Topic: World gold supply running out?

http://www.telegraph.co.uk/finance/news … s-out.html

Good reading!!

mlgdave

Re: World gold supply running out?

Just read Kinross's prospectus for the RM mine alone...it is mind numbing just exactly how much that mine produces per year... and I bet you can see the pit they have dug from space *LOL*

Re: World gold supply running out?

I dont think the supply of gold has any problem at all. It's the supply of buyers that seem to be running out. I would assume that many folks just simply overdid christmas and are in Financial recovery mode now. Tis a shame they didnt sure up their portfolio with gold. It has no where to go but up! If countries continue to exit the dollar and recover thier bullion to thier treasuries, there WILL be a supply side issue!

Re: World gold supply running out?

Not even enough folks on this board to bid upwards on gold nuggets which leaves us with just the "Buy it now" option. Definately a shortage of buyers.

Re: World gold supply running out?

Whats the BIG surprise, about no buyers??? You know 2 years ago gold was 640 now it's 1100+. Tell me, how many people are making twice as much now as they were in 2007??? Hell I know MORE people that have lost their jobs than have gotten raises, actually I know no one who is making more now than they were in 2007. I just can't figure you guys out. It's just like baseball cards, it just got so expensive people found other hobbies. Dude, IF YOU HADN'T NOTICED UNEMPLOYMENT IS WAAAY OVER 10% and thats just the people who get unemployment, I am sure it is double that. So tell me HOW CAN NO BUYERS BE A SURPRISE ??? No money no can buy, pretty simple to me.

Re: World gold supply running out?

So ...what yer trying to tell me is that the pretty green paper that the USA prints is worth more than a chunk of gold???

Boy do they have you fooled *LOL*

Re: World gold supply running out?

Gold, Lead and Gunpowder.

Re: World gold supply running out?

im unable to make up my mind on investing in gold or guns. its like all investments im looking at--everything is high now,  good collector guns cost are high, stocks are high, gold is high. the gambel is wheather the price will go up enough in a reasonable length of time to make it worth collecting. then theres the hassel of liquidating the items when you need to. and what if the government decides to call in all the gold again, and setting an artifical price on it? then what happens to the value of the gold im holding?  I need some help figureing this situation out.

Re: World gold supply running out?

Well Trace, I never worked for anyone who pays in gold nor have I worked for any company who pays in green paper. I always get a PAY-CHECK, ever had one?

Re: World gold supply running out?

they are discovering new gold + silver deposits, price goes up per troy oz. = can spend more to recover it. stuff that was financially a losing proposition, is now do-able , but demand, hoarding, and central banks will determine the value, viscious cycle ?

Re: World gold supply running out?

10 tons of vitreous limestone = 1 ounce of gold. This is from the "Largest and most productive gold mine in the world" a pit that can be seen from space... 2 miles wide, 2,000 feet deep, following a fissure in the earth's mantle in Nevada. It was really cool to see how they locate these fissures that allow superheated water to carry gold up through the mantle and deposit within the area of the limestone eaten away by the acidic mixture. They used a very powerfull electron microscope to see the gold particles in the sample. you could actually COUNT the gold atoms in the particle. Most of nevada, arizona, new mexico and southern california have a layer of gold buried beneath a few hundred million years of sediment, locked inside this vitreous limestone when the area was a shallow sea. So when you handle that next visible nugget, understand that it is an oddity of nature, not the norm.

Re: World gold supply running out?

And yeah... I recall getting a paycheck... many years ago... now I get stock sales. dividends, capital gains... ever had one?

Re: World gold supply running out?

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