Gold at $700.40


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Well its a good thing, and a bad thing, it translates into higher prices on electronic Items, as all the contacts and chip have gold in them. Now I guess detectors and such will be going up. I need more nuggets that all there is to it. Nugget patch here I come SAT. Grubstake

That should say $700.40

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Hello Grubstake,

I changed the title of the post to $700.40 per ounce rather than $77.40 per ounce. :D

Here is a section I copy/pasted from the www.msn.com website about the all-time high of gold.

The price of gold topped $700 an ounce today for the first time since the fall of 1980 as investors worried about rising tensions between the United States and Iran and the possibility of rising inflation.

Gold closed up $23.50 or 3.5% to $701.50 an ounce in New York. Copper and platinum prices also set records, and silver wasn't far behind.

The big price gains came a day before the Federal Reserve is expected to raise short-term interest rates.

Gold's big move helped keep stocks mostly in check. But the Dow Jones industrials moved up 55 points, 0.5%, to 11,639.77. The move puts the blue chip average within 80 points of its all-time high reached in January 2000. But the broader Standard & Poor's 500 index was flat on the day at 1,325, and the Nasdaq Composite was down seven points at 2,338.

Gold's rally was set off after U.S. Secretary of State Condeleezza Rice said the Bush Administration found nothing to discuss in a letter from Iranian president Mahmoud Ahmadinejad. The issue, she said, was Iran wasn't discussing dismantling its nuclear research program.

Continued high tensions with Iran mean the dollar will stay under pressure. A weakening dollar typically encourages investors to instead turn to gold, considered a safer alternative to the U.S. currency.

"People are concentrating, of course, on gold," Philip Gotthelf, president and commodities analyst at Equidex, told CNBC's "Morning Call." "But if you look at platinum making all-time highs, copper making virtually hysterical highs, the price of oil high, tension in the Middle East, all of these things weigh heavily on the minds of investors.

Just makes you wonder how much higher it can go. I honestly didn't think it would hit $700, but now I'm thinking $800 - $850 could be right around the corner.

More nuts, more bogus mineral claiming, but more detector sales! :rolleyes:

Take care,

Rob Allison

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yep, thanks for fixing that Rob. I think your going to $1000.00 oz gold by Christmas, my opion, but thats what I think. From the talk today, get ready to see a war with Iran. We need the Draft again, give the druggies and gang bangs some military training,send them in. They can shoot each out after the kill a few if the Iranians. Grubstake

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Hello Guys,

Besides the increased detector & accessories sales, I kind of liked when gold was $300/ounce. There were very few people interested in chasing gold, most that were in the hills enjoy the real passion behind electronic prospecting, not the money value that many are seeking now.

When gold was around $300/ounce no one had interests in mineral claims, less nuts in the field and more gold to be found! :P

P.S. Maybe I should be pushing Long Ranged Locators and Dowsing Rods with the price of gold at an all-time high. :rolleyes:

Just my take,

Rob Allison

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Well I think the detector dealers will sell a boat load of detectors this year, I have people up here ask me today what kind and how much are they. They kind of let there jaw drop, when they here the price of a new minelab, but if you going to hunt, you should start with the best. Its funny to me, people up here that know I detect,and what I'm finding, say hey take me to that place. I told one guy this morning, I said do you have a detector, he said no, I said how are you going to detect? He looked at me and said I thought you could detect do the digging and we could go with you and share the gold, He said its just laying on the ground aint it? Sure, it is some times, But why walk up the hill, let me save you the trouble, I could just let you browse in my safe. Yep you bet. Grubstake

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Grubstake,

Well it was 100 on my back patio today. So I guess its here. But I love to hunt even when its 105 to 110. You don't see many people out in temps. like that.

Gary, thats kind of like someone riding to the bank with you to cash your payroll check and then they want part of for keeping you company.

Hey Rob,

Man you got a good business going.

You don't want to stoop to the snake oil level. I have had some experience with the rods or long range locators as they are called. Also the MFD's.

Or if you have a lot of time to kill, get yourself a set of rods, take me to one of your favorite patches. [Mine don't have as much gold as yours, so we want to make sure that there is something to find] I will take my 3500 w/the 14" coiltec mono, and we will do a comparison test. And as always, each will keep the gold that he finds. :rolleyes::o

Bob T.

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Hello Bob & Grubstake,

I would never ... ever think about dealing in Long Range Locators or Dowsing Rods. I'm not convinced either of them are worth a shit. I've seen guys over the year try to convince me that they can Map Dowse or Dowse for Minerals, but have yet to see one even find a coin that I hid. :o

Funny, I had one guy tell me on the forums he was a "True" map dowser and if I would send him a topo of a gold area he could dowse it, draw and locate potential spots and then send it back. Well I took him up, I send him a photocopy of a topo years back and then I received it back in the mail about two weeks later with a small note attached. The note mentioned the area was very barren in minerals and no placers would be found! :blink: However, when I sent him the topo there were no names that he could see to reconize the area, and what he didn't know if the fact the area produced at least $1,000,000 worth of placer gold! I guess he was wrong .... :P

I also had a guy tell me on a commercial operation here in Arizona how the dowsing rods were helping them locate pockets of gold. However, all the spots he showed me were undug? I asked him, "If the dowsing rods are so great, and you located pockets of gold, why are you digging in all the other spots?" I guess I asked the wrong question cause his tone got much stronger and he became red faced. :unsure:

Talk with you later,

Rob Allison

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Just let me know what the lottery numbers are for Saturday if anybody out there is psychic and I will split it with you. You get the ticket, and then I will pay you the half cost of the ticket when we go to collect our money. Oh, and use bent Copper wire instead of coathangers, works better. Some people up here swear that dowsing works. I tried to find a sewer line one time and the customer said "Here use these" bent wires, I said they were too skinny to probe the ground with, they said "No, you walk around and when they cross there will be the sewer line" But it doesn't work for me. I don't think it would hold up in court if you hit a gas line using them as the locator. :P

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Rob,acronn,Grub,

I'm a skeptical......I thought dowsing was a sham.Till one day someone showed me how to do it with bent copper wire.You cant be ill,sick or tired when doing this stuff.I had folks stash Cu,Ag&Au and 80% of the time I found it!That and also pipes and waterlines.It does work for some folks...but I wouldnt head up a gold bearing ravine with those rods...it would have to be a detector or dredge.The only thing worse thing other than not finding it....is losing it....when its already their.

BIGFOOT

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