Gold Price Discussion

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Yep, its all coming apart for the US. The domino effect could be catastrophic for everyone though.
Gold & Silver will be the only true safe haven- as it always has been!
You can't print Gold or Silver- you first have to find it, then dig it up, then refine it & then sell it. It's really not that easy to actually get Gold & Silver to the Market.
Despite what everyone thinks, accessible Gold & Silver is not that plentiful. In the case of Gold it is estimated- "in the world there are currently somewhere between 120,000 and 140,000 tonnes of gold above ground. To visualise this imagine a single solid gold cube with edges of about 19 metres (about three metres short of the length of a tennis court). That's all that has ever been produced." As far as Gold yet to be mined- "Where it is known about with reasonable confidence, and can be extracted economically, un-mined gold appears on the books of mining companies as reserves. There remains as reserves about 40% of the total of gold above ground - i.e about 50,000 tonnes." Not much left! Nonetheless for the time being gold is still being mined and refined at the rate of almost 2,600 tonnes per year. Thus the world supply of above ground gold is increasing - or inflating - at just over 2% annually. At current rates the gold supply is growing the under-sized tennis court cube at about 12 cm a year. It will reach a full tennis court sized cube in about 20 years time.
 
Ok, speculation aside i just want to offer my opinion, not advise, and therefore be as critical as you like, these are my observations. Gold is a great moderator, in so far as its exactly the metal you want to be holding when everything else crashes. The idea is you have something tangible, not like shares which reflects a componys value, for simplicity i mean i can weigh a gold bar of 1kg today and tomorrow it will still weigh 1kg, but in a turbulent economic time what is a company really worth, well that depends on so many factors. So gold is easy, price x weight = value. My 6 yr old nephew can understand that, so its great as a moderator. We know gold value fluctuates but will always be worth something, today, tomorrow, forever, out won't break down and will still have the same mass and weight it always had. So in hard times gold can surge. When everything is running relatively smoothly gold is forgotten manipulated and pulled out of the ground at an enormous rate. But you have to keep it in context. How long does gold take to double in value? Compare the fluctuations to say ferrous metals, lead copper platinum aluminium, pick anything you like and you won't see the volatility in gold. That's where its true value to the market is. Its stable, sure of itself and in demand from some direction at any given time. So i makes it unattractive say speculate all you like...would i ever buy it, the answer is no. Having traded in high volume scrap metals for the last ten years in one way or another its hard to leverage a good profit, the sheer amount of time to run its peak course
 
Hi Goldtarget
I feel that you need to take a close at the "Fractional banking system" it is a Ponzi scam we are very close to the end of this money system we operate on.
Your statement that "Gold is pulled out of the ground at enormous rate" it is very hard to find payable deposits,a lot mines in the world are going on hold,because it is costing more than $1500.00 ounce to produce,and when they go to reopen the price will have to be higher again,because the world is running out of easy deposits of natural resources,especially oil,which feeds into everything else.

The Chinese are buying loads of gold,because paper money has failed down through history,you cannot name one that has survived,but gold has.Since 1972 gold has increased by a factor of 40,you do not buy gold to make money,but to hold value.We live interesting times

http://sufiy.blogspot.co.uk/2014/01/there-is-no-german-gold-left-at-new.html
 
the only problem with gold is a lot more people than gold to go around so if money fails a lot of people will have nothing
 
the only time currency is taken away is in a hitler order system or alike, even if 200 billion people live on the planet value is determined by the government or cartel not always based by availability of the mineral. There is always something in great demand doesn't have to be gold, currency is only something that holds value
 
yes and black market is big player in gold price try and control some thing and black market will take big slice
 
thedigger said:
Hi Goldtarget
I feel that you need to take a close at the "Fractional banking system" it is a Ponzi scam we are very close to the end of this money system we operate on.
Your statement that "Gold is pulled out of the ground at enormous rate" it is very hard to find payable deposits,a lot mines in the world are going on hold,because it is costing more than $1500.00 ounce to produce,and when they go to reopen the price will have to be higher again,because the world is running out of easy deposits of natural resources,especially oil,which feeds into everything else.

The Chinese are buying loads of gold,because paper money has failed down through history,you cannot name one that has survived,but gold has.Since 1972 gold has increased by a factor of 40,you do not buy gold to make money,but to hold value.We live interesting times

http://sufiy.blogspot.co.uk/2014/01/there-is-no-german-gold-left-at-new.html
Click to expand...

I still maintain its being pulled out at an ever increasing pace. Hell what happens to it after that is bound to be manipulated. I'm not the type to be a naysayer, and yet i respect anyone that has a differing opinion, but i think a total collapse is well, unlikely. The main point i was trying to make is securing gold as normal everyday citizens is at best futile and i can personal attest the profit that can be gained in trading commodities other than gold. In a ten month window i sold copper at 7.5 times what i procured it for. And it wasn't at an outlay anywhere near $1000 an ounce. Of you so desire trade a few metals and put the profits into gold bars if you so wish, that's at your discretion. But a little transport and tax and you can make thousands, tens of thousands in a single trade without an ungodly sum of starting capital. And its not paper copper, its real you can touch it smell it feel it metal. I have the stitches to prove it. Maybe this isn't the topic at hand I'm merely speaking from my own experience.
 
The australian dollar has not a bit of gold, it is made from nickel and so forth, take it over seas they judge value not by the material used to create the coin but by what your country has to offer in material assets
 
Hi Goldtarget
The world is in expansionary fiscal policy,that means that the debt will just keep doubling,this situation is on going through out the world.
The USA budget deficit has double since 2008 it now stands at 17 trillion plus,so expect that to double again in next 6 years or so,and that does not include unfunded obligations mounting to the order 200 trillion + that is pension etc,this story is repeated through out the world,the system is being held together with sticky tape and wire,it nearly went in 2008

Your thoughts on the gold being pulled out the ground at ever increasing rate,the deposits are becoming poorer,at the turn of the 1900 the average grade of ore was about 20 grams to the ton,now it is about 2-3 grams,this goes for copper and other minerals,you have to remember debt is a claim on future production,and so if production is not there "Trouble" Saudi Arabia has just said it can't be the swing produce anymore.

This is my thoughts,and how I see things,from study the situation,so whether my judgement is right, time will tell.
 
Here is an interesting link that shows the major gold producing countries as well as the declining South African production due to labour, and productivity issues. South Africa was for many years the major gold producer as well as quite a few other minerals... this is a problem.

http://www.goldsheetlinks.com/production.htm
 
Massive amounts of bullion being withdrawn from GLD, JPM, SGE and Comex. I think the mainstream is aware that most of the gold is paper and if they want theirs they better grab it before the music stops.

http://www.zerohedge.com/news/2014-...wal-gold-vault-one-day-another-10-tons-depart

http://www.silverdoctors.com/60-tons-of-gold-withdrawn-from-sge-vaults-last-week

Most of the gold is moving east, China is buying as much as possible.

http://www.bloomberg.com/news/2014-01-27/china-s-gold-imports-from-hong-kong-climb-to-record.html

looks like the next gold run is here. :)
 
this crash coming is going to make the gfc look like a cold in Australia if the bank takes your house and sells it for less than you owe them you still have to pay them back the difference :(
 

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