Welcome Guest [Log In] [Register]


Reply
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 (37,654 Views)
MMM
Unregistered

herbie
3 Oct 2013, 07:28 PM
MMM
3 Oct 2013, 05:41 PM
Funny that herbie,you are maybe more familiar with the gold market but wish to sit back and have your dig at our goldbugs,
I am more of a silver bug, and gave you all the low for the year by telling you all what a super bargain silver was on the 26th june this year, the exact low for the year

But the one thing I like more than silver is gold shares, I have explained all this long long ago.

Anyway, as for mining and mining costs of gold there is things you guys dont consider but since you speak of mining costs , I will briefly explain.
As many of you know it costs some companies more to min egold than others and as you mentioned the costs of mining have increased since the boom, mainly because as the priced rised , many spent more on exploration costs and others would mine what used to be unprofitable mines. for example, I recently skimmed over a report from sbm, 140 pages long. which ran at a loss this year after making huge profits last year. they had aquired other mines with lower grades of gold, one mine they had were digging out 2 grams of gold per tonne, another they were getting 4 grams per tonne and another were getting 8 grams per tonne. they only just recently sold of fthe mine which was only getting 2 grams per tonne , which should lift and increase their profits over the coming financial year. barrick gold in the US , has three or so mines for sale in Australia, maybe a couple around kalgoorlie and and another at the plutonic mine, theses have now become less profitable to them since mining costs have increased and the gold price has dropped back.

Anyway the point I am getting at this, firstly many gold stocks have been hammered much more than gold itself, some gold shares are now cheaper than they were when gold was $500 per ounce, they are dirt cheap looking at the fundamentals, some companies can mine gold for $800 an ounce , others it may be costing them $1100 per ounce , depending on the grade in the ground, the depth of the gold, the hard or soft ground they are working with and the experince and quality of machinery they own or already own. So we have seen many companies close some mines or sell off some mines that were less profitable than others since prices have declined over recent times.

But here is the thing ,if a company is mining gold at a cost of say $1,100 per ounce and gold is selling at $1200 per ounce ,they are making $100 per ounce if gold goes up to $1300 per ounce , the profit for the company instantly doubles , if it were $1400 per ounce it quadripes the profit for the company, so a little rise from where it is increases prrofits enormously. and hence the closure of some as profits have decreased enormously on some since price falls. So some gold stocks are a bargain and a small increase in the gold price has massive increaese in company profits. I cannot stress enough how undervalued some are and how some of you may like to take a closer look. you have sort of missed the bottom as it seems that came in late june this year, but there is still much to br had, even on short plays.

I'm not having a "dig" - Rather, stating my impression.

I've got about 7 oz of Au 'n about a pound of pre decimal silver coins maybe? (All bought back around 2005.)

Having worked in the industry, it remains of general interest to me. But I'm not 'invested' in it in any real way at all.

And never will be. Unlike yourself, I simply don't value it highly.

Though I do find jewellery 'n gems rather interesting generally.

But again I'd never 'load up' on them so to speak - Simply don't see the value.
Fair enough herbie.

I do have some silver coins myself, but no real old ones, one of my favorite ones is our one dollar coin in 999 silver,looks brilliant.

I do have a few old gold ones though.

Its amazing what some collectors will pay for rare coins these days, some jaw droppers in the links below

http://www.coinworks.com.au/Archive-Rare-Coins-Sold.html



http://www.coinworks.com.au/rare-coins-offer.html


and old australian banknotes for that matter, In the link below . you will notice the asking price on the first note is,wait for it,
$ 3,500,000.

http://www.coinworks.com.au/rare-banknotes-offer.html

"REPLY WITH QUOTE" Go to top
 
Shadow
Member Avatar
Evil Mouzealot Specufestor

Looks like gold is about to retest its mid-2013 lows.

But FrankRider/Goldbug told me in July that a new bull run had begun?

Posted Image
Edited by Shadow, 14 Oct 2013, 07:29 PM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
Profile "REPLY WITH QUOTE" Go to top
 
Pig Iron
Member Avatar
Bogan scum

just as i predicted, the gold bull is over.
I am the love child of Tony Abbott and Pauline Hanson
Profile "REPLY WITH QUOTE" Go to top
 
herbie
Member Avatar


Gold's going vertical again - Up this time. Hmmm - Will it take out 1320 or 1250 come 0600 hours AEST?
Edited by herbie, 14 Oct 2013, 11:09 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
Profile "REPLY WITH QUOTE" Go to top
 
miw
Member Avatar


herbie
14 Oct 2013, 11:09 PM
Gold's going vertical again - Up this time. Hmmm - Will it take out 1320 or 1250 come 0600 hours AEST?
I'm interested to see what happens at 10:30pm Brissie time when the US market opens.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
herbie
Member Avatar


miw
14 Oct 2013, 11:13 PM
I'm interested to see what happens at 10:30pm Brissie time when the US market opens.
Yep, it's a tough gig being a short I reckon MIW?

By 'n large the world likes shorts generally about as much as it likes bears generally maybe?
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
Profile "REPLY WITH QUOTE" Go to top
 
miw
Member Avatar


herbie
14 Oct 2013, 11:17 PM
Yep, it's a tough gig being a short I reckon MIW?

By 'n large the world likes shorts generally about as much as it likes bears generally maybe?
You win some and lose some. I doubt very much it will rise to the point where I have decided to cover tonight, but you never know. When these reprobates in Washington come up with something, gold will probably dive back through 1280 again. Whether it gets me back in the black is another story, of course.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
Profile "REPLY WITH QUOTE" Go to top
 
mel
Member Avatar


i suspect support levels might carry some psychological weight with short term trades but I honestly lost track of how many supports were smashed on the way down with silver. Silver has been at just under half it's peak for a while and if gold does the same thing it will be around $900. Metal guys assure us it's all about the GSR :re:
Edited by mel, 14 Oct 2013, 11:27 PM.
APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
Profile "REPLY WITH QUOTE" Go to top
 
Perthite
Member Avatar


Pig Iron
14 Oct 2013, 11:02 PM
just as i predicted, the gold bull is over.
Yeah we can survive without that industry hey...

So Kal house prices to the gutter then?

60-80% fall?
Profile "REPLY WITH QUOTE" Go to top
 
Pig Iron
Member Avatar
Bogan scum

Perthite
14 Oct 2013, 11:28 PM
Yeah we can survive without that industry hey...

So Kal house prices to the gutter then?

60-80% fall?
it wont be that drastic but i would say boddington is going to be bad.
I am the love child of Tony Abbott and Pauline Hanson
Profile "REPLY WITH QUOTE" Go to top
 
3 users reading this topic (3 Guests and 0 Anonymous)
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy