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!"
: -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-
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. ;^)
Right. LOL!
Gold is moving with aluminum, copper, and oil.
I have a limited-time-only supply of golden tulips - get 'em now before the Europeans buy me out!
The professional speculators are creating hype to persuade the amateurs to buy at these high and higher prices so that they (the speculators) can take their profits. If they try to sell without a large number of buyers, it will force the price back down. The true test is whether they are continuing to buy in large volumes or are just awaiting their selling trigger price.
Those darn Asians and Islamics are buying all the gold!
They take those silly dollars for junk and then turn around and buy all the gold. Then those central bankers in Washington DC have their fancy lunches, belch a couple times and then decide to print more dollars.
Meanwhile the gold mines can only produce so much gold. They can't make gold with a printing press or computer -- some poor soul has to dig it out of the ground.
I've written here before how we would have never survived the 1930's if Father hadn't brought those gold coins back from France in the Great War. Now you are seeing a lot of folks saying, "Gee, I'd like to have some Krugerrands but where do I get 'em?"
Everybody has to find out for themselves. And I don't mean ordering them off this here Internet. Because then the government knows you have them and when the next FDR gets elected...
You guessed it -- like that thieving dog Roosevelt they will steal all of our gold!
Darn Asians and Islamics are buying all the gold. They are making America look like a bunch of suckers.
Oh well. You seen one great depression then you've seen 'em all. Of course if you have never seen one then you have a whole new experience in front of you.
Gold is going to the moon. Those central bankers ought to read about what happened to Mussolini...
HG