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7 hours ago, Steve Herschbach said:

Gold hit $1,944 per ounce earlier today

Time for me to sell some of my coins, I paid a lot less than that 25 years ago. Glad to see the price going up right now and I will have to get rid of about 50 coins.

Thanks for the information Steve!

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Gold Catcher,   The Mojave Nugget was not found by Jim Straight, but by Ty Paulson. Jim Straight knew Ty Paulson, and was prospecting in and around the Randsburg, CA area at the same time. Jim St

I can average around 2 grams + drywashing most days,  sure good to see my wages going up.

For those who possess gold, these high prices seem great, but in reality they reveal that the US dollar is in bad shape, which negatively affects most people on this forum. An ounce of gold remains an

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7 hours ago, Steve Herschbach said:

Gold hit $1,944 per ounce earlier today, beating its previous record of $1,921 set in 2011.

 O.K. somebody has to be the adult in the room so I guess this time it has to be me. What did the best gold detector cost in 2011? what did a good beer cost in 2011? What did license and registration fees for my Jeep cost in 2011?  What did bail to get Sourdough Scott out cost in 2011? What did my psychiatrist cost in 2011? I submit to you folks that gold was worth more @ $1921 in 2011 than @ $1940 today.

 However I'll take whatever gold price increase I can get and this time it looks like it could hold.

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2 hours ago, klunker said:

O.K. somebody has to be the adult in the room so I guess this time it has to be me.

It’s never happened on the forum before so I’m not buying it now! :laugh: Geez, it was only 9 years ago of some pretty low inflation. And really important stuff like big screen TVs and metal detectors are coming down in price... just gotta have your priorities straight!

I’m not impressed by gold matching the old high... more the thought it might get on a real tear. Lots of loose money out there looking for a home, and if the price starts going up we could get a gold bubble. Money chasing money. Not like I have a clue but it’s not out of the realm of possibility at the moment. Going over $2000 will create headlines that could create a catalyst for such a thing.

The guy in this video is saying things I normally attribute to “gold nuts.” Except he is Bank of America’s Global Head of Commodities Research. Frankly, I don’t know that people like that know any more than the rest of us, but for somebody like that to be making a call for $3000 gold... that’s an eye opener. He made that call back in April and it’s up almost $300 just since then.

 

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For those who possess gold, these high prices seem great, but in reality they reveal that the US dollar is in bad shape, which negatively affects most people on this forum. An ounce of gold remains an ounce of gold, what changes are the number of dollars required to purchase it. When the dollar is weak, MORE dollars are required to buy that same ounce. Nonetheless, I will admit that the fat check I received from Midwest Refineries for a handful of ugly nuggets certainly was gratifying. 😀

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I agree Jim. I’m certainly not “for” high gold prices because as Simon noted earlier it comes via some negative cost to society. However, it does not matter what any of us think, it’s going to do what it does. Gotta admit I’m still sitting on a hard rock property in Alaska though, so I do stand to benefit more than most from a run up.

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makes the fines worth catching too,almost...

Am just glad I did NOT sell my 401K positions back in March, was down over 100K from Feb, now am up 140K from March. I put in for retirement Aug 4, sold my condo, closing Aug 15, trying to move to the gold fields of central Indiana. But finding a new place to live out of state in the virus epidemic is proving difficult? Any tips for finding a new rental house out of state when rental offices are all locked up? I don't wanna buy in case we get another recession /virus/market selloff  part 2 this fall/winter. Keep my cash freed up for a housing bargain.

I better find them 1/10 ounce gold coins I got 10 years ago at 60 dollars each. Wonder what they are worth now?

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Righto, from my perspective on the most important piece of equipment for gold chasing here in my backyard. In 1986 I purchased a new Toyota Troop Carrier very bare most basic model naturally aspirated diesel engine that wouldn`t pull your hat off, it cost a wee over 50ozs.

.Recently I ordered another new Toyota Troop Carrier but this time a fully decked out one diff locks, A/C, bull bar, side bars, winch, V8 turbo diesel that pulls like Hercules  all these listed items weren`t on the 86 purchase, this new one now in 2020 costs 35ozs in May when I ordered it. because of production delays due to Covid it will not be ready to pickup until September at the earliest, go gold price go see if price will get down to 25ozs. 

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If only I could buy a car with my gold finds 🙂  Lunch maybe....

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Patience grasshopper, your learning the ropes fossicking, next step prospecting, with the patience and willingness to learn you`ve willingly displayed you`ll find undiscovered patches for sure.

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1 hour ago, klunker said:

What did my psychiatrist cost in 2011?

Definitely a lot less since he has gotten to know you today. It has not been the cost of living increase but the just how crazy is this guy increase.

But remember you get what you pay for, it was the same back then and still holds today.

Just kidding with you I think, I will let the others decide for me.

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