Australian found $141,000 gold nugget

Have you ever in your childhood, roaming around on the beach with metal detector and hope you will find pirate's treasure or a chest full of gold but you only find some car keys and trash? If you've already give up your dream then you have to think again because who knows you will be like this lucky guy in Australia.
Mick Brown (42) is prospecting in Wedderbur, Victoria with his metal detector when the device screams very loud.
After he dug 15 cm he found this shinny nugget weight 2.7 kilograms or $141,000 worth gold nugget but Brown said he hope that collectors will offer more.
So, get up and take that metal detector, who knows you will find treasure even in your backyard.

War On Economics Terrorism

Amazing News from Pakistan a few days ago when a group of US elite force successfully put the life of King of Terror into an end. This is like a breath of fresh air in a war against terrorism, even though with the death of Osama Bin Laden cannot guarantee the terror will end, but at least it make a great loss in Al Qaeda command chain.


Another "invisible enemy" in our life is the uncertainty in our economics condition which also terrorizing our life because  we don't know when our vulnerable economics condition will be collapse.

In a war against Economics Terrorism we need a special "weapons and tactics" and off course good insurance. Once more Gold is the best insurance in our uncertain economics condition. Just let us see from a scope of house hold level, how much the income and expense and how much the savings compared with the inflation level in your country. From that simple calculation we can understand how much the "value" of our money after a few years and how much the value of Gold in the same range of time.  

Get ready and get prepared buy gold now!

Up Up and Away....

As we expected and predicted the gold price is climbing in the end of this year. As you see on the chart above, June - July gold reach one of its best price this year and decrease in the end of July. In August, the price is climb up significantly and when this report is posted, New York Spot price is opened for asked price of USD 1313.20/oz

It is predicted that the will decrease a little bit but then climb up again and will reach its peak around November or December. Even the Commerzbank Technical Analysis stated that the gold price may advance to $1,350 in three weeks!  Commerzbank technical strategist Axel Rudolph referred to  Fibonacci analysis one of the levels used to analyse gold price movement. Gold price dropped 0.1 percent on Sept. 27, the first decline in a week, and has since climbed to a record. Please open this LINK for further information about this analysis.

Gold Price: Up and Down

When I read THIS NEWS today, and I heard that Hong Kong market close its transaction today with the gold price decreasing, It is not surprising to me. For Gold speculators that want to sell their gold perhaps this news is quite disturbing, but it is a good news for those who want to buy.


Gold price will continue up and down all year long. This is a normal things for a material that equalized with "the unstable currency". For non speculators or people who keep the gold for financial security an long time investment, off course this is a change to add their savings by buying more gold. As I told you again and again, usually (Yes, I said "usually" so it is not always happen) gold price will reach its lowest price around June to August and the highest around November - December. Again for short time gold investors - I prefer to say gold speculators - buy the gold around the time when the gold price is low and sell them when the price is high. But like a few weeks a go in June, the gold price reach one of its highest price, In the beginning I said "usually" because anomaly like this happen in often.


My suggestion is don't buy gold for short time investment. If the price is high buy gold, if the price is low buy more gold. Sell your gold only when you needed the most. In my experience I can feel good "revenue" of gold after 2 or 3 years after I buy it. The longer you keep it, the higher you'll get.

GOLD: New Choice Of Investment

As GOLD shows its strength in financial crysis more and more people change their investment to gold and other precious metal.

According to the Straits Times, more and more Americans are succumbing to the charms of the yellow metal as they seek shelter from a swirling combination of fears - a double-dip recession and the debt crisis in Europe, the volatile stock markets and the shaky currencies.

The recession has been open the mind of the Americans which stocks and property are traditionaly their choice of investment to change the investment option into gold.

Last month, the sale of the one-ounce, investment-grade American Eagle gold coins zoomed to its highest level in 11 years. Some 190,000 coins were sold, nearly three times the number last year. The demand continues to be strong this month, a US Mint spokesman said on Friday as prices scaled a new high.

While coins make up a relatively small part of overall gold demand, the record sales point to a perked-up investor interest. Financier George Soros, for instance, grabbed headlines when he recently doubled the size of his gold holdings, which now represent 7.5 per cent of his US$8.8 billion (S$12.3 billion) fund.

Read the complete news here

Gold News

Appreciating the sparkle of gold

Africa Leader

Thursday 20th May, 2010

Gold has recently seen some good days due to the decline in the euro currency.

Gold bullion bars and gold coins have been is high demand, with the price of gold futures also reaching a record-high last week.

Worsening debt among European nations has reduced confidence in the world's major currencies, leading investors to take on more gold in order to preserve financial worth.

Staggering debt has forced governments to scramble and make painful decisions, allowing a speculators market for gold to emerge.

Gold extends gains to Rs 14,553 per 10 gms

Reuters

Mumbai: India gold futures extended gains for a third straight day on Monday helped by a weak rupee that made imported yellow metal expensive, analysts said.

The most active August gold contract was 0.37 per cent higher at Rs 14,553 per 10 grams at 11:19 a.m., after gaining 0.13 per cent in the previous two sessions.

The Indian rupee extended losses after falling the most in four months last week, as banks bought dollars in anticipation of foreign fund outflows from local shares.

"Gold may remain sideways on absence of major data points," said Aurobinda Prasad, deputy manager-research, with Karvy Comtrade.

Gold may be in the range of Rs 14,440-14,580, said B G Manjunath Prasad, a technical analyst with Way 2 Wealth Securities.

Open interest for August gold on MCX was at 12,717 lots, up from 12,393 a day earlier. Volume on Saturday was 0.88 kg.

source: kitco.com