Forbes Predicts end of the year Gold price - $1600

This year, gold set a new record price when it jumped into the $1500 territory and it hasn’t looked back ever since. And now it seems like 2011 might be the year for gold record setting trends. An online article published by Kitco News to Forbes, the world’s leading business publication, has predicted that by the close of 2011, the price of gold will return to the record books for the second time this year at $1600.

“Gold should trade to just over $1,600 an ounce by the end of 2011 and silver should be flirting with $50 an ounce…”

Silver, another precious metal and close runner-up to gold, is also predicted to continue its growth, reaching the $50 dollar mark. The Forbes article mentions the rise in demand for all precious metals including Silver and its significance effect on price.

“Philip Newman (Speaker at the International Precious Metals Institute’s Precious Metals Conference) said investment demand continues to be important in silver and that drove prices up, so the lack thereof now also contributes to the weakness. He said at the same time there is a much stronger underlying demand for silver, principally from the industrial sector, a fact that is sometimes forgotten.”

If Forbes prediction is correct, then gold will continue to grow and selling gold will continue to show large profit gains for public owners of gold and gold investments.

Sources: http://blogs.forbes.com/kitconews/2011/06/14/gold-should-break-1600-silver-near-50-by-year-end-gfms-newman/

Utah Becomes First State to Legalize Gold and Silver as Legal Tender

Utah has become the first state to officially legalize Gold and Silver as Legal Tender. The goal of the Utah legislator is to see the dollar (which has taken destructive economic damage) regain its former importance, and rise once again to an acceptable value in the face of gold. Their strategy to repair the dollar is to bring gold and silver to its level, by introducing the precious metals as actual currency.

“The idea was spawned by Republican state Rep. Brad Galvez, who sponsored the bill largely to serve as a protest against Federal Reserve monetary policy. Galvez says Americans are losing faith in the dollar. If you're mad about government debt, ditch the cash. Spend your gold and silver,” he says.

His idea isn't to return to the gold standard, when the dollar was backed by gold instead of government goodwill. Instead, he just wanted to create options for consumers.

"We're too far down the road to go back to the gold standard," Galvez said. "This will move us toward an alternative currency."
The state of Utah has the potential to cause a gold and silver currency trend with the pass of its new tender law. What will the future hold for gold as currency? Will we see this adaptation spread throughout the country? Utah hopes so.

Source: http://www.zerohedge.com/article/china-prepares-launch-gold-etfs-utah-becomes-first-state-make-gold-and-silver-legal-tender

Olympic Gold - What's It Worth?

As the Olympics have ended, many have asked what metals make up the Olympic medals…..

Up until 1912, the Olympic Gold medals were made of solid gold. No longer the case.

The gold, silver and bronze medals are 2.5 inches wide and .12 inches thick.

Since 1912, the gold and silver medals awarded are actually made up of mostly silver. The gold medal is coated with approximately a quarter of an ounce of 24kt gold.

The bronze medal also contains trace amounts of silver, but is composed of mostly copper, zinc and tin.

The 2008 Beijing Olympic medals have an image of Nike, the goddess of victory, on its obverse, and the Beijing Olympic emblem – inlaid with jade - on the reverse.

According to current gold values, the Olympic gold medals have a worth of about $300…….

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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!