Wondering about the Price of Gold

Wow!!!! Gold is now over $1400.00 per ounce. I would have never dreamed it would get that high. I don’t think it has reached its peak yet. But once our country and the world gets back to a better financial situation, the price of gold will then level off and will probably fall. But I believe people will always have more faith in the value of gold than in any governments printed currency.

I have an old friend and school classmate who invested in gold throughout the years. Needless to say, he is quite wealthy today, even more so than he was a couple of weeks ago.

I will tell you one thing; I am getting itchy to go gold prospecting. I told you all about my first gold prospecting trip that I took way back in 2003. Did you forget? Well here is the link to it:
http://dizzydick.blogspot.com/2010/07/prospecting.html

And while you are at it, I did another blog on the ghost town of Stanton, AZ. That is where the G.P.A.A. holds two “group digs” each year; one at the very end of the year and one around Easter time. Here is a link to that blog in case you want to refresh your memory:
http://dizzydick.blogspot.com/2010/08/stanton-ghost-town.html

The price of gold is getting to the level where it is worth spending some money and time to try and find some. The best metal detector that can be purchased for prospecting use is the Minelab. Of course they are real proud of them and a fellow like me who only goes prospecting once every few years can’t justify a cost any where near what they cost. Don’t believe me? Here is price list of three of their units:

Minelab GPX4500 Metal Detector $4750.00
Minelab E-TRAC Metal Detector $1498.95
Minelab GPX 5000 Metal Detector $5595.00

I have an old cheap metal detector that so far has only found me a bunch of bullets, nails, beer can pull tabs, and rattlesnakes. Of course any metal detector is better than no metal detector.

I really love gold prospecting. It is like hunting and fishing, the hunt is the part that we enjoy and the getting is just the end of the hunt. But with gold prospecting, the end of the hunt is a pot of gold, or a nugget, or like me, a bag full of metal trash.

When hunting or fishing that deer steak or that fillet of fish you had for supper cost you one heck of lot more than the best beef steak or fish fillet that you buy at the best restaurant. So the prize you get is not weighed by monetary value, just like gold prospecting. My pocket full of metal trash didn’t pay for the trip, but unlike hunting or fishing, it is possible for gold prospecting to pay off big. A lady I was talking to back on my 2003 trip showed me a $2000.00 nugget she had just found, and that was at fairly low gold prices. One fellow I talked to found over $10,000.00 worth the week before. So, sometimes there is a pot at the end of the rainbow.

My suggestion is to go gold prospecting only if you like to prospect. The reason is that your chances of striking it rich are not all that good, but your chances of finding some gold are high. Of course, you have to look for gold in the right places, and that takes learning and practice.

May there always be color in your pan.