Precious Metals

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…)

By Bob711, ago

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…)

By Bob711, ago

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…)

By Bob711, ago

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…)

By Bob711, ago

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…)

By Bob711, ago

Arizona gold prospectors Thanksgiving

Arizona Gold Prospectors Thanksgiving

In the heart of the Arizona Territory, where the sun beat down mercilessly and the saguaros stood like silent sentinels, a motley crew of gold prospectors found themselves stranded on Thanksgiving Day. Their trusty wagon had succumbed to the treacherous terrain, leaving them stranded in a desolate canyon, far from any semblance of civilization.

Arizona gold prospectors Thanksgiving

Arizona gold prospectors Thanksgiving

As the day dawned, casting long shadows across the parched landscape, the prospectors gathered around a meager campfire, their faces etched with worry. Their supplies were dwindling, and the harsh desert offered little sustenance. But amidst the despair, a glimmer of hope emerged. (more…)

By Bob711, ago

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…)

By Bob711, ago

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…)

By Bob711, ago

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…

By Bob711, ago

New gold rush

Victoria’s new gold rush

The gold rushes helped define Australia and built the prosperity of Victoria. 

Now there’s a ‘new gold rush’, with a surge in mining activity on old reefs bringing new life to the state’s historic gold towns. (more…)

By Bob711, ago

Silver Mining and Refining at Cerro Gordo

Silver Mining

The Union Mine, Cerro Gordo

Cerro Gordo is a privately owned Mining Town located in the Owens Valley near Lone Pine, California. On this trip our mission is to go down deep into the Union Mine and gather some high grade silver and lead ore. To do this we need to descend over 400′ underground on a hoist from the 1860’s! Once we get to the ore face we high grade out some very rich galena ore and bring it back to the surface! My mission is to make something cool for Brent out of the lead and silver,

One man has been living the post-apocalyptic lifestyle in his own wasteland since early last year. Brent Underwood, a young entrepreneur, bought the abandoned California ghost town of Cerro Gordo in 2018 for $1.4 million. (more…)

By Bob711, ago

Huge Gold Nugget

Huge Gold Nugget

Found a 3.9oz gold nugget  Gold Prospecting NZ

 

NZ gold prospectors have their best day ever!  They made a little mistake on the video in their excitement of weighing the nugget when we went from grams to oz and forgot to put it into troy oz , so the nugget was 3.98oz not 4 2oz. (more…)

By Bob711, ago