Melman on Gold & Silver
December 2003 by Leonard Melman“Scandals, scandals, everywhere, and not an end in sight!” might be the tag line of a musical depicting the financial markets as they near the end of a particularly tumultuous year. First we had the massive accounting scandals associated with the Enron collapse. This was followed by the corporate scandals where inaccurate and misleading research of one sort or another made headlines. But none of those compare in possible scope to the mutual fund scandals...
The Austrian Mint recently unveiled its new coin—a 68-pound, 24-carat gleaming gold disc worth about $500,000—touting it as the world’s largest and a powerful investment tool.
The Altar District of Sonora, Mexico, stretches nearly 300 miles along the American border and approximately 200 miles along the Gulf coast. This particular district was noted for its rich placer deposits and gold ledges before the Spaniards ever settled the region. Several antiguas (Spanish mines) were later developed by the Europeans and were again being operated by the Americans as early as 1904.
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One of the consequences of the weakening economy and the sharp declines in NASDAQ securities was a sudden weakening of the US Dollar (see chart of D-Mark). As investors began to pull their funds out of the US and return the funds to their native lands, this resulted in sales of the dollar, reducing it in value.
The Bawl Mill • Searching for Placer Diamonds • Lawsuit on Alleged Market Manipulation Continues • Texas "Hill Country" Gold • A Guide to Overlooked Gold Deposits—Part IV • Picks & Pans: Detecting in Northern Nevada • Miners Welcome Comments by Alaska Official • Company Notes • Spectacular Specimens Found in Northern Nevada • New Life for the Suction Nozzle • Oil Seeps in Arizona • Looking Back • Mining Stock Quotes and Mineral & Metal Prices