As I have massive repect for T/A the trend is your friend
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Normal distribution of gold in the crust is just 4ppb (parts per billion by weight). If a goldmine has a high grade of 4 grams/tonne in ore (5ppm), it is already 1,000 times more concentrated than the rest of the Earth's crust. Note silver is a bit more abundant.
I thought the number one rule in shares was to follow the market. I might be catching onto gold a bit late, but I still think there's some moolah to be made here.
Very interesting EZ, in geological terms it might be described as 'rare', but go down to your local bullion dealer and see if it's 'rare' down there.
Very interesting EZ, in geological terms it might be described as 'rare', but go down to your local bullion dealer and see if it's 'rare' down there.
The levels of gold available are still tight (courtesy JB), best they have been for 2 years, but if major money goes after the gold that's around, it would soon be very scarce again. Supply and demand: demand could very well rise dramatically, supply will not. Have a look at the Macraes operation: I think their average is that for 11 dump trucks carrying ore out of the pit, only one will have gold-bearing ore good enough to run through the system. The rest is overburden. Their main gold comes from average ore grades of just 1.5 grammes/tonne. That is normally right on the edge of profitability, their current opencast cutoff is about 0.5g/tonne.
And the message is, “Buy now while it's still available.” I know it may sound like I'm trying to sensationalize it, but I'm really not. Based on what I know, it’s my opinion that if 5% of this country (USA) put 5% of their money into gold, there would be nothing left tomorrow morning. Supply is that small compared to the tremendous amount of money that's out there.
EZ,
Any suggestion we are running out of gold and we should stock up is codswallop. Go to the peak oil thread in 2007/2008 and have a look at all the posts pointing to the dire consequences, that oil is on the verge of extinction. Has peak oil happened, have we run out, do I need to go and buy a car with panels that bend in the wind? No!
Don't buy the "it's running out" story because it's not. Something's always running out, silver, food, water, etc.
See if gold's running out when the hoarding stops.
EZ,
Any suggestion we are running out of gold and we should stock up codswallop. Go to the peak oil thread in 2007/2008 and have a look at all the posts pointing to the dire consequences, that oil is on the verge of extinction. Has peak oil happened, have we run out, do I need to go and buy a car with panels that bend in the wind? No!
Don't buy the "it's running out" story because it's not. Something's always running out, silver, food, water, etc.
See if gold's running out when the hoarding stops.
Skol, all I can say in defense of gold is that it's not oil. You can't just drill a lucky hole in the ground and it shoots to the surface under pressure, millions of barrels at a time. Look at that site in the gulf, oil blowing out for weeks, didn't look like stopping until they capped it.
In view of the imminent danger of hoarding by the Intelligentsia, would you like me to order an ounce or two for you Skol, or are you sticking with DOW? (Dig, dig).
Agreed Skol. Too much fortelling and not enough current statistical evidence.. It all depends on the magnitude of inflation we get. (after the deflation or with no deflation..) Those numbers look big but it's all relative to the spending power of that dollar.. $10,400 is not spending value in todays terms...
Isn't it hilarious, gold $10,400, Oil $250, Silver $75 to $650, nothing like leaving a little bit of latitude.. LOL
These gold websites are getting more desperate every day. It's a little like JB's guru, Peter Schiff's tea leaf reading.
I agree Skol, that's quite poor maths and conjecture regarding the price. I did some calculations on OGC, they possibly have 9Moz of resources all up at the moment, but are only removing 300,000 oz per year. It'll take 30 years to get it all sold. If the price of gold doubled, I'm sure they'd throw everything at it, to get it out faster if it was possible. Maybe that's an indicator, goldmines are fairly profitable at the moment, but there's no mad scramble to up the production yet. Increasing the throughput requires massive capital investment usually.
You took a while to reply...are you thinking seriously about some ingots then?
A bubble maybe in his head
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Originally Posted by elZorro
(Dig, dig).
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