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Over U.S. $1900 And Climbing....


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The price now is a lot better than when I sold my crappy bits for $800 AUD to by more gold prospecting gear. The remainder plus what I found since (a heap more) will not be sold but inherited as I won't be parted with it, so the kids will have to depose of it. Did someone say $10,000 an ounce, I might have to reconsider whether they deserve it.😀

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I would rather have some food to eat,and what i dont like about gold is when you buy it you have to pay tax on it .and if you sell it  you sell at spot and if you make money you now owe the IRS, Hear in Minnesota if i buy over 599.00 worth i have to file some kind of a tax form, also I am not earning any intrest  on it , I would not mind finding some tho

 

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I remember selling it for $350 an oz🤕

$3000 and more an oz sounds lovely but who can afford to buy it?

If I can still keep getting my $85 a gram I'll be happy...after all I just found it there laying about in the paddock

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According to one report, only 0.00047% of all surface gold has been mined. Let's hope the detector technology improves.....I have seen in one episode of Aussie Gold Hunters this guy dragging a huge coil behind is tractor while driving over a salt lake. Perhaps that's the way to go....

https://www.westcoastplacer.com/how-much-gold-is-left-on-earth/

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Reminds me of this guy who mounted a military grade mine detector in front of his jeep and drove through the washes in the El Paso mountains (So Cal, Randsburg area). He found one of the largest nuggets ever recovered in CA ("Mojave Nugget) several feet deep. That was in the 70's...The unconfirmed rumor goes it was Jim Straight. Perhaps some unconventional techniques like that are worth wile thinking about? I suspect no hand held detector would have caught it at that depth.

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13 hours ago, klunker said:

I submit to you folks that gold was worth more @ $1921 in 2011 than @ $1940 today.

Here's an inflation adjusted plot.  I'm not sure quite their method, but Consumer Price Index (effectively buying power) is the typical normalization method.  I snapped this image from here.

1894834470_Screenshotat2020-07-28102327.thumb.png.7039ec54ac72436068b506cb3652a4a7.png

A couple things worth noting in the plot -- the left hand (Vertical) scale isn't linear.  That is done simply to show more fluctuation detail in the lower part where it would otherwise be squished and difficult to see.  I think the grayish vertical bands indicate recessions.  (Note we are in one now....)

You can certainly see historic events in this plot:  great depression (in particular bank failures and loss of confidence in $), removal of fixed price of gold in USA (1972), are a couple examples.  The long upturn starting in 2000 had multiple impetuses.  For starters the technical price was quite low.  Then 9/11 happened plus the war that followed; 2008 financial crises just added more fuel to the fire.  However, it's a lot easier to interpret after the fact than predict....

IMO, you can always find prognosticators who say something is going to go up and others saying it's going to go down.  Then the 'winners' tout themselves afterwards and the 'losers' go off on something else, hoping everyone will forget they were wrong.  The commodities futures market is the best indicator (but of course far from perfect).  If these predictors of $3000 gold are confident in their predictions they ought to be buying futures a year out.  "Put your money where your mouth is."

Regardless, those who already hold positions (including many of you who have accumulated over the years) are in good position right now.  As to whether or when to liquidate,...  Got a crystal ball?

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On 7/28/2020 at 6:53 AM, Gold Catcher said:

According to one report, only 0.00047% of all surface gold has been mined. Let's hope the detector technology improves.....I have seen in one episode of Aussie Gold Hunters this guy dragging a huge coil behind is tractor while driving over a salt lake. Perhaps that's the way to go....

https://www.westcoastplacer.com/how-much-gold-is-left-on-earth/

Unfortunately mineable gold and detectable gold are not the same thing. Most mined gold is not visible to the human eye. Sadly, in the U.S. at least, we are reaching the crumbing stage of the game. There was more gold being found with the detectors of twenty years ago then there is now with our latest technology. I think GPZ will prove to be the last leap that made a real difference. The good news about rising gold prices is it at least makes looking even for little bits a worthwhile game for some. One gram sold for $2500/Oz puts $80 in your pocket.

93A811B4-3232-4AA5-90BA-CF5BD45351AE.jpeg

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