Price Of Gold- July 14, 2011

The price of gold is nearing new records today as it currently stands at almost $1600 an ounce. Today’s price of gold is $1590.52 per ounce, a mere $10 dollars short from a price never before seen in the market for gold. The incre asing value of gold has continued to prove gold’s precious rarity and value over time.

The overall performance of gold continues to play well in the market and has proven to show steady growth. In the last 30 days alone, gold has shown a 4% (or $60 dollar) increase. If the trends in gold pricing continue to escalate, we may be saying a new world record sooner than we think.

The growing price of gold means that there has never been a better time to get the most money for your unused or unwanted scrap gold pieces. Don’t let scrap gold go to waste, get real cash for scrap gold and trade unwanted gold for cash with Cash4gold.com.

Charts provided by: http://goldprice.org/

Current Price of Gold- 1529.09, Price History

The price of gold today on June 16, 2011, is up to $1529.09 which brings an increase in its price performance of $45.80 dollars or 3.10%. Gold seems to be continuing its positive market trends that have been making headlines in gold and in investment communities for its record breaking performance this year.

But 2011 isn’t the only year gold has done well, and as a matter of fact gold has actually out preformed various other economic investments for many years, and is among the few products that continues to grow with confidence on a yearly basis. Here’s a look at a chart published by goldprice.org highlighting the changes in the price of gold since 1975. You will notice the giant and stable increase of gold since the 2000s, which have now continued to rise well into this year.

With this constant increase in the price of gold, it is safe to say that gold will continue to be a secure and promising way to establish financial security. People in the public sector who own gold jewelry or even scrap gold they no longer want or need, can make a large profit by selling their gold in today’s market. At Cash4gold.com, leader in the mail-in gold industry, owners of scrap, unwanted, or unused gold can send in their gold and receive real cash.

Sources: http://www.goldprice.org/

Price of Gold rises again; China becomes World’s Newest Largest Gold Consumer

It was only a few weeks ago that the Cash 4 Gold blog published two posts on the consumption of gold in India. A blog post was published on India’s Gold consumption and its holdings in gold investments which made it the largest consuming country of gold in the world. The Cash4Gold blog also covered the Akshaya Trihiya Gold Festival in India and one of its top priced items, the Shree Yantra. But now, a new country has recently taken the crown, becoming the new largest consumer of gold…

China has become the top consumer of gold, surpassing India in gold reserves and investments. The World Gold Council (WGC) reports that China’s total purchase of gold in the first quarter of the year comes to a total of 90.9 tons. India’s top gold holdings are now at 85.6 tons, falling for the first time into the number 2 spot behind china at a 2% decrease.

Though China has surpassed India in the being the largest consumer of gold, India still plays a vital role in gold consumption. Together, China and India accounted for almost half of all gold demand worldwide (estimated at 41%).

The surge of Chinese interest in gold has also played yet another role. The Price of gold has raised yet again thanks directly to new Chinese gold investments. Passing the $1,500 mark for the second time this year the price of gold rose to $1,501.50 per ounce.

Gold in Space

Gold is used for an incredibly large amount of technology because of its useful makeup. With reflectivity, conductivity, and corrosion resistance as key material makeup’s involved in gold, companies like NASA have been using gold as a key element in their space programs for years. As a matter of fact, gold has become invaluable in many of NASA’s projects in space, including protecting space astronauts themselves from deadly space rays.

“Reflective gold-coated plastic film protects essential equipment from intense solar radiation and heat. Similarly, a layer of gold on the astronauts’ helmets defends against lethal doses of radiation when working in space.”

Even the Hubble Space Telescope(pictured above), which is responsible for many of our solar images and understanding, is coated in gold. The World Gold Council states: “Gold coatings protect the $1.5 billion Hubble telescope against corrosion and electrical connections.” The reflectivity of gold protects the Hubble and is part of the reason why the telescope has been in orbit safely for over twenty years.

http://www.gold.org/technology/uses/space/

Akshaya Trihiya Gold Festival

India is the world’s largest consumer of gold. Every single year, the country imports over 700 tons of gold, as well as 3,000 tons of silver. Indians are in a frenzy for gold and silver purchases today during an important Hindu festival involving precious metals, called Akshaya Trihiya. The word Akshaya means “that which never diminishes”, because of the festival’s meaning, many people in India buy tons of gold and precious metal on this day with the belief that anything bought on this day will bring luck and also success. Now with the recent record breaking prices of gold, the Indian Festival is gearing up for what is predicted to be one of the highest selling years yet.

One of the bigger merchants of Indian gold during the festival is the Rudra center, which carries a tiny “Shree Yantra” gold coin only a single mm in thickness. The Shree Yantra may be me small, but at 22 karots, it fetches a price of 27,500 RS, or $650,000 US Dollars.

This is a great time for Indians to buy gold because of the high value of gold in the market. But not only is the Akshaya giving Indians a large access to gold at high value, but it is also keeping the value of gold worldwide at a high value. Even the NSE and BSE markets have extended gold trading for ETFs(exchange traded funds) in Gold for Akshaya.

It’s easy to see that the traditional Indian holiday has a huge impact on not only the people of India, but on gold itself and the value of gold worldwide.

More Edible Gold Foods

The Cash 4 Gold blog recently detailed a edible gold treat, the famous New York “Grand Golden Opulence Sundae” from the Serendipity store valued at $1,000 per ice cream. The famous sundae is made with luxurious Caribbean cocoa beans, exotic fruits, fresh passion fruits, and of course…gold. The sundae features a 24 karot gold leaf topping. However unique this sundae may be, it is not the only edible gold food. Did you know that gold is completely harmless to the human system when ingested and contains non-allergenic properties? Edible gold is more common than one might think, and it even has its own food additive characterization as E175.

Here’s a list of a few Edible gold treats:

Gold Sake:

Sake is a traditional wine from Japan. This wine can also be found in the form of “Gold Sake” which is enjoyed by the Japanese people on New Year ’s Eve. Drinking Gold Sake during the time of the New Year is said to bring prosperity and good luck for the coming year.

Glitz and Glitter Cocktail:

These cocktail drinks also originate from the city of New York, and are served at the Trump Tower World Bar. Golden flakes are a big part of this tasty drink, and can be enjoyed with no worry.

DeLafee’s Gold Chocolate:

And finally, what list could be complete without one of the most famous chocolates around? At the price of $504 dollars per 450 grams, the Swiss Delafee’s Gold Chocolate’s take the crown of tasty gold sweets. These chocolates are made with sugar, coconut oil coca butter, milk, vanilla, and 24 karot gold.

The $1,000 Gold Sundae

One of the most talked about deserts to come out of New York City is the famed Ice cream sundae “The Grand Golden Opulence Sundae” from the Serendipity store on 60^th street. This desert is a 24k edible gold leaf ice cream that will cost you $1,000 dollars to indulge in.

The sundae currently holds the Guiness Book World Record for most expensive sundae ever, and was created in celebration of Serendipity’s 50^th anniversary.

Here’s what’s inside the famed sundae:

“5 scoops of the richest Tahitian vanilla bean ice cream infused with Madagascar vanilla and covered in 23K edible gold leaf, the sundae is drizzled with the world's most expensive chocolate, Amedei Porceleana, and covered with chunks of rare Chuao chocolate, which is from cocoa beans harvested by the Caribbean Sea on Venezuela's coast. The masterpiece is suffused with exotic candied fruits from Paris, gold dragets, truffles and Marzipan Cherries. It is topped with a tiny glass bowl of Grand Passion Caviar, an exclusive dessert caviar, made of salt-free American Golden caviar, known for its sparkling golden color. It's sweetened and infused with fresh passion fruit, orange and Armagnac. The sundae is served in a baccarat Harcourt crystal goblet with an 18K gold spoon to partake in the indulgence served with a petite mother of pearl spoon and topped with a gilded sugar flower by Ron Ben-Israel.”

A Video of the Grand Golden opulence Sundae can be found here for those who just can’t believe without seeing: http://vimeo.com/14540013

Hopes for a "Modern Day" Gold Rush

In our last post, we talked about the most profitable gold rush in all of history, The Australian Gold Rush of 1851. But now, after the recent discovery of a $460,000 gold nugget in Nevada County, California, there are hopes for a newer “modern day” gold rush.

The trigger of new attention to the Nevada County was this gold nugget pictured above, weighing in at 8.2 pounds, it was sold for the 460k at a Sacramento auction. Reports say that the man who discovered the gold (who keeps anonymity to his name) did so using only a metal detector, and in his own backyard.

Since the discovery of the 460k gold nugget, more gold has been found in the old gold harvesting valley of Nevada County, and geologists as well as prospectors are convinced that there is still more gold to be found.

"And there's no question, obviously, that there's still gold out there in those hills," said Don Edgeman, the owner of a nearby store.’- http://www.wdam.com/story/14512726/geologist-search-for-gold-after-460k-nugget-was-found

With the value of gold continuing to rise and even reaching its highest record breaking price ever in recent weeks, what does the future hold for gold?