Cash For Gold Smashes Records...

The Motley Fool website reported last week that “Gold Buyers Smash Records!”

Although spot price of gold has fallen 20% from the March 2008 high, demand is still up. Mints have been running at full capacity and ETFs are hunting for physical gold to back up investment demand. The World Gold Council released the following facts:

• Gold demand in Q3 was at $32 billion, beating the 2nd quarter by 45%.
• Investment demand, including ETFs, rose to $10.7 billion – double earlier demand in the year.
• Retail investment rose 121% in Swiss German and U.S. markets.
• France became a net investor in gold for the first time since the early 1980s.
• Demand for gold jewelry hit a record of $18 billion, led by India, the largest consumer of gold in the world.
• Supply has fallen 9.7% than earlier in the year.

The article also predicts that gold will preserve buying power as the dollar and euro face price inflation…..Also pay attention to the mining companies themselves – their shares are sure to rise…..

Read the article in its entirety here.

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Selling Gold at $2,000 an Ounce?

According to a press release from Cantos Communication, London is calling gold at $2,000 an ounce a “realistic possibility” in 2009.

Citing that “despite its recent weakening, the prospects of gold reaching $2,000 an ounce next year has to be considered a realistic possibility”. The information comes directly from James Turk, the Founder and Chairman of GoldMoney.

Turk was interviewed, via video, and has claimed that the doubling of the current value of the metal is highly likely as investors look for ‘safe haven status’ for their investments among the under-performing market. Demand among retail investors has been significant over the past year as hedge funds and other investors have been forced to sell gold and others are looking to buy. However, government intervention makes many nervous about the status of gold.

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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.

Christmas Cash for Gold?

The Salvation Army is hoping for extra generosity on part of its donors this year.

In the past, the Salvation Army has received valuable gold coins in its kettles as donations from generous citizens. With this year’s economy, it is questionable whether this generosity will continue. “It sparks attention and piques interest: ‘When are the gold coins going to show up?”, says a spokesman for the Salvation Army.

In the past, donors have dropped gold coins including American Buffalo, American Eagle and South African Krugerrands into the kettles. With each of these gold bullion coins worth around $1000 a piece, the Salvation Army claims that people know the value, they are just trying to help a good cause.

The Salvation Army sells the gold and dedicates 86 cents from every dollar to community programs that aid the needy.

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Cash4Gold - How Does COMEX Operate?

Barclays Global Investors (BGI) announced last week that it would be transferring shares from the NYSEAlternext US LLC to the NYSE Arcalisting and trading platform on December 4, 2008. BGI serves as the trustee for COMEX Gold Trust.

Barclays, as trustee for COMEX Gold trust, is one of the world’s largest institutional asset managers. The shares of COMEX, which come in units called “baskets”, are created to reflect the market price of gold, although at any given time, the shares may be slightly higher or lower than the current market price of gold.

Declines in the gold price can come from a couple of different factors:
(1) Large sales of holdings. There are instances where governments, banks, and other financial institutions are forced to sell off physical gold.
(2) Change in the level of hedge activity.
(3) Significant change in speculators or investors of gold

The Gold Trust works as a passive investment vehicle, meaning there are certain circumstances where gold might be physically lost or damaged, and the trust is unable to recover the loss. Shares of COMEX are not insured by FDIC, insurers or government agency and are treated like investments on the stock market.

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Old Gold Bookmark Discovered - Stolen, But Worth Cash

Reuters announced this week that a historical gold bookmark used by Hitler was recovered after being stolen.

The bookmark, made of 18 karat gold, was given to Hitler by Eva Braun, his mistress. It is estimated that the gold piece was a present from Braun after Hitler lost the Battle of Stalingrad in 1943. The gold bookmark is believed to have belonged to an executed armed forces chief prior to being acquired by Braun. The bookmark has a message from Braun to Hitler that is translated as “My Adolf, don’t worry…only an inconvenience that will not break your certainty of victory. My love for you will be eternal”

The gold bookmark was recovered in a sting operation by the US Justice Department after receiving information that someone was trying to sell the bookmark. The bookmark was stolen from a Spanish auction house in 2002 before it was to be sold. The thief faces up to 10 years in prison and up to a $250,000 fine.

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New Gold Rush Works Worth Cash

The Mercury News reported this week that a new collection of artwork with significant, American historical value has emerged.

The artwork of Charles B. Gillespie, a 49er, has been uncovered through a distant relative of Gillespie. Gillespie, an untrained artist that never sold a work in his lifetime, painted a number of sketches and oil paintings that were representative of the California Gold Rush. The collection includes over 119 pen and ink sketches and five oil paintings. Many of the pieces portray the 1848 discovery of gold by James Marshall at Sutter’s Mill, which launched the Gold Rush. Gillespie met James Marshall while sketching. One of the initial sketches bears the signature of Marshall.

Gillespie died in 1907 after working as a physician. The President of Holabird Kagin Americana, Fred Holabird, claims that Gillespie’s artwork is “one of the most important Gold Rush archives to surface in the last 100 years”. The number of pieces in the collection is significant and its worth is estimated at over half a million dollars.

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