$4000 an ounce

[davsgold]

well gold did hit $4700 per oz in Australian dollars a short time ago, pulled back a bit from that right now

 

[Mackka]

I wouldn’t be at all surprised if it takes a big dip after US stopping help to Ukraine.

 

[Dave's Office]

It looks like gold is going up and the US stock market is what's going down, Trumps unpredictable actions are making a lot of investors very nervous.

 

[Hippyty79]

I read there is a lot of golds being flown into the US at the moment, prior to the Fort Knox audit.

 

[SmugLord]

I read there is a lot of golds being flown into the US at the moment, prior to the Fort Knox audit.

Yes, london bank was crashing out over all the gold being withdrawn from their vaults. I hadnt put that together with the trump fort knox inspection coming up, but theres no way they could purchase enough gold to cover up any deficiencies since everyone assumes either all the gold is gone or its all there.

 

[Hippyty79]

Apparently the Swiss also.

 

[davsgold]

I read there is a lot of golds being flown into the US at the moment, prior to the Fort Knox audit.

haha the old magic smoke and mirrors trick ay

 

[davsgold]

interesting to see who is buying gold and who is selling gold

 

[Dave's Office]

Looks like Uzbekistan is turning its barrels of oil in to bars of gold

 

[Gold:Au]

Those who need cash are selling, those who can see the ****-storm approaching are buying

My prediction is that it will reach $5k before the EOFY.

 

[Simmo]

Those who need cash are selling, those who can see the ****-storm approaching are buying

My prediction is that it will reach $5k before the EOFY.

Yes. Agreed.
$5k aud an ounce before the end of the year and $7k by 2030 is my prediction...

 

[geof_junk]

Those who need cash are selling, those who can see the ****-storm approaching are buying

My prediction is that it will reach $5k before the EOFY.

The way the world of finance is reacting to the USA president I think a bit more before July 2025

 

[The geezer]

Well let all the conspiracy mob have a go at this post. LOL

 

[jonglenwood]

if the price goes up wont production increase to counteract it?

 

[grubstake]

if the price goes up wont production increase to counteract it?

Gold isn't really priced on a supply vs demand basis and in the present uncertain world economic situation, every ounce that comes to market is finding an eager buyer, regardless of the current high price level.

 

[Gold:Au]

if the price goes up wont production increase to counteract it?

There are only a limited number of large gold producers, and increasing their production requires many millions, if not billions, of dollars and years of planning. And you can't do that based on speculation.

 

[grubstake]

Also, a lot of the biggest mines are copper/gold operations, so producing more gold means also producing more copper, which IS supply/demand driven, so increased gold production could lower the copper price - it's a bit of a delicate balance. I'm sure all the majors would love to increase gold output right now, but there's a lot involved in doing so and by the time you achieve it, who knows what the gold price will be and what costs will have been incurred in getting those extra ounces.