New Law Prevents Gold Dredging in Oregon

There is a good reason why gold is highly sought after and has become universally accepted as a monetary exchange medium. Gold is very rare, a great conductor, extremely malleable, and incredibly beautiful. Between 1 and 20 percent of gold has been found in the world. Prices are high and gold fever is rampant. However, a lot of gold miners’ rights are being threatened due to state and federal laws on mechanical use for some forms of recreationally obtaining gold. 

The state of Oregon is currently trying to pass a legislative bill that prohibits the use of motorized equipment for mining with a maximum fine of $2,000. That means trouble for the dredgers that take their gold excavation a little more seriously. This is a very nuanced issue for gold prospectors in Oregon and could reach several other regions if it passes.

The problem with the use of machinery, specifically dredging, is the affect it has on salmon streams in Oregon. Salmon play a vital role in the Oregon economy, but the rights of recreational dredgers must also be considered. Alternatively, being able to safely search for gold using gold panning kits may become used more and more. It is important for the general good to be considered in this circumstance. 

The Gold Rush Nugget Bucket is an environmentally friendly alternative to methods such as gold dredging. Consider us if you want a safer alternative for obtaining gold! 

How Much is Gold Worth? 

Recently in 2013, there has been some debate as to the fate of gold's prices for the remainder of the year. Some argue that the rapidly strengthening dollar is poised to outshine our precious metal, while others insist that the price of gold will remain unhindered by the recent value increase of the U.S. dollar. We might be biased, but we're siding with the idea that the price of gold will remain the same and here’s why:

1. Flat mine supply: The demand of gold is rising and mines that are running low on gold are unable to meet the increasing demands of consumers.
2. Investment demands are growing steadily: Harvest season is fast approaching and farmers in India have a tendency to invest in gold. Furthermore, China has seen an increase in the demand for gold for jewelry purposes.
3. The Federal Reserve is expected to keep interest rates at or near zero: This has perhaps the greatest impact on the expectation of gold prices. Any indication of tapering would be considered a game changer for gold and prices would plummet. Since that doesn't seem to be the case, prospects for the cost of gold are looking up!

If you're interested in reading more about the current debate over whether or not the cost of gold will increase or decrease in the next year, please continue to research online to find out more!