We have just recently added the Shamrock Mining Claim in Yuma, Arizona to our store. This claim covers two mines, one of which is a collared shaft that descends over 150 feet. The site boasts over 500 cubic yards of tailings. Copper is prevalent in the walls, along with some rich, dark iron ore.
After the recent dip in gold prices Peter Grandich - Financial Adviser and Market Analyst renowned for his ability to interpret and forecast financial happenings - predicts gold prices will rise again, hitting the 2,000/oz mark before the end of 2013. In an interview with the Gold Report Peter says the storm has past and now we will see the gold market gain momentum between now and the end of the year.
Steven Cyros, known on eBay as MREdepot, has long been known in the mining circles as a scam artist and a fraud. Selling unstaked claims, filing on patent land and purposefully misleading the uninformed buyers. This week there was a new low hit as Mr. Cyros launched the latest attempt to defraud his customers by creating a website that bears a striking resemblance to the National Bureau of Mines.
A widely circulated story in official Chinese news outlets about the country’s housewives propping up the gold market was met with a fair bit of skepticism.
People’s Daily Online quoted the “Voice of China” radio program which said “one of this year’s most popular phrases may be ‘Chinese housewives’ – as a major force which reportedly spent 100 billion yuan (US$16 billion) over the past two weeks purchasing 300 tons of gold and thus helping to sustain gold prices.”
New data provided by Bloomberg suggests these figures may be not completely out of the ballpark.
Motivated by increasing concerns about the stability of the world’s monetary system. Arizona lawmakers voted last Tuesday in favor of making silver and gold coins and bullion legal currency in the state.
After clearing the House and Senate, the bill is going to Republican Governor Jan Brewer, who has not said whether she will sign it into law or veto it. If signed into law, Arizona would become the second state in the nation to establish gold and silver as legal tender. Utah became the first state to approve legislation that would allow the state to accept gold and silver as legal currency in 2011.