The Price of Gold
Gold prices are at an all time high and this has greatly affected the gold mining and gold prospecting industries and hobbies. Given this historic increase of gold prices rising we begin to see some interesting things begin to happen. Here are some dynamics I see in action, gold becomes harder to sell as the higher prices limit the buyers market except for commercial gold refiners. More people are trying to sell gold fewer are buying unless they are optimistic that they can sell later at a profit. Larger more quality pieces of gold like collectable gold nuggets and gold specimens increase greatly in price. More gold miners and prospectors attempt to recover micro fine gold instead of gold nuggets, gold flakes and fine gold. More mining claims seem to be filed overnight by people who hope to prey on the less educated and informed. More and more gold mining companies spring up over night and began to market worthless mining claims and trying to obtain venture capital based on exaggerated or false assay reports.
Gold price has effects not only on the economy of the U.S. and the world but also local economies. Many small mining equipment companies and local gold prospecting stores see huge increases in sales. Gold club memberships rise to an all time high and more individuals are out looking for guided trips and information on how and where to find gold. If you would like to communicate directly with actual gold prospectors and miners be sure to join our online forum.
Right now I'm very optimistic that gold will top one thousand dollars per ounce and some of my favorite investments at this time are in gold bullion and gold coins. Whether or not gold does reach the thousand dollars per ounce mark, exceeds it or drops back down in price one thing is for sure it is a very exciting time to be involved in the gold business. If you have not yet done so take a few moments and think about that first gold you might find or that first gold coin or gold bar you might buy.