The 2019 Gold Rush

The 2019 Gold Rush By Rodney Johnson for Economy and Markets

One side of my family has held a reunion every few years for more than four decades. It’s a big, raucous event filled with lots of food, many half-true stories about the past, and copious amounts of alcohol.

In other words, it’s a not-to-be-missed event.

Hosting responsibilities transferred from one sibling at the oldest generation to the next, and then moved down a level. My relatives are spread across the nation. So, we’ve held the reunion in Minnesota, Wisconsin, the Upper Peninsula of Michigan, California, Texas, and Florida. Last week we gathered in Colorado, descending on Mt. Princeton Hot Springs Resort just outside of Salida.

We enjoyed the springs and pools, and many of us went kayaking, hiking, and riding ATVs. But there was one activity that caught my attention more than others.

This year, the Centennial State has experienced a boom in panning for gold.

Grabbing a plastic or metal sluice and standing in 55-degree creek water has been a thing in Colorado since gold and silver were found there in the 1800s. But this year, things are different. Over the past winter, the state received more than 160% of the average snowfall from 1981 through 2010, which was followed by a wet spring. The resulting runoff has closed attractions like the creek bed hot springs at our mountain retreat. It’s also moved boulders and sediment that has been in place for hundreds if not thousands of years.

As the rocks have shifted, whatever was underneath has become exposed. In some cases, that includes gold.

I didn’t see anyone show up with gold nuggets, or claim they’d found riches, but there’s no doubt that many of the visitors trolling the mountains were keeping a weather eye for the shiny stuff.

Investors appear to be doing the same thing.

Banking On Gold

After spending almost eight years in purgatory, bouncing between $1,100 and $1,300, gold finally broke out to the upside a few weeks ago, climbing through $1,400 and – despite a brief downturn Tuesday morning– now sits comfortably around $1,500. Gold enthusiasts (who are not to be confused with insects) are starting to feel a bit more confident. But their benefactor isn’t the weather, it’s the coordinated efforts of central banks around the world.

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Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.