Gold has soared nearly 30% this year, reaching a record settlement price of $1,931 per ounce Monday. Many analysts see it heading even higher as investors look for a "safe haven."
An exhibit at the Smithsonian's National Museum of African Art highlights intricate gold work that nearly disappeared — as well as its past ties to a morally complicated group of powerful women.
"I nearly fell over looking at it ... we were picking it up for hours," said the miner who found the gold. The huge amount of the precious metal is worth millions of dollars.
Each year, more than $3 million in gold and silver winds up in Swiss wastewater, scientists found. But in most cases, it doesn't make economic sense to extract and recycle the metals.
Gold is tasteless, odorless and has zero nutritional value, but it's appearing in everything from hamburgers to $1,000 sundaes. Much of it amounts to publicity stunts, though sometimes it's pure art.
Back in August, officials in Poland thought they had located a fabled train filled with gold in an underground tunnel. Now it looks like the train is just a myth after all.
Mining has been a vital industry to Nevada from the very beginning. Since its admission into the union in 1864, Nevada has had special provisions in its...
Once again, there’s gold in them thar’ hills. Miners first found gold in Searchlight, just south of Las Vegas, in 1897. The gold dried up after about 10...
The price of gold plunged on Friday and Monday, falling to its lowest level in two years and marking the largest drop in 30 years. Many of Nevada's rural communities depend on gold mining. After enjoying years of economic prosperity, they may be in for a fiscal shock. We'll talk to a reporter who covered the gold boom to find out whether these communities are ready for the gold bust.
That sounds like a lot of land--and that's because it is. In fact, it's 12 percent of all privately held land in Nevada; It was sold last week to a Florida-based company that wants to increase mining and geothermal energy plants on its massive land holdings.
The economy might seem mired in recession in Southern Nevada but elsewhere the sick economy is creating a boom - the gold-mining counties have little or no unemployment, construction work for those who want it and the good times are rolling. This counter-cyclical boom is the other side of the bubble that burst in 2008.
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.
