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The Continuing Rise in the Price of Gold

Gold is selling at record prices. At more than $1,700 an ounce analysts say prices continue to rise because of fears of a double dip recession after the U.S. credit rating was downgraded by Standard and Poor's. Nevada is the sixth largest gold producer in the world and with the increase in prices the state's economy stands to gain a significant amount of tax revenue. Nevada's gold mining industry could double its net proceeds in revenue as a result. The Nevada Mining Association says no other industry in Nevada has contributed more to education and local governments. But critics still argue that mining should pay more. We discuss the impact of rising gold prices has on the Nevada economy.

Michael Ginsburg, So NV Dir, Progressive Leadership Alliance of Nevada
Jeremy Aguero, Principal, Applied Analysis
Tim Crowley, Pres, NV Mining Assoc

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Friday, August 12, 2011

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