Has Peak Gold Been Seen?

[mn90403]

Here is an article that argues that peak gold has been seen from mining.

https://www.coinworld.com/news/precious-metals/2018/07/world-moving-toward-no-gold-mining-options.html 

When you look at the coinworld pages you will see lots of other interesting gold articles if you like to read such things.

Mitchel

[Rick K - First Member]

Peak oil turned out to be a bad call - fracking ended all that talk.

There’s plenty of gold - just a question of cost of production vs. price of gold.

[Norvic]

Interesting article, if it`s true or perceived to be true you`d think the gold price would rise, which could flow onto our hobby with more chasing gold, more detectors needed, more R&D by detector manufacturers.

Speculating a wee bit, if that were to be the go, maybe 19 will bring us that new even more powerful GPZ, the one the rumour mill has been going on about for a bit now. 

[Hard Prospector]

When gold finally hits $2000 (or more) an ounce, people will be shocked by the new deposits "suddenly discovered" by motivated mining companies. ICMJ had a good article on this topic last month too.

[AU_Solitude]

23 hours ago, Hard Prospector said:

When gold finally hits $2000 (or more) an ounce, people will be shocked by the new deposits "suddenly discovered" by motivated mining companies. ICMJ had a good article on this topic last month too.

This shouldn't be too long from now. I speculate we will see $2000 an ounce gold by 2020. We should be entering a period of economic recession, as we're long overdue, the market seems like it's just figuring this out over the last month. A lot of deep pockets will be moving equity into gold, or gold based ETFs as a security vehicle to carry them through. 

[Andyy]

1 hour ago, AU_Solitude said:

This shouldn't be too long from now. I speculate we will see $2000 an ounce gold by 2020. We should be entering a period of economic recession, as we're long overdue, the market seems like it's just figuring this out over the last month. A lot of deep pockets will be moving equity into gold, or gold based ETFs as a security vehicle to carry them through. 

Sweet. Then maybe all those dinks I have will be worth something.  ha ha.

[Hard Prospector]

3 hours ago, AU_Solitude said:

This shouldn't be too long from now. I speculate we will see $2000 an ounce gold by 2020. We should be entering a period of economic recession, as we're long overdue, the market seems like it's just figuring this out over the last month. A lot of deep pockets will be moving equity into gold, or gold based ETFs as a security vehicle to carry them through. 

As the takers out number the producers in our country, the price of gold can only go up. I'm afraid you may just be right

[Reno Chris]

Quote

ICMJ had a good article on this topic last month too.

It was a good article. Thanks. I wrote it.

No question we are there at peak gold for $1200 to $1300 gold. All the big producers are now forecasting decreases in their production rates for the future.
However, at $2,000 gold, there are a lot of low grade resources that would then become profitable to work.

It is that way now. The ores worked in the mines now for the most part would not have been economic 25 years ago - just too low in grade. Rock that is low grade junk now will be good ore years from now.

[Jim McCulloch]

One thing to remember is that gold is priced in dollars, and therefore the "value" of gold is reflected in the "value" of the dollar. An ounce of gold still remains an ounce of gold, however the "value" of a dollar varies depending whether the dollar is "strong" or "weak." When the dollar is "strong," it takes fewer dollars to purchase an ounce of gold. When the dollar is "weak", it takes more dollars to buy that same ounce of gold. And, as Chris correctly states, even though a "weak" dollar may spiral the price of gold upward, it will reach the point where lower-value gold ores become economically feasible to mine, which will further affect supply and demand issues. The whole issue is pretty complicated. Best advice: go out and find all they gold you can! ? HH Jim

[oneguy]

24 minutes ago, Jimmy M said:

One thing to remember is that gold is priced in dollars, and therefore the "value" of gold is reflected in the "value" of the dollar. An ounce of gold still remains an ounce of gold, however the "value" of a dollar varies  HH Jim

Ditto Jimmy....

My way of looking at gold "value" is much the same.  An ounce is always an ounce.  Back when gold was $20/ounce it took approx. 30 ounces to buy a bare bones pickup truck...today it takes approx. 30 ounces to buy a bare bones pickup truck....nothing has really changed as far as the "value" of gold...????  jmo...….