Posted on 01/04/2006 11:00:11 AM PST by hubbubhubbub
Whats Driving Gold?
A gold cart...
If Gold gets high enough, it will bring gold mining companies to life, get people to melt down and sell everything of gold they have. There will be so much gold in the market, there will be a glut.
Sounds like the same kind of fuzzy stuff you'd hear from a religious charlatan pushing a cult. Hmm, come to think of it . . .
This is a classic example of how, for the gold charlatans, it's always the perfect time to buy gold.
Here he argues that if the economy is slowing, it's the right time to buy gold. And if the forecast were for strong growth? "There's fear of inflation: buy gold!"
--the usual sort of commentary on the only commodity of which virtually all that has ever been mined is still available--
Shiny metal god!
True. The biggest question is, a what price to we have to get to in order for there to be a glut. In 1980 it was $850.
: -snip-
Pebble ore find expands outlook
ENORMOUS: Grade of minerals in new discovery on claim's eastern edge called richer than main deposit.
By PAULA DOBBYN
Anchorage Daily News
(Published: December 30, 2005)
A Canadian company hoping to develop the giant Pebble gold and copper deposit near Iliamna found so much more minerals there this year that executives are revamping the project and will delay seeking permits for at least a year.
Northern Dynasty Mines says it found an enormous amount of gold, copper and molybdenum on the eastern edge of its claim block during recent exploratory drilling. The company says the grade of the minerals is even richer than in the main Pebble deposit, 236 miles southwest of Anchorage.
The company plans to announce more drilling results shortly, said chief operating officer Bruce Jenkins this week.
If studies and new exploration next year confirm what Northern Dynasty hopes and if the economics work, the Pebble development could end up much larger than originally thought -- both an open-pit more than 2 miles wide and an underground mine.
"The drilling program at the end of this year produced some unexpected and incredible results," said Jenkins. "It's confirming an entire new deposit to the east."
Northern Dynasty already describes Pebble as North America's largest gold deposit and second largest copper deposit, with estimates of 26.5 million ounces of gold and 16.5 billion pounds of copper. The new finds could make Pebble a mine of even more gargantuan proportions.
Wow factor aside, the idea of developing a mine near Bristol Bay is thorny, to say the least: Pebble is located in the headwaters of the world's largest salmon fishery. Building a mine poses huge environmental risks and threatens sport and commercial fishing industries, making it a high-stakes project of enormous public interest.
-Snip-
$850 inflation adjusted is about $1700 now. I'm good with that. I'll sell before we get there.
The gold bugs incessant harping on the depressed price of gold has put off most mainstream investors. Even if one believed them, who wants to put heavy dollars into something that the government can so easily manipulate or seize?
This has kept the gold market in a state of constant disbelief as the price has risen inexorably over the last while. Such fear is an excellent indicator that the gold market has not seen its highs.
For those who like gold, buy the stocks, not the metal. Should gold double from here the stocks will triple, quintuple, and more. If you follow the Canadian markets, you know that after a long delay, the gold train is finally leaving the station. ;^)
Did you know those darned Asians are buying all the gold? :)
Right. LOL!
LOL, You sound like someone who's mad because they don't own any. Relax, your government controlled money will still be good just not worth as much in the future.
I own some shares of NAK. It's done very well for me.
Not true. I used to trade in silver and gold. I remember when the Hunt brothers drove the price of silver up. Gold is a commodity and there most certainly is production of gold in the market. When large amounts of Gold is poured into the market, the price is affected greatly. Remember the part about "gold mining"?
While there is a finite amount of gold, we have yet to know what that amount is. Of course the devaluation of the dollar inflates the value of things, but like all commodities, gold is affected by other factors, not only the value of the dollar.
And as the $CN rises against the $US your gains are enhanced.
Gold is moving with aluminum, copper, and oil.
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