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Gold price dives through support to new low. Gold Bubble continues to deflate.; Gold price to drop another 15% this year say strategists at Societe Generale
Topic Started: 3 Apr 2013, 10:29 AM (37,665 Views)
Catweasel
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peter fraser
17 Sep 2013, 12:26 AM
I own some gold - it's Nick who I think of when I look at the price of gold, therefore I enjoy losing money.

There are many things in life more satisfying than a profit. Losses can be fun.
Catweasel laugh.

Of the course, rascals can the squeal if its mouse house the profits be impact.

But a mouse house the orgy, then a bank the profits go nutty.

Mice glee about a gold,

not the so good,

if it look at a junior the miners,

which a now the lowest,

since a GF the C.
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peter fraser
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Catweasel
17 Sep 2013, 12:58 AM
Catweasel laugh.

Of the course, rascals can the squeal if its mouse house the profits be impact.

But a mouse house the orgy, then a bank the profits go nutty.

Mice glee about a gold,

not the so good,

if it look at a junior the miners,

which a now the lowest,

since a GF the C.
I would be a bit worried about gold miners in an era of falling prices and rising costs.

And that has nothing to do with Nick

Others may have better industry information.
Any expressed market opinion is my own and is not to be taken as financial advice
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Catweasel
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peter fraser
17 Sep 2013, 01:05 AM
I would be a bit worried about gold miners in an era of falling prices and rising costs.

And that has nothing to do with Nick

Others may have better industry information.
Unfortunately,

a junior miners is a aggregate,

of a minings across all a commodities,

so a some is missing love-fest,

of mouse house orgy.
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Admin
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Administrator

Quote:
 
China stocks up on gold as price tumbles

ROBIN BROMBY
September 16, 2013 12:00AM

THEY'LL be clinking champagne glasses at the People's Bank of China after reading Goldman Sachs's latest gold forecast. The Chinese central bank will be looking forward eagerly to filling more of its vaults with the metal at bargain basement prices.

Jeffrey Currie, head of commodity research at Goldman, says the yellow one could fall below $US1000 an ounce and the bank's target average for 2014 is $US1050 an ounce.

Sure, it's been a bad week for gold. The seeming truce on the Syrian chemical weapons issue (no US airstrikes required) and anticipation that the Federal Open Market Committee, which meets tomorrow, will reduce the rate of money printing have induced a market feeling that all is well (no wealth protection required).

Gold lost 5.5 per cent last week (and has dropped 22 per cent since January 1) and came close to breaking through the $US1300/oz support level; silver was down 9 per cent on the week.

Gold won't look too flash this week, either, as fund managers expect Middle East tensions to ease and inflation fears to diminish.

But gold falling below $US1000 an ounce? There's only a one-word response to that: phooey!

However, the PBOC will welcome prices remaining about where they are or even drifting down into the high $US1200 zone. The falling gold price has certainly spurred Asian purchases.

The latest update from Thomson Reuters subsidiary London-based GFMS reports two fascinating numbers. One, the disinvestment by institutions and exchange-traded funds in the first six months totalled 456 tonnes, compared with the same period last year.

Two, Chinese gold-buying in the three months to June 30 was up 148 per cent year-on-year (and there were steep rises in Thai and Indonesian buying, too).

"Astounding" was the word GFMS used in relation to the Chinese purchases. Worrying, is the word we would use: Western investors will probably rue their selling decisions

Read more: http://www.theaustralian.com.au/business/opinion/china-stocks-up-on-gold-as-price-tumbles/story-fnciihm9-1226719585633
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Catweasel
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Vampire Squid and a Chinese in a same press the release.

That the one aimed at heart and minds of its rascals.

And feature the anti-metal.

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Thatguy
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goldbug
16 Sep 2013, 06:10 PM
Actually I loaded up under $1000. How about that sydney property portfolio of yours, how much has that fallen since you bought in at the top of the RE bubble?

Gold has a floor dictated by the cost of production, which rises with the price of oil. I would say that floor is around $1200US now. Just as the price of gold rose in the seventies from $35 to $200 and held, I can't see gold going much lower now. Goldbugs for the most part don't have the gold lotto mentality that seems to grip most investors these days. We are happy to see gold keep place with real inflation, against such vehicles as term deposits which depreciate over time against real inflation. This is the secret of gold, it went up throughout the 2000's because the price of oil, hence the price of everything, went up over the same period.
I wouldn't think the price of production for gold is $1200US an ounce, not for the volumes actually NEEDED for the economy. There is a LOT of surplus gold out there. Like uranium.
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b_b
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Thatguy
17 Sep 2013, 01:00 PM
goldbug
16 Sep 2013, 06:10 PM
Actually I loaded up under $1000. How about that sydney property portfolio of yours, how much has that fallen since you bought in at the top of the RE bubble?

Gold has a floor dictated by the cost of production, which rises with the price of oil. I would say that floor is around $1200US now. Just as the price of gold rose in the seventies from $35 to $200 and held, I can't see gold going much lower now. Goldbugs for the most part don't have the gold lotto mentality that seems to grip most investors these days. We are happy to see gold keep place with real inflation, against such vehicles as term deposits which depreciate over time against real inflation. This is the secret of gold, it went up throughout the 2000's because the price of oil, hence the price of everything, went up over the same period.
I wouldn't think the price of production for gold is $1200US an ounce, not for the volumes actually NEEDED for the economy. There is a LOT of surplus gold out there. Like uranium.
Too right.

Only 10% of Gold is used in production. So only the lowest 10% on cost curve is relevant when thinking about the production value of gold. That pegs the right price for gold at US$250-$300 per oz.
Posted Image
Attached to this post:
Attachments: Gold_20Cash_20Cost_20Curve.jpg (123.81 KB)
Edited by b_b, 17 Sep 2013, 01:14 PM.
(S – I) + (T - G) + (M - X) = 0
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Catweasel
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b_b
17 Sep 2013, 01:13 PM
Too right.

Only 10% of Gold is used in production. So only the lowest 10% on cost curve is relevant when thinking about the production value of gold. That pegs the right price for gold at US$250-$300 per oz.
Posted Image
Catweasel say crikey.

Chin scratch support revelation backed by a Vampire the Squid.

Mouse, particularly in Asia, is driven by the superstitious and cultural weird.

But a Vampire the Squid and rascals know the better.

Whole world going mad as batshit.
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b_b
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Catweasel
17 Sep 2013, 01:25 PM
b_b
17 Sep 2013, 01:13 PM
Too right.

Only 10% of Gold is used in production. So only the lowest 10% on cost curve is relevant when thinking about the production value of gold. That pegs the right price for gold at US$250-$300 per oz.
Posted Image
Catweasel say crikey.

Chin scratch support revelation backed by a Vampire the Squid.

Mouse, particularly in Asia, is driven by the superstitious and cultural weird.

But a Vampire the Squid and rascals know the better.

Whole world going mad as batshit.
Not just squid. This is generally well known information. Even the Gold producers have similar analysis. Very easy to compile since most gold producers are listed.
Posted Image
Attached to this post:
Attachments: seaksmcashcost.png (95 KB)
Edited by b_b, 17 Sep 2013, 01:30 PM.
(S – I) + (T - G) + (M - X) = 0
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Frank Castle
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Business As Usual

peter fraser
17 Sep 2013, 01:05 AM
I would be a bit worried about gold miners in an era of falling prices and rising costs.

And that has nothing to do with Nick

Others may have better industry information.
Like this one?
Quote:
 
Murchison gold mine closes
Posted Sat 17 Aug 2013, 12:48pm AEST


Miner, Reed Resources has been forced to close its gold mine in the Murchison region after failing to raise the money it needed to keep operating.

The company bought the mine in Meekatharra in 2010 and re-started operations in February.

Reed says lower than expected grades and technical problems have been hampering its efforts to secure enough funding.

Ferrier Hodgson has been appointed to administrator the project.

The company has also flagged a review of its other mine sites.
http://www.abc.net.au/news/2013-08-17/mine-close/4894112
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The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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