Friday, January 25, 2008

Hooked on Gold Gazette Jan 25th

Summer time fun. Don't know about you, but I'm tired of being COLD!!!


· Gold Spot Closing Price for Friday: $910.50
· Spot price Jan. 18th: $880.50

Calendar of Events

1st New Years Day
9th GPOC Meeting 7:00 p.m. Colo. Springs

13th GPOC Meeting 7:00 p.m. Colo. Springs
22nd – 24th Gem and Mineral Show Jefferson County Fairgrounds, Colo.


BREAKING NEWS! Closure of three large mines today in South Africa have placed the supply of platinum and gold in jeopardy. The local utility/power supplier informed Anglo Platinum, Anglogold Ashanti, and Harmony gold mines that they would be unable to guarantee continued power supplies to them due to power shortages and worker strikes. Gold reached a high in overnight markets of $924.70 on the news.

The cost of making a penney has neared it not surpassed 2 cents. How much longer do ou think we will be carrying the coin in their present state? Aren’t we ALL picking up penney’s we find on the ground?

Ever wonder what the gold market has been doing by percentage gain each year since 2000? Well I found a chart that tells you just that. Don’t know for sure what gold will do in the future, but the past has been remarkable.

2001 33.10%
2002 20.10%
2003 54.40%
2004 8.36%
2005 40.00%
2006 20.60%
2007 31.10%

This shows an average gain of 27.27%, and will boost gold to $1061.00 per ounce by years end, if it only reaches the AVERAGE, and there are many factors working now to push it past the average.

This year, China began trading in gold futures contracts for the first time ever. The Chinese have an opportunity to buy futures contracts on gold at just 7% of the contract, making it very easy for the average person to purchase the smaller 1,000 gram contracts. The impact of these traders along with world wide traders, could have a substantial impact. As China becomes the world’s largest producer of gold, soon, according to a prediction by the China Gold Association, it could also become the worlds second heaviest buying country as well.

COLORADO is experiencing a surge in mining claim applications. “GOLD?” you ask? NOPE. Oil and uranium. The state has some of the lowest fees in the Rocky Mountain area, and the State is contemplating how much to raise them. Mining companies are complaining, but if you look at Wyoming and Utah, we are charging almost half what other states are getting. I guess you could say, I’m more in favor of the State getting more in fees than to have my income or property taxes raised. Then there is that proposed gasoline tax of 13 cents. I can’t say that the fee hike is necessarily bad for mining as they are already paying higher fees in neighboring states. Heck, if they’re lucky they can spend the fee money in court paying lawyers to fight the environmentalists and locals who don’t want mining and then take their high paying mining jobs and mine somewhere else. THAT would be great for the environment, AND the economy.

The Tucson show is coming up in February. You could be there anywhere from the first of February til around the 17th and see a lot. While much of the show is for wholesale, there is much to see for the average guy. The downtown convention center has something going on each long weekend, and there are other things al over town at many motels, and can be accessed by and “prospector”. I can promise you that if you have never been, you will be on overload by the time you leave. Plan to park your car and use the shuttles.

So, how are you planning on spending your Federal “rebate” check? That is, assuming it can pass both the houses without too many changes, (HA! Can you spell P*O*R*K?) AND you get it before the elections.

Oh! Oh! In the proposed changes to the mining laws that were talked about last summer, how did you like the one about how the water quality coming out of a mine 10 years after it was shut had to be guaranteed to be “clean”? I didn’t see any mention of any consideration of the water quality BEFORE the mine was opened.

The new template is almost finished and it should be in place in March. What with the Tucson Show coming up, there won’t be much time to switch it before we leave, so it will have to wait until we get back. It will take some time to get everything as it should be before it goes “public”. It looks great and just needs a few more tweeks to be ready to start using. Did you find gold this week?
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

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