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Gold On A New High


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3 hours ago, Andyy said:

yep... all of those little pickers I have that are not too impressive, may now have paid for my gas.  Oh wait ... that went up, too!! 🤔

 

You might as well get rid of them. The GPX-6000 is flooding the market.  🤑

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Add metal detectors and prospecting equipment to that list oneguy posted.

You can bet the prices on those old and new , will go up as long as gold does.

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2 hours ago, geof_junk said:

The GPX-6000 is flooding the market.  🤑

LOL.  now that's funny.  I don't think the GPX-6000 will get you too much more in my neck of the woods.  I already get sizes less than half a grain.  (it takes a while to get in the scoop)  But you never know.  I am waiting for a bigger jump in technology before I trade in my GPZ.  

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23 hours ago, Andyy said:

LOL.  now that's funny.  I don't think the GPX-6000 will get you too much more in my neck of the woods.  I already get sizes less than half a grain.  (it takes a while to get in the scoop)  But you never know.  I am waiting for a bigger jump in technology before I trade in my GPZ.  

I am with you there. 960 nuggets of ½ grain to make a Troy ounce, even if they are shallow, is that many holes worth the bragging rights. Stick with you GPZ and get the bigger deeper ones. It is not🏏 where runs counts but weight does the same as sixes does to your score. 

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My take on gold, when you have a gold coin, it’s yours and you don’t owe anyone anything for it.

But the best part is, nobody owes you!

Think about what Canada did freezing peoples bank accounts for contributing to the truckers!

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That's just the paper futures market Skip. Local gold dealers are paying well over spot and buy prices are all still well over $2,000.

This disconnect between the paper and physical markets has been going on for nearly a year.

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I wonder if the sanctions on Russia are going to push the gold price even higher, they're one of the worlds big gold producers and will not be able to export any for some time now.

It's also going to heavily affect Minelabs results like the share price from the sales impacts as they're one of their big markets for detectors and won't be able to buy them.

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38 minutes ago, phrunt said:

I wonder if the sanctions on Russia are going to push the gold price even higher, they're one of the worlds big gold producers and will not be able to export any for some time now.

It's also going to heavily affect Minelabs results like the share price from the sales impacts as they're one of their big markets for detectors and won't be able to buy them.

Good question. Gold is becoming more scarce and difficult to mine every year. The price of gold is up but so are the costs to mine. Machinery, repairs, fuel costs, & wages all very high. I can't imagine gold loosing value from here. 

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1 hour ago, phrunt said:

I wonder if the sanctions on Russia are going to push the gold price even higher, they're one of the worlds big gold producers and will not be able to export any for some time now.

That's a logical thought. But it seems like it would be happening already if so since as Clay mentioned, these are futures prices.

I read that Russia converted a huge amount of paper money into gold and other investments prior to the conflict, theory being to insulate their reserves against the inevitable decline of the Ruble and their stock market. A rise in gold prices would mean a rise in their war chest funds, effectively cancelling out the effect of some of the sanctions. Makes me wonder if the powers that be are potentially controlling the price of gold for reasons of that nature. Real tinfoil hat stuff though I guess though...

I was considering holding rather than selling my found gold for the first time. But things like that make me wonder.

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