Help yourselves guys, back the truck up, I've been watching goldbugs do it all the way down from 1920. A couple of gold enthusiasts I was debating with backed the truck up at $1650, it was an absolute steal according to them.
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Help yourselves guys, back the truck up, I've been watching goldbugs do it all the way down from 1920. A couple of gold enthusiasts I was debating with backed the truck up at $1650, it was an absolute steal according to them.
Got down to a touch over $1300
Cant be too many bullish bets out there now.
Yes in free-fall of late ,,like the AUD/USD rate ....AUD Gold $1431oz hardly moved much of late .....ASX exports should get a good kick on I know the like of many miners i.e PAN for every 1c move in AUD/USD south their earnings increase 2-2.5mill p.a last few days they have just added 10mill p.a (if cross rates stay round new levels) ....
nearly all my ASX companies I'm invested in currently create there earnings outside Aus last few month their revenues in AUD are up 12%+ yet Share prices been smashed
I'm waiting to hear from Mike Maloney, Peter Schiff, the Aden Sisters, Ron Paul, Jim Sinclair, Egon von Greyerz, Eric Hommelberg, Martin Armstrong, Jim Rickards, James Turk and all the other 'experts' that have convinced gullible goldbugs to throw their money away.
Must be pretty gut-wrenching for John Paulson, his gold fund's down over 60% this year, you can bet there's another few billion dollars worth of gold that will find itself on the market soon. He's in deep Schiff.
Looks like another spanking underway at the moment. When will it end? Not any time soon.
Which reminds me, I'm still waiting for someone to tell me the relationship between the cost of extraction and the price of gold.
Wonder how the 'very clever chinese', that have bought this supposed thousands of tons of gold are taking it, probably not very well, and lots of chinese 'aunties' crapping themselves.
Not to mention the university-educated central banksters that have also bought loads of yellow stuff. LOL
Thought my portfolio would get a good hammering today ....but only holding CVR,PGI in the PGM sector the latter with 1300oz gold hedging and low cost structure I'm UP $400 thanks to ELM and others shares in the Oil&Gas sector ......OXX,MPO
Fine be great to add to my own kiwi saver at these levels just about back at purchase price
$25oz nzd
Yes snapiti the cost of gold extraction is heading up bout as fast as US debt
Newcrest use to average $250 decade ago now it's like $900oz many many mines
Will close if paper gold keeps heading south