Steve Herschbach Posted September 11, 2014 Share Posted September 11, 2014 It has now been three years since gold set a record high of about $1900 per ounce. Unfortunately it has been trending downwards ever since. I say unfortunately because it makes it harder for me to make a buck off my gold, but it also impacts the manufacturers and magazines, etc. that survive in an industry largely driven by the price of gold. Exploration dollars are very hard to come buy, and sales of gold mining related equipment are pretty much off across the board. Of course nobody knows what tomorrow might bring, but the big money is betting even lower gold prices, and in some ways that very belief is self fulfilling. There are mountains of money chasing returns in the world these days, but right now gold is not where they are looking to get that return. Still, I have to believe that in a world with a constantly expanding money supply and ever leaner gold supplies the long term prognosis for gold is good. It can however go lower before it goes higher again. Only time will tell. Link to comment Share on other sites More sharing options...
Reno Chris Posted September 12, 2014 Share Posted September 12, 2014 the big money is betting even lower gold prices True, but sometimes too many folks betting the same way is a contrarian indicator to the positive side. When everyone everywhere was betting gold was going down at the end of 2013, it instead went up. See: http://www.marketwatch.com/story/gold-may-be-a-buy-as-investors-turn-ever-more-bearish-2014-09-10?link=mw_home_kiosk Link to comment Share on other sites More sharing options...
Steve Herschbach Posted September 12, 2014 Author Share Posted September 12, 2014 Yeah and graphs depend how you look at them. My 37 month chart shows a clear downward trend. But if you just look at it since July 2013 the price is the same now as it was then. It has pretty much bounced around in the $1200 - $1300 range for fourteen months. Link to comment Share on other sites More sharing options...
El Dorado Posted September 12, 2014 Share Posted September 12, 2014 Well Steve, I look at it a bit differently. When I seriously started looking for gold the price was $240/OZ. To me it has steadily gone up and yes I still have some of that $240 gold! Link to comment Share on other sites More sharing options...
azblackbird Posted September 13, 2014 Share Posted September 13, 2014 Well Steve, I look at it a bit differently. When I seriously started looking for gold the price was $240/OZ. To me it has steadily gone up and yes I still have some of that $240 gold! Nice! A buddy and me split a contract and took delivery of some pamps @ $300 oz back in the dot.com days. I sold my 50 oz to fund another dot.com venture. Don't regret it one bit. That venture made me way more money than the gold would have. I hate playing in rigged markets. I'd rather find it than buy it. Link to comment Share on other sites More sharing options...
goldbugron Posted September 13, 2014 Share Posted September 13, 2014 Yes El Dorado, I still have some of that $240 an oz gold. That $400 an oz gold traded for a new 4000 when it was $660 an oz. That was when you could still make a deal down at Stanton. Holding on to what I have now. Goldbug Ron Link to comment Share on other sites More sharing options...
Glenn Posted September 13, 2014 Share Posted September 13, 2014 I sold a lot of my gold when it was nearing 2000 because that was an obvious resistance level, 1200 seems to be the new support level, I keep reading that it will drop below 1000, but I just don't see that, if it should I would be buying everything I could get my hands on, I think the price is controlled to a large extent, but sooner or later gold will break free and shoot toward that magic 2000 number again, if it breaks through that level we could see some dangerous times in the goldfields with all the idiots coming back out 1 Link to comment Share on other sites More sharing options...
Steve Herschbach Posted September 13, 2014 Author Share Posted September 13, 2014 I always have mixed feelings about gold prices. I like that I get a good price, but I do not mind lower prices as it makes picking up decent properties easier. Link to comment Share on other sites More sharing options...
azblackbird Posted September 13, 2014 Share Posted September 13, 2014 I always have mixed feelings about gold prices. I like that I get a good price, but I do not mind lower prices as it makes picking ip decent properties easier. Bingo! I've had my eye on some gold claims from a well known exploration company here in AZ. Cool part is they've already done the geology reports, drilling, assaying, and sampling. Apparently when gold was at it's highs, the ground was good enough to package up and present to investors with prospectuses and the whole nine-yards. This past couple years they let some of the claims expire and kept the best ground for themselves. Now it appears they've pulled the offerings and I'm hoping they let the rest of what they own expire. I won't know for sure until the BLM and County update their records. Link to comment Share on other sites More sharing options...
Glenn Posted September 13, 2014 Share Posted September 13, 2014 I have a lot of new prospectors ask me about filing claims in new areas where they have hit some gold, and I always warn them that the minute you file a claim in a new area you have just alerted everyone that follows the lr2000 that you have found something and you draw attention to your area, better to work it hard and not claim it unless you have stumbled on something worth filing. Most of the times you can get the best of the pickings in a few trips and then the area becomes marginal, I have a few areas that I have hit for years and I purposely won't file on them, they are just nice playgrounds for me and I don't have to watch over them. When gold was up higher everything was getting claimed, it has calmed down a bit now. Link to comment Share on other sites More sharing options...
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