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Looks like instability in the Persian Gulf has had one positive outcome with gold topping AU$2000 for the first time.

Certainly will run higher but may need to consolidate first. Traders taking profits may also push it down:

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Well has been going nowhere for awhile, have been putting off a smelt, tis time.

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  • jrbeatty changed the title to Gold Hitting Record $AU Highs

Yea, me too.  I must have about 30 nuggets I need to get smelted to cash in while the price is high.

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Slap enough of these puppies together and I might have a good melt result.

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 I remember gold being around the $500 mark before I got into detecting, we use to sluice all week just making enough to keep going. On one trip my prospecting mate thought he could make more money if he smelted his gold he found that week to make fake nuggets. It ended in disaster, he poured the gold into a jar of water & it exploded on him. I had tears rolling down my face from laughing so hard, but unfortunately for old mate we never found his gold... none of us owned a detector at the time! 

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 I would like to deliver a long dissertation on world monetary and economic dynamics for you folks but I'm going prospecting. With prices up like this I loose a a lot less money mining.

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I don't sell my gold.   My hope is that the price rises so that I break even.  Sometimes the gold found won't pay for gas or even the caffeine that keeps you awake on the long drive home.  But I still LOVE it

 

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