With world leaders seeming to be finding some common ground in banking this week at the G20 conference, it looks like gold is holding back a bit until we find out more about what the new agreements will mean. The selling off of more gold by the IMF (International Monetary Fund) is back on, and this could mean a rise or fall in gold depending on the mood of the market in general. Buyers could perceive this sell off as a buying opportunity, or they could decide that other investments are looking better now than in the near past. Several countries have also voiced their desire to move more of their capital back into gold, and so there is definitely demand, how much is uncertain. India did not buy gold from the market again in March, either.
The most sure sign that gold will rise could more probably be the return of inflation and a sliding dollar. This may not happen this year, but with all the money being printed around the world it is predicted to be a fact in the next year or so. When inflation is back with us, gold is positioned to rise.
So, in the mean time, you might want to get that gold prospecting equipment out and head to the hills, or wherever your favorite prospecting spot is and find yourself a little extra gold. Need a reference book to find another spot you heard about? Check out your equipment before you go, though, and make sure your pump, hoses and clamps are all working. (It's the pits when the clamps break!) Got all the screws in one place and ready to go? How about that special sized screwdriver you used for another project last winter and forgot to put back in the pack? Yeah, been there, done that! LOL! The trip to town to TRY and find another one was a real blast, too. While your at it, make sure you have all your permits up to date. You can find the forms to print off and send in for the Arkansas River drainage in Colorado and Cache Creek on this page of the BLM.gov site. Get out on some of those warm Colorado days and find some gold before we get out and find it! LOL!
Good Prospecting to You,