South African Gold Looking for Cash for Gold...

Bloomberg reported last week that the South African rand has seen a deficit widen to 7.9%.

South Africa relies on foreign purchases of its stocks and bonds, and this year has been among the worst since the Great Depression. The rand has lost 33% against the dollar and 24% against the euro in the past year.

The currency, at this time, is quite volatile and could weaken to 10.75 per dollar by the early part of next year. The government is expecting increased inflation as the country spends additional funds on road and energy infrastructure initiatives.

South Africa has been affected by gold and platinum prices, the largest exports of the country. South Africa produces about 80% of gold in the world and 10% of the world’s gold.

While prices have dropped slightly, demand for gold, silver and platinum has stayed the course……Get the most cash for your old gold, silver and platinum! Visit Cash4Gold.com to see about the prices we pay for your old scrap gold and to learn about our process! Sell your gold today at Cash4Gold.com!

Current Gold Prices Result in Mining in Panama...

It was announced this week, by Reuters, that a Panama City gold mine is due to begin production in the near future…..

Petaquilla Minerals Ltd, a Vancouver mining company, is projected to begin gold mining in Panama within the next few weeks. The company has announced that it expects to mine over 100,000 ounces of gold by the beginning of 2010, maintaining those levels until at least 2015.

As rising gold prices have begun to offer cash and stability to liquidity-challenged citizens around the world, this newest gold source should not come as a surprise. However, environmental concerns and complaints have delayed production since January 2008, but Petaquilla has been given permission by the Panamanian government to proceed with mining.

This will be the first major gold mining site in the country of Panama. Because current gold prices should continue to increase, the Panamanian government is now entertaining other proposals. Panama has a history, like many other Latin American countries, of being mineral-rich, but the environmental concerns related to the tropical climate are very relevant to citizens and those that have relocated to the country.

Gold prices are still at significant highs---Sell your gold today! Visit Cash4Gold.com to see about our process, the prices we pay, and how to maximize the amount of cash you can get for your scrap gold, old gold, or broken gold. Check us out at Cash4Gold to learn more about our company.

Cash4Gold - Lower Gold Production to Drive Gold Price Up?

It was reported last week that there is trouble with Zimbabwean Gold Mines that could affect worldwide supply levels.

The Zimbabwe central bank has taken delivery of gold – for up to two years - but has not paid the mines for the gold. Many mines are now unable to pay workers, due to back payments owed. Zimbabwe’s largest exports are gold and tobacco, and in the past, Zimbabwe was the 3rd largest African producer of gold.

Zimbabwe now faces an inflation rate of 231 million percent and cannot afford many necessities. Continued gold exploration has ceased, because of flooding and inadequate funds to repair the mines. It is predicted that Zimbabwe will only produce roughly half the amount of gold compared to last year.

When demand for gold goes up, so does the price! Check out the prices that we pay for your old or broken jewelry at Cash4Gold. Read one of our customer reviews below:

To Whom It May Concern:

I am writing to let you know that I loved using Cash4Gold. I received my kit and within a week and a half or so I received my settlement. I spoke with your manager Larry & without any hesitation he worked things out for the better. He was great as was your customer service. You made the whole process simple & easy. It is greatly appreciated! I will absolutely recommend your company to friends & family.

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Selling Gold at Highs: Mine Reopens

Bloomberg has reported that Harmony Gold has resumed work at Parts of the Elandsrand Mine following an accident that had taken place October 2nd that shut down the mine’s gold production.

Harmony Gold Mining Co is Africa’s third-largest gold producer in South Africa and the fifth largest gold producer in the world. The company, which is Incorporated in South Africa, has operations in South Africa, Australia, and Papua New Guinea

Harmony Gold was founded and incorporated on August 25, 1950 through Rand Mines and was originally a single, lease-bound mining operation that was connected to Randgold. In 1997, Harmony Gold was listed independently on the JSE Limited. Harmony Gold is now an independent gold producer from Randgold.

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