Friday, December 07, 2007

Hooked on Gold Gazette Dec. 7th

You can find the Goldpanner on an ornament along with several new gifts at My New Store

Another attempt at getting a store up has made me late with this post, but still early enough for you to make your gold purchase for the weekend. LOL!

Gold Spot Closing Price for Friday: $794.40

Spot price Nov. 17: $783.10


Calendar of Events


12th GPOC Christmas Party 7:00 p.m. Bring unwrapped gifts for children for the Marines toy drive
19th GPR Members Christmas Party
31st New Year's Eve


Gold news abounds this week with the announcement of the construction that is beginning at the Climax Moly mine north of Leadville. The reopening of the mine is bringing much needed jobs to the are, and they plan to consturct several buildings in the next two years with a 2010 date for the beginning of mining operations

Also in the news this week from the financials, is the drop in production of gold in South Africa. Gold production has fallen from an output of 400 tonnes in 2001 to what will be nearly 240 estimated tonnes for 2007. Also, China will soon outpace the U.S. as the second largest gold producer in the world.

Colorado based Newmont mining has been consistently selling off it's other mining interests to concentrate on it's copper/gold production, according to a spokesperson this last week. Gold is expected to settle around $800 for the near future as the dollar continues to slide. If the Feds reduce rates again in December, it will not bode well for the dollasr, however, it will mean that U.S. goods and services will be much cheaper for foreigns counries like Canada to buy.

Another interesting thing I saw this week was that the true inflation rate in MEXICO was 3.7% this past year. Pretty impressive given their past problems. They are also creating many new jobs and are beginning to attract their own citizens away from the U.S. Now, if they succeed in keeping their people in Mexico, who will fill all the jobs in the U.S. that they do now? Interesting dilema.

Have you looked at the price of gold coins recently? The Morgan mint is advertising SILVER dollar coins for $19.95 plus shipping on very good to AU ungraded coins. Gold coins are up at least 20% since August.

As a last note, GPOC is almost ready to upload their new site. They were hopeful that they could get it done by now, but a few glitches have them jumping through hoops. Watch for it the next week or so. MERRY CHRISTMAS TO ALL!


If you find a broken link, please let us know



Until Next week.

Good Prospecting to You,

Larry and Shirley Weilnau Prospecting Videos Looking for metal detectors on e-Bay? Click here contact us
Post a Comment