Gold prices

3029heavy said:
But that's still ridiculously low. If there are 20 pennyweights in a troy ounce,(??) they'd only be paying roughly $450 us per ounce. That can't be right...
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I said I will pay $15 per oz.
 

sheesh now you all lost me..
 

I think it is due to the Cyprus bailout. Their gov't is liquidating something like $400 million in gold.
 

goldog said:
I think it is due to the Cyprus bailout. Their gov't is liquidating something like $400 million in gold.
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I heard they are selling it for 15 an ounce!
 

I'm not gonna stop prospecting for it even if it went to zero. It won't stay down long amongst the turmoil. It is my insurance policy when the dollar collapses. And Obama can't track my recovery rates. (Tho I doubt he'd be too concerned about the $30 worth I get in an outing!)
 

johnnysau said:
There is all kinds of manipulation going on, fits in with all the other weird stuff going on. My take, hedge fund betting 1 quarter of a billion dollars on gold, silver, and mining shares to go up so they gonna sock it too'em and drive it down.

SAC Capital Partners LP, a $20 billion dollar group of hedge funds founded by Stephen A. Cohen, quietly positioned itself in over $240 million dollars worth of gold, silver, and mining share investments during Q4 2012.

Of great interest is the structure of those positions. They are indicating, that the firm is expecting a massive spike in both gold and silver, as well as a staggering move higher in the mining shares.
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Mining can include other elements such as Lithium. 1 year ago Lithium traded 4 times more than the price it is today. Despite the lower cost of oil and the access to natural gas, battery power is coming. Despite the new jet liner faults with their lithium battery issues they worked out the problems, went back to building and continue to use lithium. Heck, my wife's Saturn Vue is a Hybrid. The last model before Saturns going under. And you know what? Chevy, not Saturn replaced a recall battery in my wife's car, and with what? a Lithium battery.... the same composition of the original. Just Better. Been fine ever since. Heck, many cell phones are Lithium powered. Any ways, its a penny stock and could be worth looking into. Battery power sources will come, I believe, due to concerns with the enviornment for one. Convenience will be another as technology improves. Just thinkin' out loud....
 

Maybe this could have something to do with the price smash...
[h=1]Why Germany wants its 674 tons of gold back The financial world was shocked this month by a demand from Germany’s Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt – including 300 tons from the Federal Reserve. The Bundesbank’s announcement comes just three months after the Fed refused to submit to an audit of its holdings on Germany’s behalf. One cannot help but wonder if the refusal triggered the demand.[/h]Maybe they need to buy back some of this gold because it was used in trading and sold and now they need to buy it back in order to give it back? Just a guess...
 

You need to see the big picture. :goldpan:
Gold is just being gold.
gold_5_year_o_b_usd.png

Buy if you can. I would if I could. It may drop a little more before July.
Notice the slump each summer because mineral reports are at the end of summer.
Look at the Dec Peaks.
Now this is just a speculation But I think Gold per oz. should get over $2,000 in 2015.
use of gold is going to increase with the population.
Gold may be a commodity but it is non perishable and will only be worth more as time goes by.:goldpan:
 

Others can and will have a different opinion butThe price of gold,gas.food etc is not going up. the value of the dollar is going down and more of it is needed to purchase those things. We're in a false recovery right now due to constant printing of worthless Fiat dollars (that's why gold is being manipulated right now) when the dollar does fail and it will the price of gold,oil, food etc will skyrocket higher than anyone can imagine.....why do you think all these big countries are buying up so much gold? lower prices of gold right now scares regular people and they sell off and that give more inventory for the big guys to buy it up at bargain prices..... and they are bargain prices right now.
This is just an educated theory that i have right now from listening to people like Jim Sinclair, Peter Schiff and more. hang on to your GOLD
 

The only reason the stock market "appears" to be booming right now is because our government can't print money fast enough (with what solid backing?) to pour into Wall Street. Sooner or later extreme debt, too much paper money in circulation and lofty government spending will result in; a week dollar, higher interest rates, inflation and economic stagnation or double dip recession. The only good news that I can see of course is the price of gold will take off again.
 

Down $100 at the moment. Big hits today because of the report China's economy only grew at 7.7% instead of 8%. Can you imagine if our economy was growing at 7.7%?
 

Two points of perspective:

1: the migration of workersfrom farms to cities in china means 8% growth is barely enough to absorb all the newly arrived workers. Anything less than 8% makes the ruling autocracy in China worry about civil unrest and urban unemployment leading to a challenge to their leadership!

2. The people of Japan have started dumping gold due to its relative high price in Yen at the moment (gold is priced in dollars not yen so when the yen weakens against the dollar, they get more yen for their gold...). This dumping may have a short term downward effect on global prices.
 

KevinInColorado said:
Two points of perspective:

1: the migration of workersfrom farms to cities in china means 8% growth is barely enough to absorb all the newly arrived workers. Anything less than 8% makes the ruling autocracy in China worry about civil unrest and urban unemployment leading to a challenge to their leadership!

2. The people of Japan have started dumping gold due to its relative high price in Yen at the moment (gold is priced in dollars not yen so when the yen weakens against the dollar, they get more yen for their gold...). This dumping may have a short term downward effect on global prices.
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This was just posted:
Gold set for worst two-day loss since 1983: Thomson Reuters Business News - MSN Money
 

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