy, chairman of the Gold Anti-Trust Action Committee, a Dallas-based group that tirelessly promotes a gold-price suppression theory involving central banks, trading houses and governments.
'This is Mickey Mouse stuff; the real action hasn't even happened yet.'
Mr. Murphy and other gold fans would have taken heart from the precious metal's performance yesterday, when gold prices climbed on reports of weapons testing in North Korea and continuing jitters over nuclear programs in Iran. Prior to that, gold prices had fallen for five consecutive weeks.
But yesterday, gold futures for August delivery rose $8.10 to close at $580.50 an ounce on the New York Mercantile Exchange.
Prices, which hit a high of $732 an ounce on May 12, are still up 30 per cent from a year ago despite the recent slide.
'The market's gotten enough of a liquidation, it's coming back to look at core fundamentals,' said Frank McGhee, head metals trader at Integrated Brokerage Services LLC in Chicago. 'Gold will start refocusing on North Korea, Iran and the hurricane season.'
With its reputation as a safe-haven investment, gold tends to rise in times of political turmoil or tension.
Thursday, June 15, 2006
Big gain in Gold!
Gold Has Biggest Gain in a Month as Dollar Drops; Silver Climbs
June 15 (Bloomberg) -- Gold had its biggest gain in a month as the dollar fell against the euro on speculation reports today will show a slowdown in U.S. economic growth. Silver rose as much as 6.6 percent.
The U.S. Federal Reserve may say industrial production probably grew 0.2 percent in May, according to the median of 76 forecasts in a Bloomberg News survey of economists. That would follow a 0.8 percent April gain. A Labor Department report may also show jobless claims rose last week. Gold is rebounding from a three-month low, as the weakening dollar encouraged investors to buy precious metals as alternative investments.
``Gold is moving on the back of the dollar,'' said David Gornall, head of foreign exchange and bullion at Natexis Commodity Markets Ltd. in London. ``The correlation between the dollar and gold seems to be more important now.'' "
June 15 (Bloomberg) -- Gold had its biggest gain in a month as the dollar fell against the euro on speculation reports today will show a slowdown in U.S. economic growth. Silver rose as much as 6.6 percent.
The U.S. Federal Reserve may say industrial production probably grew 0.2 percent in May, according to the median of 76 forecasts in a Bloomberg News survey of economists. That would follow a 0.8 percent April gain. A Labor Department report may also show jobless claims rose last week. Gold is rebounding from a three-month low, as the weakening dollar encouraged investors to buy precious metals as alternative investments.
``Gold is moving on the back of the dollar,'' said David Gornall, head of foreign exchange and bullion at Natexis Commodity Markets Ltd. in London. ``The correlation between the dollar and gold seems to be more important now.'' "
Tuesday, June 13, 2006
HUGE Gold Price Drop
SABCnews.com - economy/indicators: "Gold price drops by biggest margin ever
Gold lost its glitter today as its shares fell by its biggest margin since July 2004
June 13, 2006, 18:30
Gold lost its glitter today as its shares fell by its biggest margin since July 2004. At one stage the gold index, which is home to three of the top five gold producers in the world, fell by nearly 11% as the gold price dropped to below $600 an ounce.
But South Africa was not alone as world markets also suffered major losses due to fears that higher inflation and interest rates will smother economic growth. The timing could not have been worse. Over the last two days, the JSE hosted an exhibition promoting mining companies on the stock exchange. But a stronger US dollar spoilt the party. It has made gold more expensive, which leads to a lack of demand and a lower price. "
Gold lost its glitter today as its shares fell by its biggest margin since July 2004
June 13, 2006, 18:30
Gold lost its glitter today as its shares fell by its biggest margin since July 2004. At one stage the gold index, which is home to three of the top five gold producers in the world, fell by nearly 11% as the gold price dropped to below $600 an ounce.
But South Africa was not alone as world markets also suffered major losses due to fears that higher inflation and interest rates will smother economic growth. The timing could not have been worse. Over the last two days, the JSE hosted an exhibition promoting mining companies on the stock exchange. But a stronger US dollar spoilt the party. It has made gold more expensive, which leads to a lack of demand and a lower price. "
Monday, June 05, 2006
Gold Price Slide Over?
Gold May End 3-Week Slide on Speculation Dollar Will Decline
June 5 (Bloomberg) -- Gold may end its three-week slide on speculation the dollar will drop against the euro and yen, boosting the metal's appeal as an alternative investment to U.S. stocks and bonds.
Fifteen of 28 traders, investors and analysts surveyed by Bloomberg News from Sydney to Chicago on June 1 and June 2 advised buying gold, which fell 2.5 percent last week in New York. Five recommended selling, and eight were neutral.
Gold is up 24 percent this year as the dollar fell 7.7 percent against a basket of six major currencies. The Standard & Poor's 500 Index climbed 3.2 percent this year, and Treasuries have lost 1.6 percent. Traders say that U.S. Treasury Secretary nominee Henry Paulson will continue a Bush administration push for a weaker dollar.
``Investors are going to start realizing the U.S. is on a deliberate campaign to debase the dollar,'' said Peter Schiff, chief executive officer of Darien, Connecticut-based brokerage Euro Pacific Capital, which manages about $400 million. ``When the dollar comes under a lot of pressure, there's a very strong case for owning gold.'' "
Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us/
June 5 (Bloomberg) -- Gold may end its three-week slide on speculation the dollar will drop against the euro and yen, boosting the metal's appeal as an alternative investment to U.S. stocks and bonds.
Fifteen of 28 traders, investors and analysts surveyed by Bloomberg News from Sydney to Chicago on June 1 and June 2 advised buying gold, which fell 2.5 percent last week in New York. Five recommended selling, and eight were neutral.
Gold is up 24 percent this year as the dollar fell 7.7 percent against a basket of six major currencies. The Standard & Poor's 500 Index climbed 3.2 percent this year, and Treasuries have lost 1.6 percent. Traders say that U.S. Treasury Secretary nominee Henry Paulson will continue a Bush administration push for a weaker dollar.
``Investors are going to start realizing the U.S. is on a deliberate campaign to debase the dollar,'' said Peter Schiff, chief executive officer of Darien, Connecticut-based brokerage Euro Pacific Capital, which manages about $400 million. ``When the dollar comes under a lot of pressure, there's a very strong case for owning gold.'' "
Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us/
Wednesday, May 24, 2006
5.4% Gold Spot Price Drop!
Bloomberg.com: Commodities: "Gold Falls 5.4 Percent, Most in 12 Years; Wide Price Swings Deter Buyers May 24 (Bloomberg) -- Gold in New York tumbled 5.4 percent, the most in 12 years, as wide price fluctuations drove investors out of the market. Gold last week declined 7.6 percent, the most since 1990, amid speculation a five-year rally was ending. The metal has fallen 13 percent from a 26-year high of $732 an ounce on May 12. ``You're getting these whipsaw moves,'' said Michael Guido, director of hedge fund marketing and commodity strategy at Societe Generale in New York. ``It's freaking a lot of people out. If this keeps up for the next week, the market's going to dry up.'' Gold futures for June delivery fell $36.20 to $637.50 on the Comex division of the New York Mercantile Exchange, the lowest in almost a month. The percentage drop was the biggest since August 1993. Prices still have gained 53 percent in the past year. Investors are putting money in cash and waiting for broad price changes to end before buying again, some analysts said. Gold Falls 5.4 Percent, Most in 12 Years; Wide Price Swings Deter Buyers May 24 (Bloomberg) -- Gold in New York tumbled 5.4 percent, the most in 12 years, as wide price fluctuations drove investors out of the market. Gold last week declined 7.6 percent, the most since 1990, amid speculation a five-year rally was ending. The metal has fallen 13 percent from a 26-year high of $732 an ounce on May 12. ``You're getting these whipsaw moves,'' said Michael Guido, director of hedge fund marketing and commodity strategy at Societe Generale in New York. ``It's freaking a lot of people out. If this keeps up for the next week, the market's going to dry up.'' Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us
Tuesday, May 09, 2006
Gold Prices Hit Highest Level Since 1980
Gold Prices Hit Highest Level Since 1980 - Yahoo! News: "Gold Prices Hit Highest Level Since 1980 By MADLEN READ, AP Business Writer
Tue May 9, 5:05 PM ET
NEW YORK - Gold prices surged Tuesday above $700 an ounce — a level not reached since 1980 — as funds bought into the market, driven by weakness in the dollar, political tension in the Middle East and overall upward momentum in the commodities markets.
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These persistent factors have been pushing gold prices to multi-decade records for months now. Gold has risen 40 percent since late November, when for the first time in two decades the most-active contract broke through $500 an ounce.
Surpassing $700 an ounce 'is important, insofar as it reinforces the overall uptrend of the market. There are people looking for much, much higher,' said Bernard Hunter, director of precious metals at Scotia Mocatta, a division of the Bank of Nova Scotia.
Hunter said prices will likely consolidate at this level, then once again start heading higher. Some market watchers are expecting gold to breach the $1,000-an-ounce mark."
"Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us
Tue May 9, 5:05 PM ET
NEW YORK - Gold prices surged Tuesday above $700 an ounce — a level not reached since 1980 — as funds bought into the market, driven by weakness in the dollar, political tension in the Middle East and overall upward momentum in the commodities markets.
ADVERTISEMENT
These persistent factors have been pushing gold prices to multi-decade records for months now. Gold has risen 40 percent since late November, when for the first time in two decades the most-active contract broke through $500 an ounce.
Surpassing $700 an ounce 'is important, insofar as it reinforces the overall uptrend of the market. There are people looking for much, much higher,' said Bernard Hunter, director of precious metals at Scotia Mocatta, a division of the Bank of Nova Scotia.
Hunter said prices will likely consolidate at this level, then once again start heading higher. Some market watchers are expecting gold to breach the $1,000-an-ounce mark."
"Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us
Friday, May 05, 2006
Gold Prices Rise on Surging Euro
Gold Prices Rise on Surging Euro - Yahoo! News: "CHICAGO - Gold prices rose Friday, drawing support from a U.S. jobs report that sent the euro soaring to a one-year high.
June gold rose to $686.50 an ounce on the New York Mercantile Exchange moments after the monthly report on U.S. non-farm payrolls, stopping just shy of the fresh 25-year high of $687 hit in overnight trading.
In mid-morning trading, the contract was at $680.50 an ounce, up $4 from a day earlier.
July silver was up 5.5 cents to $13.88 an ounce after an overnight high of $14.14.
The gains are due to 'sheer momentum, combined with a weakening U.S. dollar and no real sign of any lessening of the geopolitical tensions worldwide,' said Peter Grandich, analyst and publisher of the Grandich Letter."
Please visit our website to view some stunning California gold nuggets.
June gold rose to $686.50 an ounce on the New York Mercantile Exchange moments after the monthly report on U.S. non-farm payrolls, stopping just shy of the fresh 25-year high of $687 hit in overnight trading.
In mid-morning trading, the contract was at $680.50 an ounce, up $4 from a day earlier.
July silver was up 5.5 cents to $13.88 an ounce after an overnight high of $14.14.
The gains are due to 'sheer momentum, combined with a weakening U.S. dollar and no real sign of any lessening of the geopolitical tensions worldwide,' said Peter Grandich, analyst and publisher of the Grandich Letter."
Please visit our website to view some stunning California gold nuggets.
Thursday, May 04, 2006
Gold climbs as concerns about Iran spur buying
Commodities: Gold climbs as concerns about Iran spur buying - Marketplace by Bloomberg - International Herald Tribune: "NEW YORK Gold rose on Wednesday as mounting tension over Iran's nuclear program prompted investors to buy the metal as a haven.
Gold has gained 21 percent since early January, when Iran said it had resumed nuclear research. The United States, Britain and France are pressing for adoption of a United Nations resolution demanding that Iran halt its nuclear program.
'The biggest factor is Iran,' said John Licata, chief investment strategist at Blue Phoenix, an energy and precious- metals consulting company. 'A lot of investors have been buying gold as a safety play.'
Gold for June delivery rose $1.10 to $668.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us
Gold has gained 21 percent since early January, when Iran said it had resumed nuclear research. The United States, Britain and France are pressing for adoption of a United Nations resolution demanding that Iran halt its nuclear program.
'The biggest factor is Iran,' said John Licata, chief investment strategist at Blue Phoenix, an energy and precious- metals consulting company. 'A lot of investors have been buying gold as a safety play.'
Gold for June delivery rose $1.10 to $668.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us
Friday, April 28, 2006
Gold soars to new high as safe-haven on Iran
Gold soars to new high as safe-haven on Iran - Yahoo! News: "Gold soars to new high as safe-haven on Iran By Zach Howard and Martin Hayes
Fri Apr 28, 3:31 PM ET
NEW YORK/LONDON (Reuters) - Gold jumped to a 25-year high on Friday, closing up almost 3 percent in New York, on worries about record oil prices, a declining dollar and international confrontation over Iran's nuclear program.
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Near record prices for oil and base metals, along with a sharp fall in the dollar's exchange rate against the euro, fueled aggressive investor buying across the precious metals group, hoisting gold above its last high from a week ago.
Silver, which has been a shooting star in the booming commodity sector in recent weeks, but has been very volatile, jumped more than 8 percent. Yet it still played second fiddle to gold, which got an extra boost as a traditional safe-haven on the tense standoff over Iran's nuclear ambitions.
'I think gold has kind of taken on a leadership role,' Steve Platt, a broker with Archer Financials in Chicago, said, adding that the yellow metal also was benefiting from a weak dollar.
'People for a long time had not been interested in the precious metals to any big degree, but now you have started to see them look at them once again as a flight to quality in terms of asset diversification,' Platt said."
Fri Apr 28, 3:31 PM ET
NEW YORK/LONDON (Reuters) - Gold jumped to a 25-year high on Friday, closing up almost 3 percent in New York, on worries about record oil prices, a declining dollar and international confrontation over Iran's nuclear program.
ADVERTISEMENT
Near record prices for oil and base metals, along with a sharp fall in the dollar's exchange rate against the euro, fueled aggressive investor buying across the precious metals group, hoisting gold above its last high from a week ago.
Silver, which has been a shooting star in the booming commodity sector in recent weeks, but has been very volatile, jumped more than 8 percent. Yet it still played second fiddle to gold, which got an extra boost as a traditional safe-haven on the tense standoff over Iran's nuclear ambitions.
'I think gold has kind of taken on a leadership role,' Steve Platt, a broker with Archer Financials in Chicago, said, adding that the yellow metal also was benefiting from a weak dollar.
'People for a long time had not been interested in the precious metals to any big degree, but now you have started to see them look at them once again as a flight to quality in terms of asset diversification,' Platt said."
Tuesday, April 25, 2006
$6,000 GOLD??
Faber says gold price may reach $US6000 - Business - Business - smh.com.au: "Faber says gold price may reach $US6000
By Mike Firn and James Poole in Tokyo
April 26, 2006
MARC FABER, who told investors to bail out of US stocks a week before the 1987 Black Monday crash and began recommending commodities at the end of 2001, said gold might rise tenfold in the next 10 years.
'If the Dow Jones [index] goes up three times in the next 10 years, I think gold prices will go up by a minimum 10 times to something like $US6000 an ounce,' said Faber, 60, who founded Hong Kong-based Marc Faber Ltd and manages about $US200 million ($268.3 million).
The author of the newsletter The Gloom, Boom & Doom Report said gold wasn't expensive when 'you compare its price to the quantity of money that has been printed in the last 10 to 15 years in the US and the world in general'."
View natural gold nuggets at:
http://www.california-gold-rush-miner.us
By Mike Firn and James Poole in Tokyo
April 26, 2006
MARC FABER, who told investors to bail out of US stocks a week before the 1987 Black Monday crash and began recommending commodities at the end of 2001, said gold might rise tenfold in the next 10 years.
'If the Dow Jones [index] goes up three times in the next 10 years, I think gold prices will go up by a minimum 10 times to something like $US6000 an ounce,' said Faber, 60, who founded Hong Kong-based Marc Faber Ltd and manages about $US200 million ($268.3 million).
The author of the newsletter The Gloom, Boom & Doom Report said gold wasn't expensive when 'you compare its price to the quantity of money that has been printed in the last 10 to 15 years in the US and the world in general'."
View natural gold nuggets at:
http://www.california-gold-rush-miner.us
Friday, April 21, 2006
Gold, Silver Prices Rebound
Gold, Silver Prices Rebound - Yahoo! News: "NEW YORK - Gold and silver futures strengthened Friday, rebounding from Thursday's profit-taking declines.
Recent supportive influences are still at play for the metals, especially for gold, such as worries about Iran's nuclear program, rising energy prices, and the recent softer tone in the dollar.
Higher energy prices have been stoking inflation worries, while a weakening dollar makes gold a more attractive investment option."
Recent supportive influences are still at play for the metals, especially for gold, such as worries about Iran's nuclear program, rising energy prices, and the recent softer tone in the dollar.
Higher energy prices have been stoking inflation worries, while a weakening dollar makes gold a more attractive investment option."
Gold Price Predictions and natural gold nuggets all at: http://www.california-gold-rush-miner.us/
Wednesday, April 19, 2006
Gold at 25 Year HIGH
Bloomberg.com: Canada: "Gold Reaches 25-Year High, Silver Surges on Inflation Concern
April 19 (Bloomberg) -- Gold rose to a 25-year high and silver topped $14 an ounce for the first time since 1983 as investors snapped up precious metals to hedge against inflation.
Gold is up 46 percent from a year ago and silver almost doubled as oil costs reached record highs. The Goldman Sachs Commodity Index jumped 10 percent since April 7 to a record, and the Labor Department today said prices paid by U.S. consumers rose more than expected in March. Investors are increasing their holdings of precious metals to preserve purchasing power.
``There is a lot of money on the sidelines that was waiting to get in, but the market never gave them a break'' because prices kept rising, said Frank McGhee, head metals trader at Integrated Brokerage Services LLC in Chicago. ``Now they're buying, and that feeds this kind of rally.''
Gold Price Predictions and natural gold nuggets all at: http://www.california-gold-rush-miner.us
April 19 (Bloomberg) -- Gold rose to a 25-year high and silver topped $14 an ounce for the first time since 1983 as investors snapped up precious metals to hedge against inflation.
Gold is up 46 percent from a year ago and silver almost doubled as oil costs reached record highs. The Goldman Sachs Commodity Index jumped 10 percent since April 7 to a record, and the Labor Department today said prices paid by U.S. consumers rose more than expected in March. Investors are increasing their holdings of precious metals to preserve purchasing power.
``There is a lot of money on the sidelines that was waiting to get in, but the market never gave them a break'' because prices kept rising, said Frank McGhee, head metals trader at Integrated Brokerage Services LLC in Chicago. ``Now they're buying, and that feeds this kind of rally.''
Gold Price Predictions and natural gold nuggets all at: http://www.california-gold-rush-miner.us
Wednesday, April 12, 2006
Win - Win for Gold!
If the global economy evades the downturn scenario, then both precious metals and base metals (copper, zinc, nickel, uranium, oil and gas) will do well as China and India's massive infrastructure development programs continue to create rising demand for these commodities.
So, regardless of your view of the global economy, some exposure to commodities is an important part of a balanced portfolio. Gold Price Predictions and natural gold nuggets all at: http://www.california-gold-rush-miner.us
Tuesday, April 11, 2006
GOLD Over $600.00
Investor - News: "LONDON, April 11 (Reuters) - Gold jumped above $600 an ounce to its highest in 25 years and silver set a new 23-year peak above $13 on Tuesday as funds and investors widened their exposure to surging commodities.
They poured money into precious metals to diversify their portfolios on worries about inflation, tensions in the Middle East and uncertainties over the dollar's outlook because of the U.S. trade and budget deficits, analysts said.
'At the moment, I wouldn't try to bet against the continuation of the rally,' said Wolfgang Wrzesniok-Rossbach, head of precious metals marketing at Germany's Heraeus.
'In terms of fundamentals, it shouldn't be here. In terms of charts, there is not much you can see. It's certainly speculative money which flows here into all precious metals.'"
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They poured money into precious metals to diversify their portfolios on worries about inflation, tensions in the Middle East and uncertainties over the dollar's outlook because of the U.S. trade and budget deficits, analysts said.
'At the moment, I wouldn't try to bet against the continuation of the rally,' said Wolfgang Wrzesniok-Rossbach, head of precious metals marketing at Germany's Heraeus.
'In terms of fundamentals, it shouldn't be here. In terms of charts, there is not much you can see. It's certainly speculative money which flows here into all precious metals.'"
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Creamer Media's Mining Weekly Online, South African Mining News :: Breaking News
Creamer Media's Mining Weekly Online, South African Mining News :: Breaking News: "SA gold output falls 8,7% year-on-year in February
South African gold output fell 8,7% in volume terms while overall minerals production declined 5,6% in February compared with the same month last year, official data showed on Tuesday.
Production of non-gold minerals fell by 4,8% in February, Statistics South Africa added.
In January year-on-year gold sales rose 29,6% to R2,3-billion, sales of non-gold minerals increased by 19,5% to R9,34-billion and total mineral sales gained 21,4% to R11,64-billion, a statement on www.statssa.gov.za said. "
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South African gold output fell 8,7% in volume terms while overall minerals production declined 5,6% in February compared with the same month last year, official data showed on Tuesday.
Production of non-gold minerals fell by 4,8% in February, Statistics South Africa added.
In January year-on-year gold sales rose 29,6% to R2,3-billion, sales of non-gold minerals increased by 19,5% to R9,34-billion and total mineral sales gained 21,4% to R11,64-billion, a statement on www.statssa.gov.za said. "
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Monday, April 10, 2006
Four reasons for gold to hit $1,000 an ounce
Four reasons for gold to hit $1,000 an ounce: "Four reasons for gold to hit $1,000 an ounce
By Lord William Rees-Mogg
Money Week
Monday, March 6, 2006
Former Editor-in-Chief for the Times of London and Vice-Chairman of the BBC, Lord William Rees-Mogg, identifies the four factors which are likely to cause gold to reach $1,000 per ounce by the end of the decade. Lord Rees-Mogg has been credited with accurately forecasting glasnost, the fall of the Berlin Wall, as well as the 1987 stock market crash.
The gold price has doubled in the last three years. It has now settled at around $550 an ounce, after some profit taking. The World Gold Council expects that it will go to $600 an ounce by the end of the year...
It seems likely that the gold price will continue to rise; another doubling of the price in the next three to five years is entirely plausible on the known facts. I have expected the price to go above $500 an ounce since the rise started and I now expect it to reach $1,000 an ounce by the end of the decade... "
By Lord William Rees-Mogg
Money Week
Monday, March 6, 2006
Former Editor-in-Chief for the Times of London and Vice-Chairman of the BBC, Lord William Rees-Mogg, identifies the four factors which are likely to cause gold to reach $1,000 per ounce by the end of the decade. Lord Rees-Mogg has been credited with accurately forecasting glasnost, the fall of the Berlin Wall, as well as the 1987 stock market crash.
The gold price has doubled in the last three years. It has now settled at around $550 an ounce, after some profit taking. The World Gold Council expects that it will go to $600 an ounce by the end of the year...
It seems likely that the gold price will continue to rise; another doubling of the price in the next three to five years is entirely plausible on the known facts. I have expected the price to go above $500 an ounce since the rise started and I now expect it to reach $1,000 an ounce by the end of the decade... "
Friday, April 07, 2006
Gold Pulls Back
NEW YORK, April 7 (Reuters) - Gold futures in New York tumbled from a 25-year high on Friday morning, pressured by speculator and trade selling as the dollar climbed after a closely watched U.S. jobs report and as oil prices eased.
Market sources said that investors were pocketing part of the heady gains seen this week across the precious metals group when prices surged to multi-decade highs.
Silver moved lower, after stretching up to a new 22-year peak above $12 an ounce, on further speculative buying. Platinum and palladium also pulled back.
"The gold market reaching that $600 level I think might be encouraging a little profit taking," said James Quinn, commodities commentator for AG Edwards & Sons in New York. "And, I think that we're coming off on the jobs report and it's the end of the week and you have a lower oil price."
Gold for June delivery fell $9.60 to $590.10 an ounce by 10:41 a.m. EDT on the New York Mercantile Exchange's COMEX division.
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Market sources said that investors were pocketing part of the heady gains seen this week across the precious metals group when prices surged to multi-decade highs.
Silver moved lower, after stretching up to a new 22-year peak above $12 an ounce, on further speculative buying. Platinum and palladium also pulled back.
"The gold market reaching that $600 level I think might be encouraging a little profit taking," said James Quinn, commodities commentator for AG Edwards & Sons in New York. "And, I think that we're coming off on the jobs report and it's the end of the week and you have a lower oil price."
Gold for June delivery
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Wednesday, April 05, 2006
Australia could be biggest gold producer - Breaking News - Business - Breaking News
Australia could be biggest gold producer - Breaking News - Business - Breaking News: "Australia could become the world's number one gold producer at a time of record high gold price if exploration was increased, a conference has heard.
West Australian resources minister John Bowler said gold was currently out of the spotlight due to a focus on other commodities such as iron ore and nickel.
'But I don't think gold has come and gone,' he told a the Paydirt gold conference in Perth.
'I think it will have a future for forever and a day.'
Australia currently sits behind rival gold producer South Africa in the list of top gold producing countries and last year produced about 169 tonnes of gold."
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West Australian resources minister John Bowler said gold was currently out of the spotlight due to a focus on other commodities such as iron ore and nickel.
'But I don't think gold has come and gone,' he told a the Paydirt gold conference in Perth.
'I think it will have a future for forever and a day.'
Australia currently sits behind rival gold producer South Africa in the list of top gold producing countries and last year produced about 169 tonnes of gold."
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Friday, March 31, 2006
Bloomberg.com: Canada
Bloomberg.com: Canada: "Gold Heads for Largest Quarterly Gain Since 1999 on Fund Demand
March 31 (Bloomberg) -- Gold headed for its biggest quarterly gain since 1999 as investment funds bought the metal and other commodities on speculation they will continue to outpace other securities such as equities.
Gold, which yesterday traded at a 25-year high, gained 18 percent 2006, beating the 3 percent increase posted by the Standard & Poor's 500 Index of U.S. companies. The amount of money in index-linked commodity funds will rise 38 percent this year to $140 billion, according to Barclays Capital.
``We are seeing demand from funds,'' said Friedrich Kernstock, an analyst at Kernco Metal Trading GmbH in Vienna, Austria. ``Gold will continue to move up steadily and could reach $650 by year end.'' "
March 31 (Bloomberg) -- Gold headed for its biggest quarterly gain since 1999 as investment funds bought the metal and other commodities on speculation they will continue to outpace other securities such as equities.
Gold, which yesterday traded at a 25-year high, gained 18 percent 2006, beating the 3 percent increase posted by the Standard & Poor's 500 Index of U.S. companies. The amount of money in index-linked commodity funds will rise 38 percent this year to $140 billion, according to Barclays Capital.
``We are seeing demand from funds,'' said Friedrich Kernstock, an analyst at Kernco Metal Trading GmbH in Vienna, Austria. ``Gold will continue to move up steadily and could reach $650 by year end.'' "
Thursday, March 30, 2006
Commodities: Gold and silver surge on bets against U.S. securities - Marketplace by Bloomberg - International Herald Tribune
Commodities: Gold and silver surge on bets against U.S. securities - Marketplace by Bloomberg - International Herald Tribune: "SEATTLE Gold and silver prices surged Thursday, hitting their highest level since the early 1980s, as investment funds bet that precious metals would lead U.S. stocks and bonds. Platinum and palladium also gained.
Gold has gained about 12 percent this year, and silver has soared roughly 30 percent, outpacing a 4.4 percent rise in the Standard & Poor's 500 index.
'Precious metals are booming,' said Herwig Schmidt of Triland Metals in London. 'If you have a huge amount of money and limited commodities, this is what happens"
Gold has gained about 12 percent this year, and silver has soared roughly 30 percent, outpacing a 4.4 percent rise in the Standard & Poor's 500 index.
'Precious metals are booming,' said Herwig Schmidt of Triland Metals in London. 'If you have a huge amount of money and limited commodities, this is what happens"
Monday, March 27, 2006
Gold Forecast - HIGHER
Metals Stocks Climb on Price Forecast: Financial News - Yahoo! Finance: "Research analyst John H. Hill offered a litany of reasons for the forecast.
Metals have 'shrugged off interest rate jitters, intermittent oil and gas selloffs, multiple bouts of profit-taking, seasonal demand slowdowns' -- among other headwinds -- 'and appear to be entering the sweet spot of the commodity supercycle at extremely high price levels,' he said in a client note.
The brokerage's metals unit raised its commodity price estimates substantially for copper and nickel and upped projections modestly for aluminum and gold."
Metals have 'shrugged off interest rate jitters, intermittent oil and gas selloffs, multiple bouts of profit-taking, seasonal demand slowdowns' -- among other headwinds -- 'and appear to be entering the sweet spot of the commodity supercycle at extremely high price levels,' he said in a client note.
The brokerage's metals unit raised its commodity price estimates substantially for copper and nickel and upped projections modestly for aluminum and gold."
Sunday, March 19, 2006
China to open theme park dedicated to gold - Yahoo! News
China to open theme park dedicated to gold - Yahoo! News: "BEIJING (AFP) - Gold-hungry China plans to open what it has billed the world's first theme park dedicated entirely to the precious metal, state media reports.
Construction of the theme park kicked off Saturday near a working mine at Rushan city, east China's Shandong province, the Xinhua news agency said.
When the 3.6-square-kilometer (1.4-square-mile), 200-million-yuan (25-million-dollar) park is completed, it will allow visitors to watch gold being mined and processed.
It will also include a DIY area where the visitors themselves can be gold miners for a day, according to the agency.
China is the world's third-biggest market for gold after India and the United States, according to the World Gold Council, an industry organization.
Last year, Chinese demand for gold rose eight percent to more than 250 tonnes, the council's data showed."
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Construction of the theme park kicked off Saturday near a working mine at Rushan city, east China's Shandong province, the Xinhua news agency said.
When the 3.6-square-kilometer (1.4-square-mile), 200-million-yuan (25-million-dollar) park is completed, it will allow visitors to watch gold being mined and processed.
It will also include a DIY area where the visitors themselves can be gold miners for a day, according to the agency.
China is the world's third-biggest market for gold after India and the United States, according to the World Gold Council, an industry organization.
Last year, Chinese demand for gold rose eight percent to more than 250 tonnes, the council's data showed."
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Tuesday, March 14, 2006
Gold Price Higher in 2006
Banking group Standard Chartered said on Tuesday that despite gold price jitters and stagnation in the gold price in its recent range between $550 a troy ounce and $570/oz, a growing acceptance of higher prices would allow further price increases in the second half of 2006.
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Saturday, March 11, 2006
Top Financial Firms - Gold Price Predictions for 2006
Merrill Lynch has upgraded its gold price forecasts by 19% to US$525/oz in calendar 2006, as reported by Reuters in an article titled Gold seen marching into 2006 with fanfare
UBS raised its 2006 forecast for gold to $520. UBS said in a report in the Australian Investment Review "Gold's fundamentals also look stronger than previously expected, as supply and demand fundamentals and investment demand all appear stronger than previously anticipated."
Statements below are from By Jim Jubak MSN Money Markets Editor 2/15/2006 7:36 AM EST
Gold is in short supply in the world -- physical demand for gold for jewelry in 2005, thanks to growing demand from India, amounted to 110% of global gold production. (Re-melting old jewelry and sales from the gold stockpiles of the world's central banks made up the difference.)
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UBS raised its 2006 forecast for gold to $520. UBS said in a report in the Australian Investment Review "Gold's fundamentals also look stronger than previously expected, as supply and demand fundamentals and investment demand all appear stronger than previously anticipated."
Statements below are from By Jim Jubak MSN Money Markets Editor 2/15/2006 7:36 AM EST
Gold is in short supply in the world -- physical demand for gold for jewelry in 2005, thanks to growing demand from India, amounted to 110% of global gold production. (Re-melting old jewelry and sales from the gold stockpiles of the world's central banks made up the difference.)
Please visit our website to view some stunning California gold nuggets.
Friday, March 10, 2006
2006 Gold Price Predictions
"James Turk, the founder of GoldMoney.com, and expert on gold was on Canadian Television this week predicting the gold price would hit US$600 in the first quarter of 2006, and US$900 before the end of 2006.
Bill Murphy of GATA.org (Gold Anti-Trust Action Committee), predicts the gold price will reach US$1,000 an ounce by the end of 2006.
When considering these gold price predictions for 2006 it is worth keeping in mind that in today's $ based on inflation gold would have to hit $2200US to be equal with the all time high of $875 reached in 1981.
Newmont Mining's President Pierre Lassonde has publicly declared he expects prices to be around $525 in January 2006. Newmont's president said gold 'may rise to more than $1,000 an ounce in the next five to seven years as demand growth driven by Asia outstrips global supply.'
Please visit our website to view some stunning California gold nuggets.
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