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The price of gold is on the rise.

If you have been keeping up with the news recently, you probably already know that gold prices on Monday hit a record high. This comes as no surprise to us at Kamaaina Loan & Cash For Gold, having been in the gold business for decades. This is what happens when the global economy is unstable. Since we have been in this state of flux with the coronavirus pandemic happening around the world for a couple of months now, the price of gold and other precious metals has also been affected. Market analysts are predicting that this increase in gold prices may continue for a while.

So, if you have been cleaning up around the house, as we all have been doing, you may have come across some gold or other precious metal pieces that are just collecting dust in some drawer or jewelry box. You may have even considered parting with those pieces. Well, now is the perfect time to head on over to Kamaaina Loan to get cash for those gold or other precious metal pieces. Our sales team is always friendly to all our customers and will be happy to assist. Remember before heading out to Kamaaina Loan & Cash For Gold, bring or wear a face mask. We are diligent about keeping our location safe for our customers.

Reality TV fight

According to gossip site TMZ, Wayne Jefferies, one-time manager of the Pawn Stars crew is suing them. The split came earlier this year:

But according to the suit, things fell apart earlier this year  . . . when network honchos became upset over a story Jefferies claims he leaked to TMZ. The story detailed how the “Pawn Stars” cast was blindsided when they learned A&E had commissioned a “Cajun Pawn Stars” spinoff.

First we’ve heard about Cajun Pawn Stars. Pretty soon, you’ll be able to watch hot pawn action around the clock.

First Portugal, now Gold selling sweeps Italy

Gold Selling in ItalyA few days ago, we linked to a report that in Portugal, out-of-work citizens have sold almost all their gold. Now, another report says that in Italy, the people also are liquidating their gold jewelry because of hard times.

Reuters: “Times are now so tough that Valerio Novelli, a ticket inspector on Rome’s buses, is planning to sell his old gold teeth.

” ‘I can’t get to the end of the month without running up debts,’ said Novelli, 56, who has to support an ex-wife and daughter. ‘I know I won’t get much, but I need the money .’ “

The story goes on to detail warnings that you have read about on this blog already: That the rise in the price of gold has brought in untrustworthy new gold buyers (in Italy, allegedly connected with the Mafia).

Italians are traditionally collectors of gold: christening, birthday and other gifts are often gold jewelry.

When times get hard, the gold gets sold. It’s hard, but when people get to that point, just think how much assistance they’d get from a bank.

What’s Olympic gold worth in pawn?

An Olympic gold medal is only plate, not solid gold.

It’s really silver-gilt: thin, nearly pure gold over sterling silver.

At current prices of around $!,600 an ounce for gold and $28 an ounce for silver, the metal content of an Olympic medal is around $788.

Add in the sweat equity, though, and it’s priceless.

The nationalism of sport

The host Britons are doing exceptionally well at the XXX Olympiad (despite Mitt Romney’s doubts), leading to claims by NBC reporters that this is the greatest, most uplifting sporting success in English history.

This is typical of TV, which knows nothing of history. The greatest sports event in English history was its wholly unexpected victory in the 1966 Football Association World Cup, which came at a time when memories of the losses of World War II were still fresh (and you could see bomb craters in London) and the country was in the midst of a distressing economic slump.

As any Englishman will tell you, the ’66 cup changed the public outlook. The well-known writer David Lodge even wrote a novel about it.

Gold in the ocean

After World War I, Germany owed a lot of money in war reparations, and also needed a lot of money to import food. Its economy was shaky, so scientists got the idea of extracting gold from seawater to pay the country’s bills.

Although gold is heavy, a small fraction of the gold that rivers wash into the sea remains in suspension.

Germany outfitted a ship with laboratories and extraction equipment and sent it on a long voyage to mine gold from water.

The scheme failed. There really was gold in the water, but about a thousand times less than the original promoters had thought.

Fritz Haber, a Nobel Prize chemist and one of the strangest scientists of his time, eventually concluded that gold from the wedding bands of the researchers had contaminated their samples and given the false readings.

So the gold is still in the ocean, and because the oceans are so big, there’s a lot of it. But it was and remains uneconomic to extract it.

MORAL OF THIS STORY: When it comes to gold, you can never be too careful.