Price of Gold $1600 - New Record

The Cash 4 Gold blog recently reported a high price of gold last week, and hinted with a prediction of a new gold price record that would break the $1500’s gold price range. Today, that estimate has become fact, as gold has officially reached a new record, with, for the first time in history, a breaking price of $1606.16.

Just a week ago, the price of gold had peaked at $1590.52 with many financial experts predicting the price would continue to upwards. The Chart above shows the growth of the price of gold over time. In just six months, gold’s value rose $221.70.

Owners, speculators, and investors of gold are now looking to the obvious first question since the peak of gold prices. “What are the reasons for the increasing price of gold?” Demand for gold plays a large roll in its price, and countries like China and India have become more and more involved in the big picture of gold over the recent years. China recently became the number one gold consumer in the world, and India continues to demand gold at high levels.

“The World Gold Council (WGC) estimates that jewellery and investment demand from these Asian countries represented about 40 per cent of total global demand in 2010, and that demand from India is expected to grow overtime.”

With an increase in demand and the ever changing world economic markets, gold has now set a new record price and promises to maintain its wealth and rarity over time. With the price of gold now over $1600, there has never been a better time to sell unwanted or unused scrap gold for the best possible price. Visit www.Cash4Gold.com to find out how you can get real cash for your unwanted or unused gold.

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/

The Rise of Gold- 2,200% increase in Gold Prices in 77 years

The price of gold is a fluctuating scale that bounces from place to place with little to no prediction on where it will be next. Though there has been much advancement in prediction strategies and planning for the price of gold in investments, no one person or market has been able to truly predict the price of day to day gold. However, there is one thing that remains constant in the changing price of gold, and it remains the single most trusted source in the race against gold value: the average increase of gold over time.

In 1934, the price of gold was $35 per ounce. This meant that a gold nugget weighing in at 10 ounces would fetch you only $350 dollars and even less than that before 1934 where the price of gold was shocking less at $20.67 where it had remained for decades. If you took that same gold nugget into the market today it would fetch you a nifty $15,000…calling that a simple “improvement” would be an incredible understatement.

The price of gold has not only flown through the roof since the 1930s, it has ripped through the clouds and is currently sky bound with the most recent price of gold at $1506 an ounce. From 1934’s price of $35 to today’s $1500 mark, the price of gold has increased 2,200%. But how did the price of gold jump to such high values in less than a century when before the 1930’s it had remained at such a steady level? The answer is in the hands of the people.

Demand is the number one source for the increased value of all things economic, and in the case of gold the power of demand is no different. After a long period in history including precious gold mining and the passing of the Gold Reserve Act on 30 January 1934(the measure nationalized all gold by ordering the Federal Reserve banks to turn over their supply to the U.S. Treasury), the already rare precious mineral started to become even scarcer, and the demand for gold sky rocketed.

Demand for gold continues to grow like wildfire in 2011 as China has shown by recently becoming the world’s largest gold consumer when the country purchased over 90 tonnnes of gold in just the first quarter of the year. If history has shown us anything with gold’s value, it is that with growing demand comes growing price, and the price of gold is due to hit new record levels before the end of the year.


Sources: http://online.wsj.com/community/groups/oil-921/topics/markets-gold-prices-rose-2200

Price of Gold- June 28, 2011

With the June finally closing, the month marks a long period of gold prices at all time highs. Today, June 28, 2011 the current market price of gold remains above its famed $1500 selling price at exactly $1500.13. With many economic ups and downs currently circulating around the globe, international markets are attempting to work together to maintain financial stability in the face of rising gold prices. Although markets have been on slide, gold continues to rise in value and the $1500 dollar gold price floor seems to be a confident price location for gold investors and owners to rely on.

So what does this high floor price mean for gold owners everywhere? The high price of gold means that there has never been a better time to sell your gold for real cash. Cash4Gold.com offers free and easy Jewelry Return Packs where you can get real cash for your gold. If you have scrap, unused, or unwanted gold, there has never been a better time to get real cash for it. Visit www.cash4gold.com now to order your Jewelry Return Pack today.

BOFA makes Bold Statement on Gold Future

Photo: Price of Gold rose over $900 dollars since 2007

BOFA(Bank of America) is making headlines all over the gold news community with its recent bold statement on the future pricing of gold. In a recent statement Bank of America predicted that the price of gold would rise up to $2000 dollars per ounce, but would maintain its position in the area from $1500-$2000 per ounce. With BOFA’s prediction, the price of gold would sustain at this maximum level of $2000 for the next five years.

Reuters, one of the most respected publishers of breaking news in the Business and Financial markets both US and International, reports the following statement from BOFA:

"We look at supply and demand balances required to clear the gold market under three average price scenarios (i.e. $1,000/oz, $1,500/oz and $2,000/oz over the coming five years)."

Whether or not the price of gold will stay under $2000 an ounce during a five year time limit is surely up to debate, however gold owners and investors can be fairly confident that the price of gold will at the very least reach the $2000 dollar floor by 2015. From 2010 to 2011 gold saw a jump of $300 dollars that put gold into the record breaking price of $1500+ an ounce. Over the past 5 years, goldprice.org reports that gold has already jumped $962 an ounce. If history is to repeat itself, the price of gold may surprise BOFA, gold investors, and private gold owners, rising to new record breaking levels.

Sources and Photos: http://www.reuters.com/article/2011/06/21/gold-research-bofamerill-idUSL3E7HL1DO20110621 http://www.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/

Three Most Frequently Asked Questions about Gold

Image: The Mojave Nugget- 156 troy ounce nugget, the largest ever found in California.

With gold today returning to the positive growth lines (currently at 1, 543.75 as of 11:30am today, up 0.08% as of just yesterday), now is a better time than ever before to visit three of the most frequently asked questions about gold.

Question 1- Where does gold come from?

The question “where does gold come from?” contains various historical and scientific explanations. To make things simple, gold comes from the very ground you stand on. It is a metal, and although very precious, it comes from the same place all metals come from: on parts of ground, mountain bodies, in grains of rock, and even in other compounds such as Tellurium. Gold can be possibly be anywhere, and yet, what makes it so special, is that regardless of its possible abundance gold is the rarest metal on earth. Why is Gold so rare? The rarity of gold comes from its importance to people, and the fact that it has been valued since the Copper Age…7,500 years ago. For over seven thousand years, humans have been searching and excavating gold. The World Gold Council estimates that 165,000 tonnes of gold have been mined since the dawn of human-gold relations up until 2009.

Question 2- What is gold used for?

Gold is famously known and recognized worldwide for its use in jewelry and luxurious items. Because of gold’s synonymous nature with wealth, it is easy for objects of luxury to be first on the list when thinking about gold use. But jewelry isn’t the only item gold is present in. In being not only one of the rarest metals, but also one of the strongest, gold is also known for resisting attacks by acids and is also the most malleable and ductile metal known on earth. These properties of gold make the precious metal a perfect choice for practical uses in dentistry products, electronics, and other fields. Gold is considered by many as the most powerful and trustworthy investment, but is also used in medicine, chemical industries, and even in food!

Question 3- How much is gold worth?

As of today, the price of gold is currently worth $1, 543.75. The price of gold is one of the busiest markets around, and is always changing. Just five years ago, this price was almost a thousand dollars less counting in at around $600. The price of gold has continued to rise over the years, maintaining a strong position even through economic hardships. So what does this mean for the average gold consumer? It means that gold is at a record high, and now is the best time to get the most money for your gold. Scrap gold and broken or unwanted jewelry spend years collecting dust and being neglected. However, even scrap gold contains bits of the precious metal, and should never go to waste. If you have any unwanted, unused, or broken gold, now is the time to get real cash for it and put the value back in those items. Cash4Gold, is not only a leader in the gold mail-in industry, the company created it. Visit www.cash4gold.com and order your free Jewelry Return Pack, where Cash4Gold covers shipping, insures your gold, and delivers you the easiest way to simply mail in your unwanted or unused gold for real usable cash.

Image source: http://cs.astronomy.com/asycs/media/p/463617.aspx

Gold - Better Cash Than The Dollar?

This week, Amateur Economics wrote a blog entry this week about our favorite topic – Gold! The blog compares the continual decline of the dollar in conjunction with the cost of gold.

According to AE, the dollar has lost 81% of value since 1971. Measured against gold, the dollar has lost 95% of value.

Until August 15, 1971, a US dollar represented backing of 1/35 ounce of gold. By 1973, following the Nixon administration, the dollar’s value had sunk to 1/64 of an ounce of gold.

The blog asks the question in today’s shaky economic situation, “Can gold lose dollar value even as the dollar itself loses purchasing poser?”. AE says yes, and that we have the Fed to thank for this – due to the stock market bubble bursting followed by the collapse of the real estate market. As a result of all of this economic meltdown, gold and the dollar could “simultaneously weaken”.

Consumers have flooded to gold as economic uncertainty has increased. The last peak of gold was on March 17 for $1,011 an ounce. The ‘lows’ recently have reached about $835 and could possibly go lower, however economists believe that we have not seen the peak of gold as measured against its 1981 price adjusted for inflation.

AE goes on to describe that the two factors that help the price of gold are (1) inflation and (2) war. To read the entire article, click here.

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.