That's easy to answer, it's one of the more important metals that we prospectors look for? It's part of the prospectors dream and we always try to chase it out of where it hides. We all know that gold is valuable and important, but sometimes we need a little reminder of just how great a metal Gold really is.
Here are some interesting facts about Gold.
The properties and uses of the metal gold.
Chemical symbol: Au
Atomic number: 79
Atomic weight: 196.967
Specific gravity: 19.3 (Twice as heavy as lead; 1 cubic foot weighs over half a
ton.)
Hardness: 2.5 to 3 on the Mohs hardness scale
Tensile strength: 19,000 pounds per square inch
Melting point: 1,945oF
Boiling point: 5,378oF
- Face centered-cubic crystalline structure.
- Most malleable and ductile of all metals.
- Inert, therefore does not corrode. (Referred to as a noble metal.)
- Good conductor of electricity.
- One ounce of gold can be stretched into a wire more than 40 miles long.
- Gold can be worked into a layer measuring 1 millionth of an inch.
- There are certain produced acid and alkaline compounds that will dissolve gold; the best known is aqua-regia, a potent combination of hydrochloric and nitric acids.
Gold is one of the earliest metals known and used by humans. It resists corrosion and chemical interaction. It will not disintegrate when exposed to oxygen, water, salt, or any other naturally-occurring material. Gold’s durability accounts for the almost perfect condition of coins and artifacts fashioned from it thousands of years ago.
Gold is used for investment purposes and jewelry however it's most important uses are in computers, weaponry and aerospace. It is used where consistent, reliable performance under all conditions is essential. The electronics industry has tried to find substitute metals and alloys, but gold’s exceptional resistance to corrosion and tarnish is still unequaled.
Happy Prospecting!
Wednesday, September 09, 2009
Tuesday, September 08, 2009
Searching for $1000 Gold
Higher gold prices are something that all gold prospectors wish to see. Gold fetching $1,000 per once is much better than say $600. For the serious prospector getting a higher value for his or her gold usually ranks as high on the dream list as finding a good lode of the stuff.
Lately due to the uneasiness in stock markets and economies, more and more people appear to be seeking refuge in gold as a investment safety net. This and other factors such as possible supply shortages have caused the price of gold to rise to high levels, excellent prices compared to a few years ago.
The increasing price situation is good for the mining companies and prospectors alike. While some folks predict gold will reach $1,200 per once in the next year or so,which would be great, however rather that happens or not there is still reason to be happy at today's prices.
Today Reuters is now carrying a story titled
RPT-PRECIOUS-Gold futures hit $1,000/oz as investors seek refuge
Here is an exert and link to that story.
By Chikako Mogi
TOKYO, Sept 8 (Reuters) - U.S. gold futures hit a six-month
high of $1,000 and spot gold also rose to six-month high on
Tuesday as the dollar's weakness, concerns about the
sustainability of the global economic recovery and worries
about inflation underpinned sentiment.
Some market players were cautious about prices sustaining
$1,000, however, saying the rally had been driven by
speculators and gold was an expensive buy in historical terms.
Futures have topped $1,000 nine times -- three times this
year and six last year, including a record $1,033.90. Spot
prices have risen above $1,000 just four times - once in
February and three times in March 2008, when they hit a record
$1,030.80.
"Futures were always going to lead the way above $1,000, so
spot can't be far behind. Gold's rising price is due to
uncertainty all the way from personal investors right through
to institutions," said Sandra Close, an analyst for gold
research group Surbiton Associates.
"There are questions out there over the health of
economies, where interest rates are going. All that encourages
gold hoarding. There's potential to see the price go even
higher," she said.
Spot gold XAU= rose as high as $997.90, its highest since
February, when it briefly topped $1,000, before easing to
$994.80. New York's notional close was $993.85.
U.S. gold futures for December delivery GCZ9 touched
$1,000 briefly before slipping to $996.3 per ounce. Futures
settled at $996.70 on Friday. U.S. markets were closed on
Monday for the Labor Day holiday.
Link to Full Reuters Story
Happy Prospecting
Lately due to the uneasiness in stock markets and economies, more and more people appear to be seeking refuge in gold as a investment safety net. This and other factors such as possible supply shortages have caused the price of gold to rise to high levels, excellent prices compared to a few years ago.
The increasing price situation is good for the mining companies and prospectors alike. While some folks predict gold will reach $1,200 per once in the next year or so,which would be great, however rather that happens or not there is still reason to be happy at today's prices.
Today Reuters is now carrying a story titled
RPT-PRECIOUS-Gold futures hit $1,000/oz as investors seek refuge
Here is an exert and link to that story.
By Chikako Mogi
TOKYO, Sept 8 (Reuters) - U.S. gold futures hit a six-month
high of $1,000 and spot gold also rose to six-month high on
Tuesday as the dollar's weakness, concerns about the
sustainability of the global economic recovery and worries
about inflation underpinned sentiment.
Some market players were cautious about prices sustaining
$1,000, however, saying the rally had been driven by
speculators and gold was an expensive buy in historical terms.
Futures have topped $1,000 nine times -- three times this
year and six last year, including a record $1,033.90. Spot
prices have risen above $1,000 just four times - once in
February and three times in March 2008, when they hit a record
$1,030.80.
"Futures were always going to lead the way above $1,000, so
spot can't be far behind. Gold's rising price is due to
uncertainty all the way from personal investors right through
to institutions," said Sandra Close, an analyst for gold
research group Surbiton Associates.
"There are questions out there over the health of
economies, where interest rates are going. All that encourages
gold hoarding. There's potential to see the price go even
higher," she said.
Spot gold XAU= rose as high as $997.90, its highest since
February, when it briefly topped $1,000, before easing to
$994.80. New York's notional close was $993.85.
U.S. gold futures for December delivery GCZ9 touched
$1,000 briefly before slipping to $996.3 per ounce. Futures
settled at $996.70 on Friday. U.S. markets were closed on
Monday for the Labor Day holiday.
Link to Full Reuters Story
Happy Prospecting
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