GOLD

[Sir Gala Clad]

If you have gold to recycle, now is a good time to carefully monior its spot price, which soared on Jun 24, on news of Britain's vote to leave the European Union.

Gold (COMEX) close $1,337.20 +14.8 +1.12%.

Markets as of 7:55 PM ET
- Gold 1335.0 + 13.00
- Silver 17.90 + .110

Gold/Silver Ratio (my calc) 1335/17.9 = 74.581
(it takes 74.581 troy oz of silver to buy 1 Troy Oz of Gold


Kitco News Jun 24 2016: 2:23 Brexit: Not Done Yet, Gold Market to Benefit for a while.
: 1:55 Gold Prices Soar Post Brexit Shocker, But what's next.

If I had gold to send in refining, I would not send it all in to the refiners at one time but send smaller shipments (scale out) as long as gold is rising - the price of gold could reach as high as $1,424 by the end of this year. according to survey by Bloomberg. However all it takes for gold to pull back is an increase in interest rates, less fear, stronger US Dollar following Jun 24s 8.1% jump.

I would expect the spot price of gold to be very volative as Gold is considered to be a safe haven.
With it's value now determined by politcal verses economic reasons.

Bottom Line: You may be able to pay of the cost(s) of your metal dectecting equipment sooner.
Expect to see more detectorist(s) out there - Increased competition (sigh(.

 

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[RVRoamer74]

Hold out for the $1800 mark,,,,heading soon to an area near you........

 

[ARC]

Several factors aside of this SHOULD also contribute to a continual rise through the end of the year.

 

[Tuberale]

Well said, Sir Gala Clad. Now all I gotta do is find the gold ...

 

[Sir Gala Clad]

Have lots of gold, so finding it is no problem for me.
Only problem, is that the gold is in my teeth (sigh)!

Well said, Sir Gala Clad. Now all I gotta do is find the gold ...

 

[Sir Gala Clad]

It was near $1,700 when I initially purchased my equipment.
Still kicking myself for not buying sealed maple leaf (gold bullion coins) when gold was near it's bottom.
Wouldn't buy now as the hughe spike up was too knee jerk.

Britain was a late commer to the EU, not one of its founders.
Expect the price of gold to move up and down like a roller coaster.
When it drops - No Fear, you are in for a wild ride down.

Hold out for the $1800 mark,,,,heading soon to an area near you........