This video shows how Raffi Stepanian finds gold and diamonds in the cracks of Manhattan sidewalks. I don’t know if he really making 300 bucks per day but his techniques are interesting!
The Afghan Ministry of Mines has been inviting companies to bid on contracts to mine the copper and gold in portions of Badakhshan, Ghazni, Herat, Balkh and Sar-e-Pul Provinces. Billions of dollars worth of metals could be in these areas but there are significant infrastructure and security problems.
Goldmining companies in Australia are having trouble finding enough people who are able to handle the demands of working in underground gold mines. This story on the Wall Street Journal website explains why new miners are making six digit salaries.
An article on the MarketWatch website reports that gold is attracting more and more investors in their 20s and 30s. It suggests that they are Generation AU.
An article on the Watertown Daily Times website reviews the internship experiences of three geology students who spent last summer working at gold mines in Alaska and Nevada.
Stephen Blumberg, a jeweler in Quincy, Massachusetts, explains how the high price of gold has changed the traffic in his jewelry store and the types of things that people are buying.
Record gold prices close to $2000 per ounce lured lots of gold jewelry and gold scrap into the market. Now that these items are being melted and cast into bars the ultra secure storage vaults typically used to store gold are in great demand.
The high price of gold has turned prospecting into a hobby, a part-time job and a retirement occupation for many people. This video visits some locations in Washington state where prospecting and related activities have attracted the new gold bugs.
“The risk list gives a quick indication of the relative risk in 2011 to the supply of the chemical elements or element groups which we need to maintain our economy and lifestyle.” Quoted from the British Geological Survey news release.
“Ultra high precision analyses of some of the oldest rock samples on Earth by researchers at the University of Bristol provides clear evidence that the planet’s accessible reserves of precious metals are the result of a bombardment of meteorites more than 200 million years after the Earth was formed.” Quoted from the University of Bristol news release.
Copper deposits in the Gobi Desert have been known for hundreds of years. Now a large mine that will produce copper and gold is expected to increase Mongolia’s economic output by over 30%. Local people worry that the mine will disturb their water supplies and way of life.
In 1971 the United States went off of the gold standard. With that the US Dollar was not backed by its value in gold and was instead back by promissory authority of the US government.
Gold in Newfoundland
August 22, 2011 | Newfoundland and Labrador Department of Natural Resources
“The Island of Newfoundland represents an emerging underexplored gold district, where focused exploration for precious metals was essentially non-existent prior to the early 1980′s.” Quoted from the Newfoundland and Labrador Department of Natural Resources fact sheet.
Newfoundland and Labrador is geologically diverse and is richly endowed with a wide spectrum of minerals, including iron ore, base and precious metals, uranium, tungsten, molybdenum, antimony, rare earths and industrial minerals. [...] Yet it remains relatively under-explored compared with other mineral-rich jurisdictions, thus creating a unique opportunity for mineral resource investment and new mineral finds.
The spot price of gold hit a record high of $1,833.81 today. The price of gold has doubled since late 2007 and since the beginning of June it has risen about 19%.
“UCLA researchers and their colleagues from China and Japan have shown that by incorporating gold nanoparticles into these organic photovoltaics — taking advantage of the plasmonic effect, by which metal helps to enhance the absorption of sunlight — they can significantly improve the cells’ power conversion.” Quoted from the UCLA news release.
Gold futures for December delivery hit $1782 in today’s trading session, closing at $1743 an ounce. Gold has gone up over 20% since January 1.
Welcome to Geology News!
Every day you can find links to several earth science news topics right here.
Bookmark this page and visit often. You can also receive our news for free by RSS feed or in a daily email message.
Advertising
Popular From Geology.com
Marcellus Shale: The most overlooked resource in the eastern United States!
Diamonds from Coal? Diamonds form under a variety of conditions that rarely involve coal as a source of carbon.
Mineral Rights / Oil & Gas: Who owns the minerals under your land? Have they been sold? Can someone mine without permission?
The Many Uses of Gold: Learn how the unique properties of gold make it extremely suited for a large number of industrial uses.
