By: Memphis Gold Buyers
Here’s a look at the latest developments in the precious metals market for the week beginning 2/1/2022
- Geologists Uncover ‘Goldilocks Zone’ for Precious Metals in Earth’s Crust
- There’s a new gold rush in the American West. But is it safe?
- Buying diamonds for Valentine’s Day? Here’s what you need to know.
Geologists Uncover ‘Goldilocks Zone’ for Precious Metals in Earth’s Crust
Leicester research has identified a new ‘Goldilocks Zone’ in the Earth’s crust which could provide metals vital to the green revolution.
Green technology, such as battery storage devices, solar panels, and wind turbines depend on the continued supply of key metals like gold, copper, and tellurium that are essential in their manufacturing.
Critical metals required to enhance the green energy revolution are largely stored in the mantle of our planet, at depths in excess of multiple tens of kilometres that are inaccessible to direct extraction.
Fortunately, every now and then, nature does most of the hard work for us. Magmas sourced from within the Earth’s mantle rise up into the crust and have the potential to carry, and then concentrate and deposit, large volumes of metals.
Dr David Holwell is an Associate Professor in Applied and Environmental Geology and lead author for the study. He said:
“When magmas reach the base of the crust, the conditions there act like a ‘Goldilocks Zone’ for these metals. If the temperature is either too hot or too cold, these ‘valves’ remain shut and metals cannot pass through, but we have found that in many cases, it may be ‘just right’ at around 1,000°C, where metals like copper, gold and tellurium can be released.”
To learn more: Geologists Uncover ‘Goldilocks Zone’ for Precious Metals in Earth’s Crust
There is a new gold rush in the American West. But is it safe?
Gold still exists in the veins of the abandoned mine, and Rise Gold, the mining corporation that purchased the mine in 2017, has reason to believe that reopening it makes financial sense.
When the mine shut down in 1956, it wasn’t because the gold was drying up; it was because of economic policy. The 1944 Bretton Woods Agreement had established a new international monetary system to create stability in exchange rates. As part of the effort, the price of gold was fixed at $35 per ounce. Gold mining became unprofitable in the U.S.
Today, the price of gold is no longer fixed, and prices have risen in response to the economic uncertainty wrought by COVID-19. At the start of the pandemic, the Federal Reserve lowered interest rates in an effort to stimulate the US economy and encourage borrowing money. But those record-low rates decreased the returns on bonds and savings accounts, making gold a relatively more attractive business investment.
Now, with inflation rising and renewed economic uncertainty over the Omicron variant of the coronavirus, demand for gold remains high, even despite some recent dips. As prices have risen and mining technology has become more sophisticated, mines are opening and reopening in places where mining was once thought economically unfeasible.
Still, mining isn’t as simple as it used to be. The U.S. Geological Survey estimates that of the world’s known gold, roughly 63,000 tons are still in the ground, compared with roughly 206,000 tons that have already been mined. And the world’s unmined gold is generally only unmined because it’s deeper underground and thus less accessible. To obtain it, companies have to figure out what to do with huge amounts of mining waste, some of which contains heavy metals and other toxic substances.
To learn more: There’s a new gold rush in the American West. But is it safe?
Buying diamonds for Valentine’s Day? Here’s what you need to know.
Valentine’s Day is a day dedicated to celebrating love, and nothing is more romantic or says “forever” than the gesture of gifting diamonds.
According to a recent Prosper Insights & Analytics Survey, more Americans plan to give jewelry this year than ever before.
Before you start shopping, it’s important to educate yourself on the 4Cs of diamonds, which are a diamond’s cut, color, clarity, and carat size. If you know the cut or style you’re looking for, such as an oval or emerald-cut diamond, your next step is to get real with yourself on your comfort levels.
How much do you want to spend? What size diamond is your partner comfortable wearing? Questions like these will help you determine the color, clarity, and carat size that you can afford.
From there, I’d encourage you to learn more about the different types of diamonds on the market: natural, lab-grown, heat-treated natural, clarity-enhanced natural, etc. and see if you have preference towards one or the other. Different specs and characteristics of diamonds can drastically affect the price, so we always inform our clients of the facts – transparently and truthfully – so they can make their own informed decisions.
What’s the difference between natural and lab-grown diamonds?
Lab-grown and earth-grown diamonds display an identical chemical, physical, and visual composition to each other. Therefore, they exhibit the same levels of scintillation, brilliance, fire, and hardness. Lab diamonds may have varying trace elements, but these elements do not affect the optical display of the diamond. So, appearance wise, there is no visible difference between the two. Even gemologists using tools like a microscope or jewelry loupe, cannot tell the difference with the naked eye. Lab-grown diamonds, or those created in a lab, have really appealed to millennials for their reduced price and sustainability factors. They use significantly less resources than earth-grown diamonds so you can often find lab-grown diamonds that cost 60-70% less than natural, earth-made diamonds.
So how do you know how much your diamond is worth?
First, you’ll want to confirm the type of diamond it is natural, lab-grown, heat-treated natural, heat-treated lab-grown, clarity-enhanced natural, etc. Then, circle back to those 4Cs and work with an expert to confirm the diamond’s carat, clarity, color, and cut. Also make sure that the diamond has a reputable certification from institutions like the Gemological Institute of America (GIA).
Additional Resources:
The Difference between Old European and Modern Brilliant Cut Diamonds
To learn more: Buying diamonds for Valentine’s Day? Here’s what you need to know.