Take a look at the world around you, it’s interesting to observe how quickly the price of gold will shift given a few political words followed by the simple movement of troops in places like the Crimea or Ukraine. Gold has climbed over 10% recently when these world events combined with the effects of growing concern over debt
Gold has long represented a store of value as a safe haven for investors, in addition to its value for jewelry and ornaments. It’s this political defiance insurance property that gives rise to explosive changes in gold prices when the world wakes up to new uncertainty.
The problem is that it takes time for you to locate gold and it takes time and money to recover it neither of which really care for the timing of current events.
It’s important to realize that while the price of gold may fluctuate wildly, and price shifts definitely will influence the viability of larger scale mining operations, it should not affect your desire to get good at finding gold.
In fact the better you are at finding gold efficiently and recovering it effectively the lower the price gold can go before you have a problem with your prospecting and mining budget. Of course this is especially true if you’re just there to get gold for the fun of it.
When asked about only looking when gold is up in price, a prospecting friend responded, “I was looking at $300 an ounce and I’ll be looking after it’s at $3,000 an ounce, it really doesn’t matter.”
Sounds pretty diehard, but it’s a good attitude for you to take when hunting for gold. That way you don’t quit hunting, just because of a change in current events.
That attitude makes a lot of sense for you as a gold prospector and miner, especially if you get a kick out of finding it.
To really understand this whole process and how finding gold fits together with the mining and recovery of it you should take a look at the stuff I talk about in the gold prospector’s collection DVD series.
Feel free to drop me a line and reply to this email let me know what direction you think gold prices are going in the next year? And more importantly why you think it’ll go there…