McGees.org announces Cash4gold.com as Premier Choice on Internet

Last week, www.mcgees.org published an article titled “The choice is pretty clear: Goldkit vs. Cash4Gold”.  The article reported that Cash4Gold was the premier and clear-cut choice when it comes to Internet trading of gold.

Among the highlights in the article

The most common question asked with Internet gold buyers is: “What is the price you will pay for my gold?”  GoldKit requires an evaluation that requires more consumer and company interaction.  Cash4Gold, on the other hand, has daily updates on their website at www.cash4gold.com that list payout prices as not to deceive current and potential customers.  The major determining factors are (1) weight and (2) purity.  Cash4Gold’s most recent chart for gold, platinum and silver is as follows:

 Material                   10 - 50 oz                   50 - 100 oz

        8K                       $12.03(dwt)                      $12.68(dwt)

        10K                     $13.43(dwt)                      $14.03(dwt)

        12K                     $15.01(dwt)                      $16.44(dwt)

        14K                     $16.59(dwt)                      $18.85(dwt)

        18K                     $22.02(dwt)                      $24.87(dwt)

        22K                     $28.72(dwt)                      $29.30(dwt)

        24K                     $31.27(dwt)                      $33.00(dwt)

        PLATINUM           $48.36(dwt)                       $51.06(dwt)

        Jewelry (Plat.)      $43.53(dwt)                       $45.94(dwt)

        STERLING            $8.40ozt                            $9.60ozt

        .999 SILVER         $9.20ozt                            $12.60ozt

In addition, the positive Cash4Gold commentary from both users of the service and readers of the article included: 

“So they’re not world-shattering prices, but I think I’d recommend the known quantity, thank-you-very-much.  ‘K, bye, GoldKit!”

“Unless GoldKit publishes their prices somewhere, or quotes them over the phone.  I hate send-to-us-for-our-best-offer on commodities.  It’s not like they’re evaluating condition and grade.  They should be able to list their melt prices.

“I have used both Cash4Gold pays about 15% higher than gold kit.”

“Ooh, awesome!  Personal experience!  Thanks, Jesse!  Assuming your tale is on the level — and there is no reason to think it isn’t — you may have just put cash in my wallet.  Thanks!”

Check out the entire article HERE. 

E-Gold Cash-Worthiness and Sustainability Leads to Indictments

Information came yesterday that three executives at E-Gold have pleaded guilty to counts of money laundering and are due to serve prison terms. A fine of $1.7 million has already been paid.

According to ADA Matthew Friedrich, “"By failing to comply with money laundering laws and regulations, the E-Gold operation created an environment ripe for exploitation by criminals seeking anonymity in conducting online transactions….This case demonstrates that online payment systems must operate according to the applicable rules and regulations created to ensure lawful monetary transactions."

E-gold sells gold bar shares and operates by allowing its customers to use their virtual gold for online and international purchases. Anonymous accounts and funds that are not returnable have become a plaguing area for corporate defense. Those buying and selling e gold face the sustainability, but not the accountability during purchases. The company is now taking drastic measures to ensure that all accounts satisfy terms set forth by the Justice Department.

Dr. James has stated, "The resolution of the criminal case provides for a second chance, an opportunity to address the flaws embedded in the E-Gold system and to transform the operation into the institutions I, the other directors, and our long-suffering employees and contractors have always envisioned, one that serves to advance the material welfare of mankind."

Looking for Cash for your Gold? Visit our website at www.cash4gold.com. Learn about our insured process, our pay-out rates, and other information pertaining to gold!

Soaring Gold Prices Lead to Energy Consolidation: Barrick Gold to Pay Cash For Cadence

Late last week, Bloomberg’s Rob Delaney reported that Barrick Gold, the largest producer of gold in the world, has put in a higher offer to buy Cadence Energy Ltd.

Cadence, an energy and oil company based in Toronto, Canada, would provide Barrick with oil, allowing the company to save about 25% in related costs.

The offer from Barrick has been raised to $410 million in cash, which breaks down to $6.75 per share of Cadence stock. The original offer was for $6 per share.

The updated offer comes on the news that Daylight Resources Trust, another Canadian firm, had put in competing bids for Cadence. Daylight Resources still has the opportunity to match the Barrick offer.

As a result of the bidding war, Cadence’s stock rose to $6.76 a share on July 17th.

As gold companies deal with rising oil costs, they are taking advantage of the high pay-out costs for gold and are attempting to re-route those profits to save into other energy initiatives.

Are you keeping up with current gold prices? Check out our website at www.cash4gold.com to see the premium prices we pay for your old gold jewelry!

Gold gains on inflation concerns

Following historical trends, gold rose on speculation that the slowing economy in the US and their higher inflation will create a rise in demand for gold as an asset of value. Silver, on the other hand fell. Gold reached an all-time high of $US1,033.90 an ounce on March 17.

"Gold is acting as an alternative investment, big time,'' said Ron Goodis, a futures-trading director at Equidex Brokerage Group Inc. in Closter, New Jersey. "People are liquidating across all asset classes, and they're looking for a place where it's safe. We could see a situation where a lot of commodities go down, but gold takes off. Gold is a fear trade.''

Gold futures for August delivery rose $US8, or 0.8%, to $US970.70 an ounce on the Comex division of the New York Mercantile Exchange. The metal has climbed in six of the past seven sessions .

Investment in the SPDR Gold Trust, the biggest exchange-traded fund backed by gold, jumped 7.2% last week to an all-time high of 705.9 metric tons on July 11, topping the previous record of 663.8 tons on March 17. The fund dropped to 701.9 tons on July 14 and has remained unchanged this week. Gold peaked in March when the Federal Reserve helped broker a deal for JPMorgan Chase & Co. to buy Bear Stearns Cos .

"Gold rose on the fear in the financial system,'' said Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago. "The fear may have eased, but it hasn't evaporated. Fear will come back sooner rather than later. There's a tremendous bid on gold on these breaks.' '

Gold may rise to $US1,500 in the next six months as investors wait out the turmoil in financial markets .

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If this comes true you will be glad you own Gold and Silver!

Read on to see why you should be happy you own gold and silver. "Sovereign wealth funds," are dumping the dollar. In particular one big fund in the Persian Gulf has cut its dollar-denominated holdings by more than 20% in the last year.

China's State Administration of Foreign Exchange [SAFE] is working  with European private-equity funds to diversify away from the dollar.

Foreigners also hold roughly $1.5 trillion in Fannie (FNM) and Freddie (FRE) AAA-rated debt. As Fannie and Freddie Mac come apart at the seams, Merrill Lynch has warned that the U.S. could possibly face a foreign "financing crisis" within months .

Almost everyone knows or has recently discovered that gold and silver are great to own during inflationary periods. How do gold and other precious metals compare to Google? Google has raised the price of its online advertising 19% in the past year and the industries paying the highest prices for this are the worst performing: mortgages and retail. Google raised mortgage-company advertising rates 35% and retail rates 9.3%. Bloomberg expects Google shares to rise 25%. "

All of this has gotten my attention, and I would be rushing to accumulate gold and silver if I hadn't done so already.  Any corrections that might occur in the gold and silver markets this summer is another chance to buy the exchange-traded funds for gold and silver .

"Russian and Saudi Arabian oil production have peaked – leaving the world with no way to meet our rapidly growing demand for energy. Oil prices must surpass $240 a barrel in the next few years in order to avoid severe shortages. Commodity prices, already at record highs, are poised to make their greatest gains in history over the next five years .
Inflation will climb as high as 25%-30% annually, destroying the value of most people's savings and crushing their retirement dreams. 95% of Americans will experience a lower standard of living within the next 10 years," asserts Stephen Leeb of The Complete Investor.

Dr. Leeb has a lot of credibility and his research team works hard to be accurate. If they are correct or anywhere close to correct, gold and silver prices are going to soar. The same is true for copper and most likely platinum and paladium. Precious metals tend to do very well when energy and commodity prices are "already at record highs, [and] are poised to make their greatest gains in history over the next five years" !

Right now gold seems high at around $957 and silver also seems high at over $18 an ounce. But there are bus loads of seasoned analysts and respected precious metals "bugs" who are saying gold could go to $3,000 and silver might go over $50 an ounce .

While everything else seems to be constantly changing you can count on Cash4Gold.com to always give you the best price for your unwanted gold and gold scrap. Our refiners work hard to always be able to give you the best price available!

Gold dips as dollar steadies

Gold dropped a bit lower on Wednesday while the dollar steadied, lightly denting gold's universal appeal as a currency hedge. Gold fell to $972.40/973.40 an ounce from $975.90/977.90 an ounce late in New York. The increase in accumulating and buying of gold to be an alternative to the more unsteady and risky assets like stocks and the weak dollar has helped to raise gold to a four-month high of $987.75 on Tuesday. A recovery in the US currency early on Wednesday however, has slowed gold buying and is helping to keep a lid on fresh gains.

Among other precious metals, spot silver tracked gold higher to $18.84/18.89 an ounce from $18.86/18.93 late in New York. Platinum fell before pulling back to trade at $1,971.00/1,991.00 late in New York. The white metal has fallen by nearly five percent in the last month. Spot palladium fell to $439.00/447.00 an ounce from $440.00/448.00 late in New York.

Cash4Gold always pays you the best price for your gold and precious metals. Visit us to see how much we are paying right now for your gold, gold scrap, silver jewelry, gold jewelry and more! 

Gold likely to see short term pressure

Gold's stability has been rocked sending it on a roller coaster ride last week. Gold hit the $1,000-an-ounce mark, before running out of momentum and closing lower than the previous week. Gold closed at $955.40 an ounce down from last week’s $960.60. The technical indicators look to $955 as a crucial support and it will be an important feature to watch out as the market opens for the week on Monday. The emerging pictures for support of gold are not encouraging and everything but politics are cooling down in that region of the world.

Although the tension in Western Asia has now eased, geo-political fears were the ones to first drive gold up. Crude, which has been held accountable for the current bull run in gold has dropped off. This was based on the growing fears of declining economic growth in the US which would translate to a decrease in demand for crude products. As crude declined, fears of inflation receded and in turn, gold came under pressure. The Friday results from Citigroup not only propped up the dollar but also allowed that the financial crisis being felt across the globe was under control. JP Morgan will be releasing results this week to intense scrutiny. Their results can possibly further dictate how the dollar will fare and in turn show gold's future course.

At Cash4Gold.com we will always pay you the highest price for your gold. Simply check our website to see what we will pay you for your unwanted gold scrap and broken gold jewelry. 

EMOTIONAL GOLD

The headline grabber of the last several months has, of course, been gold. There is not much about gold that hasn't already been said or blogged and yet, it has risen 55% over the past year. Gold has reached the highest price ever of over $1000 per troy ounce before it settled at, a still more than respectable, $900. The gold bugs - the "end of the Worlders" are happy but are their doom and gloom predictions justified?

Bob McKee, chief economist at Independent Strategy, doesn't think so. He started getting long gold between $330 and $350 in 2003, citing three drivers that are clear to all: the current account deficit's pressure on the dollar, growing political uncertainty and an impending reversal of the liquidity boom.

"Some people argued then that money flowing into Asian economies would be recycled into dollars," McKee says. "There's some truth to this, but there is also a growing pressure to diversify." "Up until three or four years ago, that was a real concern because the central banks still saw gold as a dead thing," he says. "But they have done their dumping, and have no more left to sell."

The other drivers have only gotten stronger, and the question now is whether they have become so strong that the market has already discounted them. McKee doesn't think so.

"We still have some room to go in all three drivers," he says. "Assuming that the U.S. economy went into recession this last quarter, and knowing that recessions tend to last nine to 12 months, we can expect dollar weakness to continue for at least the next two quarters."

Then, he says, just when the United States begins to pick up steam, the other OECD countries could be slipping into recession with low interest rates sparking fears of inflation.

We would like to know how you feel about gold prices and how our refiners help you get the very best price available for your gold and other precious metals. See what our other customers had to say about selling us their gold.  Visit www.cash4gold.com for more information about our company and all things gold!

ELECTRIC GRIDLOCK FOR GOLD

Gold's astronomic rise in price can be placed mainly on two factors: the sinking of the US dollar and a general fear of inflation and the instability of paper assets. Not too much attention has focused on the supply side of gold and silver, but more of platinum, palladium and plain old copper.

"In South Africa, the main power supplier, Eskom, has run out of reserve capacity, and this has caused rolling power cuts," Trickey says. "Many platinum and palladium mines had to close temporarily at the end of January, since power could not be guaranteed, and this posed a safety risk, especially for the underground mines." The result is that mines are operating at just 95% capacity, at a time when industrial demand, primarily in China, remains at full throttle. "They're able to operate on that, but companies are looking at ways to find individual power sources of their own," she says.

Palladium, thanks to these and other factors, rose from less than $200 per ounce in March 2003, to nearly $580 in February this year before settling down to its current mid-$400 range. Both platinum and palladium have vast industrial uses, they're quite pricey and can be substituted for each other. the short-term prognosis for platinum has most analysts at cross purposes. Platinum recently traded at up to $2,276 per ounce before settling down to its current range just below $2,000.

Palladium on the other hand has a strong following mainly due to the paradox that, as with platinum, most of the factors that can make demand for the metal go down actually make it go up. In other words, the factors that hurt demand for palladium as an industrial metal actually help it as a precious metal, and vice versa - at least, that's the perception. A global deflationary trend would, in reality, drag down the price of both precious and industrial metals.

You can always be sure that the price we pay you for your silver, gold and platinum will be higher than anyone else. We are the refiners and that enable us to always pay our customers more than market value!  Visit www.cash4gold.com for more information...

Precious metals popping up all over

Gold has raced up in price more than 50% in the last year. Other precious metals have gone along for the ride including platinum and palladium. So, is this the end of fiat currency as we know it, as gold bugs have claimed? has the commodities bubble finally burst and will gold prices head back south? What are the forces jostling the global metals markets?

Boris Schmitz-Thiersen's family has been selling jewelry in the same location in Cologne, Germany, for more than 100 years. He has begun offering bracelets made of a peculiar white metal mined in South Africa. "It's pure palladium," he explains. "Pretty, isn't it?" Yes - and relatively cheap, trading around $450 per troy ounce, compared to just under $2,000 for the same amount of platinum, and about $1,000 for gold. Silver, by contrast, is trading at between $17 and $18 per ounce.

The decision to sell palladium instead of platinum is one of those innocent ideas that if adopted by all the jewelry stores in the universe, could have major ramifications for the price of these two most precious of metals. Jewelry currently accounts for about 20% of total platinum demand, but that, unlike gold, platinum and palladium are primarily industrial metals and not stores of value.

"If prices of platinum get too high, you could see a substitution on the industrial side to palladium," she says. "This is why I'm more bullish on palladium than I am on platinum."

Yet it is platinum's secondary function as a precious metal that is driving prices to the stratosphere.

At Cash4Gold we don't just buy your gold scrap, unused gold jewelry and gold coins. We also buy platinum, silver and other precious metals. Visit our website today to see what precious metals we can buy from you!  Visit www.cash4gold.com for more information!

AMEX Gold BUGS Index

There are two major gold indices that dominate the gold market. These are the Philadelphia Stock Exchange's XAU and the AMEX's Gold BUGS Index.

The major difference between the two is that the BUGS index is comprised exclusively of mining stocks that will not hedge their gold positions more than a year-and-a-half into the future. This practice of unhedging their gold futures makes the BUGS Index much more profitable than the XAU as long as gold prices are rising. When gold prices are dropping however, losses are compounded. BUGS is an acronym for B asket of Unhedged Gold Stocks. The index was introduced on March 15, 1996 with a starting value of 200 .

The most positive characteristic of the BUGS index is that when gold prices are on the rise, the Gold BUGS Index is an excellent way for investors to capitalize on that increase. The index has a high correlation to the current market price of gold. The drawback of the BUGS comes when the price of gold declines. The unhedged Gold BUGS Index falls much faster than its hedged cousin, the XAU. Another issue is that the gold BUGS has an unusual index weighting system can be difficult to understand .

The composition of AMEX Gold BUGS Index is made up of 15 of the nation's largest “unhedged” gold mining stocks . It is a “modified equal-dollar weighted” index. The result is that most of the index's component stocks are equally weighted. Despite the equality the largest stocks still carry a greater weight than the smallest .

At Cash4Gold.com we will always pay you the highest price for your gold. Simply check our website to see what we will pay you for your unwanted gold scrap and broken gold jewelry.