?????????. My instintcts tell me we soon will be heading south although I know many of you northern yearnin folks are looking for more parkas and insulation to put on, only time and history will tell.
MY OPPINION IS THAT WITH THIS BAD ECONOMY AND UNEMPLOYMENT UP FOLKS ARE SELLING 14kt WHICH WILL BE MELTED DOWN. SOONER OR LATER THERE WILL BE A GLUT OF GOLD THEN WHAT !
Just got done watching a tv show about Austalian gold mines. Looks like a lot of work and a lot of expensive equipment is involved in extracting the gold from the rock. $1,000 an ounce looks cheap. One rock hauling truck costs $4,000,000 It hauls 25 tons of rock to a crusher, and a "good truckload" yields one ounce of gold. The process looked dangerous and the chemicals they use are hazardous. So, all in all, if you are a gold bug, my opinion, $1,000 an ounce is cheap. I am not a gold bug, but I understand being fascinated by precious metal. I like silver, and I like my coins to be on the curiosity side.
Barrick announced today that they are " shutting their hedge book as the world gold supply runs out"
" Production peaked around 2000 and it has been in decline ever since, and we forecast that decline to continue. It is increasingly difficult to find ore."
They go on to say that the supply crunch has helped push gold to an all time high. The key driver over recent days has been the move by India's central bank to soak up half of the gold being sold by the IMF.
China has quietly doubled holdings to 1,054 tons and is thought to be adding gradually on price dips, creating a market floor.
I don't know guys, doesn't look to me like its going down anytime soon.
I HAVENT SOLD SINCE ACQUIRING AT $260/OZ. BEEN BUYING UP TO $560 & $650... A COUPLE OF COINS AT $850. AT $1,100, NOT IN A HURRY TO LIST GOLD COINS. ITS BEEN A LONG WAIT ... HOPEFULLY IT STAYS AT HISTORIC LEVELS FOR AWHILE! EVEN $850 LOOKS LIKE A BRILLIANT BUY ... I WASNT SO SURE FOR AWHILE. AS A RETIRED STOCKBROKER, IVE SEEN ITEMS NOT ATTAIN THEIR FULL & PROPER VALUATIONS; OR THE GOV'T MESSING THING UP .... WITH BAILOUTS, ETC. IF NO BAILOUTS, ETC , THEN GOLD W/B WAY MORE VALUABLE. WHY VALUE SOME HARD CURRENCY WHEN YOU CAN MESS UP & GET MONEY ANYWAYS!!?? IF YOU CAN LOSE IT, THEN HARD CURRENCY ... IS LIKE GOLD!!! GOLD COINS .... GOLD IN THEM HILLS !!!
Must use Buy It Now and PayPal.
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