Hello World! Welcome to Ft Myers Gold Exchange new blog on our newly designed website. We’re really excited to be able to bring you into the FMGE world with this blog. We’ve blogged about gold and silver trends in the past with modest accuracy, however, our last blog we pinned the tail on the donkey by showing that pressure was building for precious metals, i.e. Gold and Silver, to make a bullish run in this current fragile financial marketplace. As I am writing this sentence gold is up to $1347.30 an ounce and silver is up to $22.72 an ounce on Kitco. Gold is back on the one way street heading for the historic price of $2000/oz., it is just a matter of time because there is no place else for gold prices to go, but up.
India is now trading in more diamonds than before because they passed a law not allowing their citizens to trade in gold. The diamond market especially melee, small diamonds, are poised to move in price more now than ever. Historically, diamonds have always been a great investment to keep or move some of your wealth, because it is the only controlled commodity in the history of the world. Now with India and other countries soon to follow their lead, diamond trading and prices are going to fluctuate more than the industry has allowed up to this point. ABN AMRO Bank N.V. in Amsterdam and the De Beers vault in the Antwerp Diamond Bank control the amount of rough diamonds placed in the hands of their cutters around the globe each year. Limiting the amount of gem diamonds placed in circulation each year they can manage the price of this jewelry commodity. The Russian Popigai asteroid crater in Siberia is now thought to have over a trillion carats of raw diamonds! Thankfully, these impact diamonds are considered only for industrial uses and not as jewelry gemstones due to their fragmentation upon impact. Still out there in space are whole asteroids and planets even within our Milky Way that are thought to be totally comprised of diamond. A diamond planet in our own solar system is a striking thought but consider the impact on the market if one of these carbon bodies were to be rope tied and harvested, brought to earth and placed on an “open” market. Needless to say I’m not in favor of anyone at this point in time investing a large portion of their portfolio into the valuable rock for the points stated above. Unless they can get into the rock right or the right rock for the occasion. Come See Us!