IS GOLD A COMMODITY : IS GOLD

Is gold a commodity : Hire car in gold coast

Is Gold A Commodity


is gold a commodity
    commodity
  • A useful or valuable thing, such as water or time
  • In classical political economy and especially Karl Marx's critique of political economy, a commodity is any good or service produced by human labour and offered as a product for general sale on the market. Some other priced goods are also treated as commodities, e.g.
  • A commodity is a good for which there is demand, but which is supplied without qualitative differentiation across a market. Commodities are often substances that come out of the earth and maintain roughly a universal price. A commodity is fungible, that is, equivalent no matter who produces it.
  • articles of commerce
  • A raw material or primary agricultural product that can be bought and sold, such as copper or coffee
    gold
  • coins made of gold
  • made from or covered with gold; "gold coins"; "the gold dome of the Capitol"; "the golden calf"; "gilded icons"
  • amber: a deep yellow color; "an amber light illuminated the room"; "he admired the gold of her hair"
  • An alloy of this
  • A yellow precious metal, the chemical element of atomic number 79, valued esp. for use in jewelry and decoration, and to guarantee the value of currencies
  • A deep lustrous yellow or yellow-brown color
is gold a commodity - The New
The New Gold Rush
The New Gold Rush


The New Gold Rush has been written for US citizens who are concerned by the possibility that rapidly increasing Federal spending ( now 41% of US GDP) might bring down the US dollar and their savings with it. The Federal government has been spending massive amounts of US dollars on the bank bailouts, the economic stimulus program, and the high cost of two ongoing wars. In addition to increased deficit spending by the government in Washington, the United States currently has large negative trade balance with other countries. An idea of the size of the trade deficit is given by the fact that the United States is currently in debt to China for more than $2Trillon and owes almost the same amount of money to Japan. Should either country begin to sell off the Treasury Bonds they are holding the US dollar would collapse overnight. These threats to the US dollar, in the context of an industrial slowdown and the off shoring of basic industrial production, could eventually overburden the national budget and lead to an inflation that could be both massive and quick. Because rapid inflation would impose serious losses on dollar-denominated investments and savings, many Americans have been thinking about buying gold as an intelligent form of economic self-protection. The New Gold Rush combines a historical explanation of the relationship between gold and money with five practical chapters devoted to a detailed and careful explanation of gold markets actually work, and how the long term investor (gold coins), the medium term investor (gold mining stocks and other forms of "paper gold"), and the speculative investor (commodity futures in gold) can operate in these markets. The author, Jon Amsden, holds the PhD from the London School of Economics and has followed financial markets both as investor and analyst for many years.



The New Gold Rush has been written for US citizens who are concerned by the possibility that rapidly increasing Federal spending ( now 41% of US GDP) might bring down the US dollar and their savings with it. The Federal government has been spending massive amounts of US dollars on the bank bailouts, the economic stimulus program, and the high cost of two ongoing wars. In addition to increased deficit spending by the government in Washington, the United States currently has large negative trade balance with other countries. An idea of the size of the trade deficit is given by the fact that the United States is currently in debt to China for more than $2Trillon and owes almost the same amount of money to Japan. Should either country begin to sell off the Treasury Bonds they are holding the US dollar would collapse overnight. These threats to the US dollar, in the context of an industrial slowdown and the off shoring of basic industrial production, could eventually overburden the national budget and lead to an inflation that could be both massive and quick. Because rapid inflation would impose serious losses on dollar-denominated investments and savings, many Americans have been thinking about buying gold as an intelligent form of economic self-protection. The New Gold Rush combines a historical explanation of the relationship between gold and money with five practical chapters devoted to a detailed and careful explanation of gold markets actually work, and how the long term investor (gold coins), the medium term investor (gold mining stocks and other forms of "paper gold"), and the speculative investor (commodity futures in gold) can operate in these markets. The author, Jon Amsden, holds the PhD from the London School of Economics and has followed financial markets both as investor and analyst for many years.

78% (14)
Gold Miner with Santa Hat
Gold Miner with Santa Hat
Where else but Auburn, Ca? Giant statue of Claude Chana The majority of settlers who migrated to California in the mid 1800’s to seek their fortune soon found it a disappointing and difficult life. Most went back from where they came or ended up changing their goals and professions in order to survive, especially after the early and easy “placer” mining period where gold could be easily gathered from surface methods as opposed to digging, mine shafting or “monitoring” by use of water cannon. Claude’s story is quite different in that not only was he a successfull miner, but he also made major contributions to a burgeoning California agricultural industry which eventually became our number one industry for many decades. Chana came west from St. Josephs, Missouri, in the spring of 1846, and had a brief encounter with the ill-fated Donner party at Weber Canyon, Utah. Chana’s company made a decision to take a different route to California and to press on, which allowed them to arrive at Johnson’s ranch (next to the Bear River in now Yuba county near Wheatland) several weeks before the Donner party was trapped in the Sierra’s. Chana soon found out that a fellow countryman Teodor Sicard had a land grand just a few miles from Johnson’s ranch across the Bear river and went to work for him in late 1846. Shortly after this, Chana found his way to Sutter’s fort where he worked as a cooper and where he also met and became friends with James Marshall of Sutter’s Mill fame. After 7 months Claude migrated back to Sicard’s ranch where news soon arrived about the discovery of gold in Coloma. Chana travelled up to Coloma where he saw many of his countrymen panning for gold and immediately headed back to Sicard’s ranch to outfit himself to return to the American River to pan his fortune. Chana and a group of several countrymen set out under the leadership of Eugene Gendron who had been in California since 1832 and knew many routes to the foothills. He took them on a shorter route than going back through the normal Sutter’s Fort route of the day. On May 16 1848 Chana’s party was camped next to a stream later known as Auburn Ravine, close to where the town of Auburn, and now non-existent town of Ophir, eventually grew. Claude may have been keeping his hand at panning when he suddenly found 3 large nuggets in his washed out pan. Needless to say, the Chana party never made it to Coloma. Within 18 months, the town of Auburn was named from it’s original gold mining moniker of North Fork Dry Diggins (Plenty of water in the Winter…much less in the summer) and 1200 to 1500 people inhabited the very small and hilly area of Auburn and Ophir. Claude had a successful stint as a gold miner but as the easy placer mining days waned he realized that he needed to take his fortune and pursue his other passion which was farming and agriculture. Chana returned to Sicards ranch where previously in 1846, he and Sicard had planted peaches, apples, almonds, pears, plumbs in the rich loamy Bear River bottom lands. Their trees were healthy, growing and bearing fruit enough to sustain the local area with these rare commodities. Sicard eventually sold his ranch to Chana for $6,000 in gold and immediately set out to make major improvements to the ranch. In 1848 Chana obtained 200 Mission Grape vine cuttings from San Jose and proceeded to plant them at the ranch. Claude was among the first winemakers in California and by 1870 he was producing over 12,000 gallons of wine annually!
PD*24355405
PD*24355405
Gold bars are arranged for a photograph at the Tanaka Kikinzoku Jewelry K. K.'s store in Tokyo, Japan, on Tuesday, Sept. 30, 2008. Gold futures traded near the highest in two months after the U.S. House of Representatives rejected a $700 billion bailout bill for the U.S. banking system, stoking concern of a worsening credit crisis. Photographer: Haruyoshi Yamaguchi/Bloomberg News

is gold a commodity
is gold a commodity
The Goldwatcher: Demystifying Gold Investing
Why did the price of gold hit record highs in 2008? Take a look at the headlines - government bailouts of failed banks, mortgage and credit crises, rising inflation, slowing growth and global insecurity. In order to protect themselves from treacherous financial markets and depreciated paper currencies investors worldwide are turning to gold.
Gold has long been used as money and as a store of wealth, but what's the source of its value? Why does that value sometimes rise so high and at other times fall so low? And what do we know about gold's complex and often tumultuous past that may yield clues about how it may behave in the future?

Gold is a side show on a world financial stage dominated by the dollar. The tail can't wag the dog -gold prices are affected by changes in prospects for the dollar and not vice versa. With uncertain outcomes for the American and global economies, gold's stateless money franchise makes this book compelling reading.
"John Katz is a clear eyed independent strategist and analyst with an extraordinary ability to get to grips with subjects ranging from biotechnology via alternative energy to commodities and gold. Uniquely for a commentator on gold he has no dogmas. To assess the risks and rewards that come with owning gold he introduces opinions from an impressive range of commentators, examines different scenarios that may play out on the world economic stage and highlights situations when owning gold makes sense and when it doesn't. To complete the picture Frank Holmes's contribution to The Goldwatcher explains the risks and rewards. The Goldwatcher has been written for 21st century investors. It will be an indispensable resource for responsible people from institutional money managers to private savers - whether the gold price moves up, down, or sideways."
—Patrick H. Spencer, Managing Director, Head of Institutional Sales, Robert W. Baird Limited, London
"Frank Holmes's stellar track record as a resource portfolio manager is a clear reflection of his understanding of the business, the markets and the factors that affect them. His success is as much about unearthing value as it is about creating an investment process that is religiously followed. If you want to succeed in your resource investment,this book is a must. It's all the more enjoyable because the writing style is easy-going,clear and understandable."
—Pierre Lassonde, Former chairman, World Gold Council, and past president, Newmont Mining Corp
This book is also supported by The Goldwatcher blog - http://wwwthegoldwatcher.com, which addresses news and developments affecting gold and the dollar, updates statistical information and links with sources for data and commentary.

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