Hitch up you wagon the gold rush is on in Elko, Nevada. But you are probably asking: "Are people actually going to Elko to mine for gold? Not really, but there are gold mines in the Northeastern mountains of Nevada and the mines there are thriving. With the price of gold at about $800.00 per ounce, mining companies are running at full capacity. Barrick Gold Corp (NYSE: ABX) has added 250 people and expects to hire an additional 300 jobs to its workforce of over 3500.
GoldRush posts
FeedHitch up your your wagon. The Nevada gold rush is on
Continue reading Hitch up your your wagon. The Nevada gold rush is on
Should we expect a short pull-back in gold before prices shoot to $1,000?
Earlier this month I took a look at gold prices, and said we could be looking at a modern day gold rush. Well, consultants over at GFMS Ltd. seem to agree, and are now predicting that $1,000 gold is on the way.I, for one, have no problem agreeing with GFMS, and believe that the only question is how fast will $1,000 gold be upon us. Right now we just seem to have the perfect set of economic conditions present that are needed to keep gold charging ahead.
The main factors that are at play are a weak dollar and high oil prices. Add on top of that the fact that the housing market has sparked widespread fear that a recession is on the horizon, and what you have as a result is a bunch of people looking for somewhere safe to keep their money, and you guessed it ... gold typically equals safety.
Continue reading Should we expect a short pull-back in gold before prices shoot to $1,000?
Comfort Zone Investing: The unmighty dollar
Five winners of a weak dollar
For a quick-read on the U.S. economy, check the price of gasoline
