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.

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/

Current Gold Price June 2011

It is now June 8^th, 2011, and the record breaking price of gold is still higher than ever. Just last year the Cash4Gold blog reported a record high price for gold at $1,277.50 an ounce, which at the time was a price tag that many analysts did not dream possible. Since then, the price of gold has been rising dramatically, and today even after seeing a small drop (less than 1%) it still stands at an astonishing $1,536.82 USD increasing over 24.06% since we reported last year.

Over the course of the last five years, gold has seen an increase of almost 150%...increasing by as much as $925.77. GoldPrice.org, a leading website in fast loading gold pricing data provides the following chart on the performance and change of the price of gold over the years:

So what does this data mean to you? The fact that the price of gold has continued to rise of the past five years to record breaking prices signifies that this is the best time in history to sell unwanted or unused gold. At times we may find ourselves in stressful situations were money income is needed quickly. Even scrap gold that may no longer be of use to the owner may still hold plenty of value, especially in these times of record breaking gold prices. So if you own gold that is unwanted or is constantly unused, now more than ever, is the perfect time to get the best price for your gold.

As the company who created the gold mail-in industry, Cash4Gold is and always has been the easiest way to send in your gold for real cash. With free and insured Jewelry Return Packs sending in your unused or unwanted gold is now as simple as checking the mail.

Capitalize on the high price of gold today and visit www.cash4gold.com.

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.

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 - 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.

Get REAL cash for your gold today! Visit Cash4Gold.com to view information about the types of gold that we accept, and the amount of cash we will pay you! Our process is insured and secures your anonymity! Visit us at Cash4Gold today!

Gold Prices Up - Cash4Gold Report

Gold prices have been pretty volatile for the past few weeks as the economy’s downward spiral has made investors nervous. However, today, November 7th, we have seen gold futures on the rise. The U.S. dollar fell against the euro and the pound and gold’s appeal strengthened as a hedge against inflation.

Marketwatch reported that gold for December rose $5 an ounce to $737.20 an ounce in early trading.

As gold prices continue to rise, check out how much cash you can get for your gold at Cash4Gold. We’ve decided to start sharing our customer reviews with the readers of our blog. Check out this review below:

Dear Cash4Gold.com
I saw your ad on TV about redeeming cash for old gold such as coins, rings, necklaces, dental, and other precious metals. I called and received my free information in as little as three days. The package came with all the instructions, which were simple, quick and easy. I packed all my items in the easy and secured pouch and returned it to you. I was glad to understand that it was insured against loss or damage. The transaction was smooth and quick. I received my check within three days. I was totally satisfied with the results.
- Gordon
Meansville, GA

We guarantee 100% satisfaction at Cash4Gold! Visit our website today at www.cash4gold.com to see the prices we pay for your old or broken jewelry!

Gold to Go Down and Back UP - Get Cash4Gold

It was reported last week that gold prices have climbed in New York.

According to Bloomberg, last week gold climbed as other equities tanked internationally. Even though the precious metal silver has fallen, gold is still being sought as a safe-haven with the financial crisis.

U.S. Treasuries were up due to investors flocking to government securities due to the worldwide fallout from the market.

Even though gold has experienced a 17% drop in October, the largest drop since March of 1980, both gold and silver are being predicted as “bearish” by analysts internationally. Silver prices fell 2.2% to $9.295 an ounce last week. Additionally, the euro, last week reached a 2-year low of $1.2497. This is following the record-high of $1.6038 July 15th. As a result, gold is expected to do well as global demand has been reduced on most commodities and raw materials. The majority of global gold refiners are operating at full capacity.

Analysts warn investors to be patient with gold investments. It is predicted that gold may trade down to $600 an ounce before increasing in order to adjust for the value of the dollar.

Get the BEST price for your old or broken gold jewelry. Visit Cash4Gold to see information about our process, the prices we pay, and how to sell your gold and get the most Cash4Gold! Go to www.cash4gold.com for more information

Selling Gold Profitable Means For Cash

CNN reported this week about how jewelers are profiting from customers selling gold….

Citing All That Glitters Jewelry and Loans in Portland, Oregon where people are more than willing to sell their heirlooms and gold for cash.
The shop owner has said that at one point in time, people were far more unwilling to part with their belongings. Now, customers are hocking their old gold and jewelry to pay their bills.

Many Americans are willing to sell gold to survive in the struggling economy. As a result, online sites, like Cash4Gold are booming. Cash4Gold is paying top dollar as gold prices increase amidst the global credit crisis.

Due to the economic situation, precious metal values are encouraging. Most jewelers buying gold have seen business up by 25%

Deal directly with the refiner and get more Cash4Gold! Visit our website at www.cash4gold.com for more information and to see the prices we pay for your gold!

Soaring Gold Prices Lead to Energy Consolidation: Barrick Gold to Pay Cash For Cadence

Late last week, Bloomberg’s Rob Delaney reported that Barrick Gold, the largest producer of gold in the world, has put in a higher offer to buy Cadence Energy Ltd.

Cadence, an energy and oil company based in Toronto, Canada, would provide Barrick with oil, allowing the company to save about 25% in related costs.

The offer from Barrick has been raised to $410 million in cash, which breaks down to $6.75 per share of Cadence stock. The original offer was for $6 per share.

The updated offer comes on the news that Daylight Resources Trust, another Canadian firm, had put in competing bids for Cadence. Daylight Resources still has the opportunity to match the Barrick offer.

As a result of the bidding war, Cadence’s stock rose to $6.76 a share on July 17th.

As gold companies deal with rising oil costs, they are taking advantage of the high pay-out costs for gold and are attempting to re-route those profits to save into other energy initiatives.

Are you keeping up with current gold prices? Check out our website at www.cash4gold.com to see the premium prices we pay for your old gold jewelry!