The price of gold has dropped over $200 in the past week. An article on the New York Times website reviews gold price trends for the past two years and explores factors that might be causing the current price changes.
The price of gold has been dropping since October. A New York Times article explores recent changes in the price of gold and the potential driving forces.
Sandia Labs has developed a gold-silver-germanium alloy that is expected to improve electronics in the high temperature, pressure and vibration environment of oil and geothermal wells.
One of the most important gold discoveries of the 20th century was made by John Livermore who found rocks that contained recoverable amounts of gold – but the gold particles were too small to see.
A guy with a metal detector found a 5.5 kilogram gold nugget near the city of Ballarat, Victoria, Australia. The nugget has an estimated value of about $282,000 based upon its gold content but a collector might be willing to pay more because it is such a unique specimen.
The United States Geological Survey has published: “Gold Deposits of the Carolina Slate Belt, Southeastern United States: Age and Origin of the Major Gold Producers”.
An enormous gold and copper deposit in the headwaters of the Bristol Bay watershed has miners, environmentalists and government agencies at odds over how natural resources should be developed.
Evelyn Mervine posts some great photos of the red garnet sands that can be seen along Western Beach in Nome, Alaska – and shows some results from her panning.
“The decade-long rise in the price of gold from less than $400 per troy ounce to over $1,600 has resulted in the renewal of gold mining and increased exploration activity in Arizona.” Quoted from “Arizona Gold Activity 2012″.
Cabinet ministers in Afghanistan are debating potential mineral resource legislation. They want the economic benefits of allowing foreign companies to explore and develop their resources but they are concerned about being taken advantage of.
“The prospectors — motivated by dwindling resources on land as well as record prices for gold and other metals — are busy hauling up samples and assessing deposits valued at trillions of dollars.” Quoted from the New York Times article.
Buying into a goldmine or an oil well sounds like a great way to “strike it rich”. Unfortunately, quite a few people who try it are cheated out of their money.
Marine treasure hunters claim to have located the SS Port Nicholson, a Britsh ship that was torpedoed by a German submarine in 1942. It was carrying over $2 billion in precious metals and industrial diamonds.
In this video, CNN Money takes you on a short visit to Barrick Gold’s Cortez Mine near Elko, Nevada.
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