Three Years Since Record Gold Price

[Glenn]

I have a lot of new prospectors ask me about filing claims in new areas where they have hit some gold, and I always warn them that the minute you file a claim in a new area you have just alerted everyone that follows the lr2000 that you have found something and you draw attention to your area, better to work it hard and not claim it unless you have stumbled on something worth filing. Most of the times you can get the best of the pickings in a few trips and then the area becomes marginal, I have a few areas that I have hit for years and I purposely won't file on them, they are just nice playgrounds for me and I don't have to watch over them. When gold was up higher everything was getting claimed, it has calmed down a bit now.

[azblackbird]

I totally agree. I don't plan on filing any claims on any ground unless it's just way too good to pass up and I can get investor backing for a small operation. The problem is this area is kinda sensitive to the environmentalists and all the goody two shoes, so ramping up a large commercial mining operation is pretty much out of the question. Which is kinda why I'm thinking this exploration company can see the writing on the wall, and thus are letting their claims expire.

[Glenn]

I tried to get approval from blm to take a backhoe unto some of our claims to do a little sampling and the out and out arrogance and threats of all the fines they could hit me with caused me to really wonder why we pay these people to watch over our land, they make it almost impossible to work a claim, and I understand that in the past there where abuses committed by some people but it would be nice to have an agency try to work with you instead of against you. I had a state trust claim and the people at that agency actually wanted you to mine, I was amazed at how helpful they were.

[Steve Herschbach]

Ouch! Gold just broke under the $1200 support level http://goldprice.org/gold-price-history.html

[boulder dash]

I think many people are going to panic now and sell all there gold. The people Who have the control want it to drop so they buy low and sell it high. Now is the time to find or buy anything you can. The lower price does Make it harder for the few of us that make a living finding treasure. Hopefully I don't have to get a real job.

[AzViper]

Gold prices are reflected by the current stock market, we can't have both. When gold was at its highest the stock market was hanging around 11,500. With Fridays close of 17,009 gold will continue to fall. Although I am not complaining as I bought 7,500 shares of Home Depot stock back in 2009 at $24.00 per share.

[azblackbird]

Gold prices are reflected by the current stock market, we can't have both.

 

I always thought gold was tied to the perceived strength or weakness of the dollar. 

[chickenminer]

 Although I am not complaining as I bought 7,500 shares of Home Depot stock back in 2009 at $24.00 per share.

 

    Not bad .... a very nice poke at today's price of $93 and change !

[Glenn]

I read an interesting article a while back in which the author stated that the value of gold is the constant against which all the paper fiat currencies are priced, so in actuality the gold is not changing in value it is the strength of the money that is changing value. Kind of a different way to view it. If the dollar is gaining strength in this crappy economy we have going, it must be because the rest of the world is tanking or the dollar is being artificially propped up. Makes you wonder, but I am heading to the goldfields in two weeks so I will leave that subject to the academics and I will get to what I love best, running my 4500.