Friday, February 27, 2009

HookedonGold Gazette 2/27/09

Won't Be Picking up Anything Like That with the New Federal Regulations on What you Can Pick Up on Federal Lands....

· Gold Spot Closing Price for Friday: $939.60…that’s below the close two weeks ago.
· Spot price last Gazette: $993.20

Calendar of Events
· 2nd Groundhog Day
· 5th – 13th TUCSON Show (boy do we wish we could be there!)
· 11th GPOC Regular Meeting 7:00 p.m.
· 12th Lincoln’s B.D.
· 14th VALENTINES DAY Remember your honey today!
· 22nd Washington’s B.D.
· 25th Ash Wednesday
· 27th – March 1st Jeffco Jewelry, Gem and Mineral Show at the Jeffco Fairgrounds

8th Daylight Savings Time begins
11th GPOC Regular Meeting 7:00p.m.
17th St. Patrick’s Day
20th Spring Equinox

Well, the Feds have finally passed a law forbidding anyone from picking up rocks on Federal Land. (Probably includes yellow ones, too.) Don’t know, but that probably puts a crimp on any type of exploration on Federal Land. gives the story.

Gold was diving in heavy intraday trading to finish this week at $939.60. It had held in the $945 range for most of the day before dropping in the last minutes of trading.

The Jeffco Jewelry, Gem and Mineral show started today and will run through Sunday at the Jefferson County Fairgrounds. This show isn’t very big, but the vendors that attend are awesome, with a great selection of items including grab bags, and demos by the gemological society here in the Denver area. Best of all, it’s FREE and open to the public. We attend every year, and have a lot of fun along with finding some nice items that we can’t live without. LOL! The Jewelry and Gem show will be next weekend at the Merchandise Mart in the back, and I will get to visit the Emeralds again for three days in T.L.E International’s booth.

Are you getting anxious to get out and do some gold prospecting? We are, but we are also stuck in “work” mode until the end of April when Larry will retire unless the bottom falls out of our lives before then. Ya NEVER know what may be lurking around the corner. February has been mild by comparison to past years, and it makes Spring fever come a bit quickly.

In case you missed it last week, I had a twitter link to a story on how many people in India are selling their gold right now instead of buying it. The price is so high that many are selling their heirlooms to get cash. Now, it isn’t the only reason the price of gold has fallen in the past few days, but it does contribute as India buys more gold jewelry than any other country for its’ marriage season. This means that there will be more gold jewelry available in the market place that does not have to be bought outside that market, thus reducing the amount of gold jewelry they will need to buy on the open market. However, this also means that there will be more gold available to other markets if the gold bull market heats up later this year. So far, a stronger dollar is helping to keep the price of gold down, but that can only last for just so long before demand for the yellow metal exceeds supply.

Another report on gold output states that China and the U.S. have outperformed South Africa in gold output. South Africa says this is due to the ongoing problems it has been having with electrical supplies among others. In other news, gold coins world wide are becoming very hard to find. As demand is rising, coin makers will not keep up and the value will rise, some many times the spot price of gold. If gold is closing this week above its 20 day moving average, it's a good sign it will continue to rise for the near future. This all means that the placer gold you found last summer is worth more today than it was then. This year’s take will be worth more as well.

The continuing saga of roadless areas being closed produced this report I saw this week on Colorado’s roadless plan. This effects prospectors directly as the closing of dirt roads continues and limits access to the public of public lands. These areas are not “roadless”, they have many dirt roads that are not marked in them and are still considered “roadless”. You can read more about this in this article HERE. What I’d like clarified is exactly what “roadless” means. My opinion is that it is a way to get around the wilderness laws and to create “wilderness” without an act of Congress. Protected status is also used this way. This means that the public is severely limited in its’ access to public lands. We seem to be continually squeezed into smaller and smaller spots that we can access, and then everyone complains that there is so much use that those places are closed off, too. With roadless areas becoming more prevalent and the Feds now saying you can’t even pick up rocks on Federal Land, what is a body supposed to do? Stay in their house and play Wii? Gotta be a better solution. Oh, yeah. Join a gym and watch the out of doors go by on the screen of your treadmill. HA!

I followed a link off of twitter today that took me to a site with USGS maps of all the earthquakes recorded for this past week. Kinda interesting, and when I woke up to how long I had been studying it, I clicked out of it before saving the link so you could see it. Since I’m late with this newsletter, I’ll go look for it a little later and blog it to you in a day or so. (In case you didn’t see the twitter, some tree trimmers blew up a transformer in my neighborhood and the electricity was off for 2 hours of prime writing time.)

Last, I can’t go away without lamenting the closure of the Rocky Mountain News. I’ve loved and read the Rocky for over 50 years. It’s passing after almost 150 years in publication is a sad day for everyone. The Denver Post has generously decided to take over all the subscribers to the Rocky, but the slant to the whole paper is way too liberal for me. We won’t be taking a print paper in our household for the first time EVER. I spent part of the day adding news agencies to my twitter followings to get updates on what is going on in the world. Sad day for print, but an even sadder day for balanced reporting.

You will be happy to note as the days turn into spring, that my winter ranging into other territory besides gold prospecting will soon be over. I do try to bring it back to prospecting for gold, and hopefully, am successful in that attempt. So much is going on right now that does affect you and prospecting, that it is hard not to tell you about what I find out that can determine the success of your ambitions for finding gold. Some of it pertains to Colorado, some to all of the U.S. Soon, we will be out finding gold and reporting on what we are doing. My access to internet will be much better this next summer, and I am looking forward to that. Follow me on twitter or my tweets on the left hand side of this page. I retweet anything that I read that pertains to you and Twitter makes it easy to keep you updated with small bites of information. Hope you are enjoying them!

Ok, I’m outta here. All of you have a great weekend and find some gold!

Panning Kits Here
Monthly Specials HERE
Basic Prospecting Equipment

DIY Bucket Classifier

Until next week…….

Good Prospecting to You,
Shirley (MQS)
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