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All Posts Term: gold
3 post(s) found

Gold Futures Prices On The Rise

Gold Futures Prices On The Rise

Men have always been willing to go for broke to get their hands on gold and silver. In many cases it didn't come easy. For others, being in the right place at the right time paid off.

There have been many times that the word got out of a gold strike and families packed up and headed across country to find their fortunes as gold futures prices skyrocketed.

This time line takes you through the history of many such times. The eras of miners risking it all to get gold. After everything they did to get there, no matter how minute the amount, it was all they had to hold on to.

All the World's Gold

Did you know that all of the gold in the world has a value of 8.5 trillion dollars? This precious metal is one of the most sought after in the entire world, but there are some 165,000 metric tons of it available on this planet.

With about 7 billion people on the planet, there is less than one ounce of gold per person available. That being said, gold production has increased by 210% from 1959 to 2010. In that same period of time human population increased by 220%. Thus, we are just barely outpacing the amount of gold available, and this means that the less than one ounce figure remains true.

Nearly 52% of the gold in the world is used in jewelry while 34% remains in holdings and investments. Only 12% gets used for industrial purposes. We obviously value wearing and trading gold far more than we value actually using it.

Gold is Still Rising, Passes 1300

Gold is Still Rising, Passes 1300

Gold is still a buy according to Frank Holmes, CEO of US Global Investors, today. He notes that Gold and Silver are lagging other commodities when adjusting their 1980 prices for inflation. This is even with the incredible run Gold has had over the past two years, hitting a new high today. He prices Gold at $2,300 an ounce if properly adjusted to inflation.He feels that Gold could double over the next 5 years. Sounds like the opinion of many analyst at the end of the Dot Com Bubble right before the bubble burst.

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