Spot Gold Price Over $2,600

Spot Gold Price Over $2,600

Well, after today’s move I would say that there’s a distinct possibility we might see gold spot price at over $3,000 per ounce by the end of the year!

Spot Gold Price Over $2,600 - Gold Gold Bars - Standard Restoration Act,

Besides World tensions affecting the price of gold, tomorrow might be the first of a series of Federal Reserve interest rate cuts. It may turn out that interest rate cuts drive down the value of the dollar and thereby increase the value of gold. (more…)

Gold Price Jump

Gold Price Jump

As I’m writing this post, the futures price for gold has jumped up over $42 per ounce just today!

Gold Price Jump - Uganda gold

 

Yes, that’s the good news for gold investors, but the bad news for the rest of us is it would seem this is reflecting the fact that we’ve never been closer the World War III then we are today! (more…)

BRICS Currency Announced!

Is it Gold Backed?

There has been speculation and rumors of this currency for some time, and one major theory is that it would be backed by a basket of commodities including gold. 

However, the Kremlin recently announced they have almost completed a digital currency based on blockchain technology.  (more…)

Spot Gold Price Drop

Spot gold price drop – The biggest one-day drop in the last 2 years!

The spot gold price dropped around $74.50 per ounce today, April 22nd, 2024.

Spot gold price drop

This represents a decrease of roughly 1.66% compared to yesterday’s price. This huge one day price drop is really surprising when one considers that gold remains one of the best investments so far in 2024! (more…)

Gold Price at another NEW HIGH

Gold Price at another NEW HIGH

Yes, if you’ve been reading my past post you know that it was just a few days ago, in my prior post I said that gold had said a new record high price, that was at that time $2,349.10.

Gold Price at another NEW HIGH - Uganda gold

gold bar

Well today, gold said another new high price, and is now at $2,367.20 it was up $16.20 on today’s session.

Many people have been wondering why gold is all of a sudden on a major move up. Well, for anybody keeping up with the latest news, the reason should be quite clear. It seems gold always moves up in times of crisis, economic instability and naturally a falling dollar. Today, unfortunately we’re seeing all of these occur, and these are the reasons that gold is gone to new highs. (more…)

Gold Price Forecast 2024

Gold Price Forecast 2024

The outlook for the price of gold in 2024 is generally positive, with many analysts predicting an increase.

Gold Price Forecast 2024 - Uganda gold

 Here’s a breakdown of some predictions:

  • Increase: Most experts expect gold prices to rise in 2024, potentially exceeding the historical high of $2,073 set in May 2024. Some even predict it could reach $2,300 or higher.
  • Factors influencing the rise: Lower interest rates, a weaker US dollar, and central banks buying gold are seen as factors that could contribute to the increase.
  • Uncertainty: It’s important to remember that gold prices can fluctuate significantly, and these are just predictions. Economic factors and global events can cause unexpected changes.
  • Today: As I write this, the AM spot gold price is: $2,165.10, a new HIGH!

(more…)

Lackluster performance of gold price

Lackluster performance of gold price

With all the chaos in the world today you would expect the spot gold price to be way up. Considering that some people believe we’re the closest we’ve ever been to World War III, personally I would think we would be experiencing $3,000 Plus on the spot gold price!

Lackluster performance of gold price - Gold Gold Bars - Standard Restoration Act,

But, what do I know I’m just an Arizona weekend gold prospector?

(more…)

Gold Price Outlook 2024

Gold Price Outlook 2024

With the spot gold price approaching $2,100 an ounce, what’s the outlook for the price of gold for 2024

Gold Price Outlook 2024

Gold Price Outlook 2024

The outlook for the price of gold in 2024 is mixed, with some analysts predicting further gains and others expecting a slight decline. Here’s a breakdown of the current situation and potential factors at play: (more…)

Gold Buying

Gold Buying by Central Banks

Today, the price of gold is $1,987.90, off by $6.40. 

800 tons. – That is how much gold China’s Central banks have bought this year, up 14% from last year, according to a recent report.

Gold Buying by Central Banks - gold bars

gold bars

Keep in mind, that China although the largest purchaser of gold, is by far not the only country that’s been snapping up the yellow metal.
Many other central banks is also purchasing gold. (more…)

Central Banks and GOLD

Central Banks and GOLD

Many central banks all around the world own gold. In fact, since the late 90s, central banks around the world have been net buyers of gold. 

That wasn’t true before that. Coincidentally, that is also when the gold price bottomed ended that long bear market and began a massive, epic bull-market leading into a bubble in the late 2000s.  (more…)

Price of Gold

Price of Gold

Bloomberg recently published a piece called, ‘The Gold Market’s Great Migration Sends Bullion Rushing East.’ 

The article notes that China has imported 160 TONS of gold since April, India has added 80 tons, Turkey 62, and the list goes on. Is the U.S. — or other Western nations — selling gold to China? And if so, why wouldn’t we be buying it, instead?  (more…)

Gold Standard Restoration Act

Gold Standard Restoration Act Rep. Alex Mooney (R-WV) introduced HR9157. Titled the Gold Standard Restoration Act, the legislation would peg the dollar to a fixed weight of gold. In this video we take a look at existing reported gold holdings of the US government, along with the M2 money supply to arrive at Read more…

Gold or Bitcoin?

Gold or Bitcoin

Just a few days ago I published a post and a chart showing that this week the spot gold price hit its lowest level in the last 2 years.

Gold or Bitcoin - gold bars

gold bars

I found this amazing when one considers all the turmoil in the world especially in Ukraine and Taiwan.  If you’d like to see that post here’s the link:

https://california-gold-rush-miner.us/gold-price-3/ (more…)

New Gold Market

Russia’s New Gold Market

Russia’s new gold market proposal would create an international trading market that competes with the LBMA and could impact the price of gold, the currencies it’s denominated in, and the ability of bad actors to pull off coordinated manipulation. 

What’s the story with the BRICS reserve currency and the proposed Moscow World Standard (MWS)? (more…)