gold history

The California gold rush began in January 1848 after discovery of gold at Sutter's Mill in the Sacramento Valley.  Almost half a million prospectors swarmed to California, helping to open up the West.  But output peaked temporarily in 1853.  Forward some one hundred years.  The 1980’s saw higher gold prices and production reached 30.5 tonnes in 1985 because of new production techniques and a revived industry.  By 1995, output reached 329 tonnes, 60% from the State of Nevada.  The richest deposit is the Carlin Trend with over 30 major open-pit operations, of which the largest is Gold strike, with an expected average of over 50 tonnes per year.  The modern day gold rush is larger than anyone would have ever expected.  Mexico continues to look very favorable as many international mining companies are opening up operations in that country.  A new gold-backed Euro dollar is expected to increase the demand for gold in 2001-2003.   Major announcements by central banks in 2001 helped increase the price of gold but late year selling drove prices downward mid-term 2001.  The new play in precious metals, beginning second quarter 2002, is expected in silver. Mining company consolidations continue to set a trend for all precious metals operating companies and should strengthen the possibilities of higher prices due to tighter production controls. As 2003 arrives we see gold prices surging past $380 and could go higher!

November 5, 2003 finds a retreat from higher prices as jobs outlook and profit takers sell off the highs!

Gold prices are on the rise due to the falling dollar. On November 17, 2003 gold rose to $398, making this the highest level that gold has seen since topping out at $414.80 on February 5, 1996.

New levels are now being tested and some gold bugs are predicting $500+ gold prices before the end of 2004 (didn't happen). Continued trouble in Iraq, demand and a weak U.S. dollar are just some of the basis.

2005 has been a good year for precious metals with gold rising to over $500 oz.. After a sell off in the first half of the year gold started to rebound in May. November saw a steady rise in gold prices and in December prices continue to rise.

2006 finds gold on the rise once again and has blasted past $600.00 oz.!

May 10, 2006 gold blasts past $709.00 oz!

October 17, 2006 gold determined to top $600.00 oz!

September 28, 2007 gold blasts through $743.00 oz!

January 11, 2008 gold hits $900.00 oz!

Gold hits $1,002.80 oz!

July 15, 2008 gold back to $986.75

January 30, 2009 gold back above $900 to $918.00

September 08, 2009 gold tops $1,007.00 per oz.

November 3, 2009 gold hits $1064.00 per oz.

January 5, gold hits $1,122.60 per oz.

November17, 2012 gold moves to $1,713.70