Indonesians Mine Gold Illegally to Produce Gold Bars

Indonesians Mine Gold Illegally to Produce Gold Bars

With the price of gold skyrocketing above $1,500 per ounce, people around the world seek ways to take advantage of the yellow metal. Indonesian citizens have been found clambering up and down rock faces carrying heavy rock loads to be examined for traces of gold. Unfortunately, the search methods involve mixing crushed rock with water and mercury, the latter substance being highly dangerous to human health.

As Ispan Junaidi, a spokesman for the West Lombok government, said about mercury, “We know that’s the cause of minamata, “which is a disease associated with mercury poisoning.

Fortunately, for those interested in purchasing gold bars, there are legal methods. Reputable precious metal dealers offer gold bullion bars of varying purities and weights depending on the financial means or objectives of individual investors. As the price of gold is expected to rise considerably in 2011 and beyond, many investors still consider it early enough to get in the game.

The “gold rush” is a trend happening around the world. As the Market Oracle stated, “This has not just been in the United States. This is not uniquely a phenomenon of the United States dollar. This is an international phenomenon, and it involves the major currencies of the world.”

Fear of spreading debt across the Euro Zone has created greater investor fear and has led many to secure their purchasing power with gold bars and other hedge investments. Investor attention is currently on Italy, the Euro Zone’s third largest economy. Italy is currently in a tight position as borrowing costs on its significant debt have increased considerably. Ron Leven, currency strategist at Morgan Stanley, said, “Italy doubles the magnitude of the sovereign debt situation at a time when European governments have difficultly coming to a common front on how to approach this problem. At least for the time being, it's going to be a negative for the euro.”

As global economic conditions continue to push the price of gold ever upwards, many people will persist in finding ways to profit from the precious metal. Countless investors believe that the most lucrative way to take part in the gold rush is to own physical gold directly via gold bars and gold bullion coins. Gold 10-ounce bullion bars made of at least .995 fine purity are the standard industry units. However, many investors prefer the investment-grade, 10-ounce bars that are made of pure .9999 fine gold bullion.