Gold Bubble?

[Hard Prospector]

Agreed.....Whenever I hear the so called "experts" making market predictions and giving financial advice the red flag goes right up.

[gambler]

Lets not forget, gold is a consumable. it's in your smartphone, your computer, and many parts in your car. I throw away parts every day that have some gold content. like any commodity, it's price will rise and fall.  but will probably trend up long term.

[mn90403]

Did you see the production charts in MILLIONS of ounces per year and we are trying to find tens or dozens of ounces for our own pokes?

 

When interest rates give a return for a safe investment then gold will be sold so that a return can be made off of idle cash.  This is like producing more gold.

 

Production will continue when there is a healthy margin between cost and sale price.  When the price of oil drops production of gold is boosted just as if the price increased.

 

Oil exploration has been cut greatly in the Williston Basin and many thousands have been laid off when the price dropped.  They can keep pumping what they have already found but have to reduce expenses to satisfy the shareholders.

[Norvic]

Tis a crazy world we live in, peak oil production was reached 10 years ago, in 10 years time and we`ve got another 100 years before we reach it according to what consensus you read. Strange thing about our apparent glut of oil, not much different in the price at the bowser to when we were running out of it what a year or so back.  

 

Gold is the only money you can trust, an interesting tit bit picked up on the web.

 

http://www.dailyreckoning.com.au/gold-is-the-only-money-you-can-trust/2013/08/16/

[El Dorado]

I figure that since I can find gold then I must have a way to sell high...... learned to make high quality jewelry and poof I can sell very high.  My sell market right now is hovering at $2K/OZ.  Problem is my supply is not keeping up with my demand.......damn crazy circle.  I just need to stop production and increase finding... and soon that will happen again. In reality, I don't care what the price of gold is, I can make my own market

[klunker]

  Lucky and El D have the best responses int this thread I.MO.

[Norvic]

Current negotiations of the IMF in Greece are of interest or not? will Greece default this Friday or will they be given more breathing space again? Either way this game of monopoly should be good for gold. Toss a coin, mine come up golds at the bottom. Perhaps the IMF should invest in a coin and not one with heads on both sides.

All funny money, gold is a currency that has survived through time. 

[klunker]

 In normal "free" markets you would be correct but but China and Russia want the prices low while they build inventory, ECB wants the prices low to keep people using the Euro, the U.S. must have the price low to keep from diverting dollars from the  the phoney stock market and the same with Japan. So until somebody steps out of line or something very ugly happens I don't expect to see much change in the price, keeping in mind that price and value can be two separate things. A default by Greece could be a trigger but I'll bet the ECB would write off the losses rather than have a country leave the EEU.

 What about Austrailia?

[Hobo]

Bloody hell Relichunter you and I wouldn`t want to get around the camp fire, lots of rum would be drunk but bugger all detecting. Hegemony and supremacy? I see the US as the first "empire" in the worlds history that hasn`t taken over conquered territory rather have tried to bring them democracy. Some successes some failures, you are the worlds policeman, and that is costing big time. No crooks love the cops and bugger all law abiding.

If I remember my history, the US took the country away from the Indians, the English, Spanish and the Mexicans.

I agree, finding it is the best way to aquire gold, but getting a " steal" on some is almost as good. I have bought a considerable amount at yard sales at very good prices

[Norvic]

Your memory is correct I believe Hobo, I should have added in modern times to clarify what I was on about. Japan, Kuwait, Iraq etc  Since you`ve become the worlds super power.

 

Yeah the funny money flows, no way they`ll let Greece default, you`d reckon. OZ dollar has been trending downwards against the US thus gold is over $1500/ounce OZ. We have bugger all manufacturing, continuing balance of trade deficit which can only get bigger if China & India stop buying our iron ore. We are like a bunch of Nero`s fiddling while Rome burns, seems we are facing a big devaluation of our dollar, which will be good for the gold price downunder.