The Gold Economy

Alaska is set to place a ban on gold mining activities in Bristol Bay if Alaskans cast their votes next week in favour of the ban which supporters of the ban claim will offer protection to the salmons and other wildlife that naturally inhabits the bay.

This gold mining project is the brain child of The Pebble Partnership comprising of Northern Dynasty Minerals and Anglo American. Experts estimated that the Bristol Bay gold mining project is capable of providing jobs for thousands of people in a bid to extract more than 107 million ounces of gold, 80 billion pounds… Continue reading

While the price of gold has been dropping continually over the past few weeks from its all-time high touching off of the $1900 historical price per ounce it attained just over a month ago, some gold mining companies have intercepted high grade gold structures in their various drilling programs.

Treasury Metals Incorporated, a Canada based mineral exploration company, reported intercepting high grade gold at its flagship asset, the Goliath Gold Project sited in the North-western Ontario. Treasury Metals recorded 6.2 grams per ton gold over 5.7meters drilling area and 8.7 grams per ton gold over 5.5… Continue reading

Gold is known to have many industrial uses besides its investment value as a hedge against inflation. Data provided by the World Gold Council indicates that the industrial applications of gold accounted for about 12 per cent of the world market demand for gold which translates to an average of about 434tonnes of gold per year from 2005 and 2009. Gold is known to be useful in the production of electronics and it is commonly applicable in medicine, dentistry, and nanotechnology.

Uses of gold in electronics: Electronics is the area of technology where… Continue reading

Gold recedes on Thursday unexpectedly for the first time in three days after the performance data of the United States manufacturing sector, the ISM, proves better than the common expectations of many analysts and stocks were lifted up in response to the glad tidings.

Gold had posted a dramatic appreciation in price and its strongest gain in the month of August on the hill of speculations that the Federal Reserve would mint more money to ease the economy which had almost slipped into recession and which could have fuelled more inflation and a further loss of… Continue reading