Major Reason for Gold Price Rise
Submitted by LionandLambMinistry on Wed, 11/11/2009 - 10:14
Yeah, it's not all "juicy" like the economy is collapsing, but this sure does explain the gold price rise based on the simple economic principles of supply and demand.
http://www.cnbc.com/id/33856514
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
www.LionandLambMinistry.com
Dave
»
here read this...
http://blog.mises.org/archives/010461.asp
this is what ive been
this is what ive been telling people
Are they buying it?
Are they buying it?
C'mon L&LM. You Know our God is a God of abundance
They want you to think its all been discovered and supply is limited so they can jack prices.
http://www.goldalert.com/stories/Gold-Miner-San-Gold-Discove...
And there are others that will be producing later on.
The Last Hope Trader
Forensic Trading For Times Of High Crimes
"GINO" = Government In Name Only
Gold supply is almost constant
Most of the gold that's ever been dug up is still around. Very little is consumed beyond recovery. Closing a few small mines doesn't amount to a pile of pyrite.
The dollar is dropping like a stone drops. India slurped up half of your gold that the IMF is selling - at market prices. China is selling gold to its inmates. There's a lot of buzz. Too much buzz? I don't know. The chart does not look quite as blow-off toppy as it did in March '08. Public sentiment may not mean much when the central banks and sovereign funds are buying.
Jive, I couldn't stop laughing when you said
"China is selling gold to its inmates."
Oops I fell off my chair.
The Last Hope Trader
Forensic Trading For Times Of High Crimes
"GINO" = Government In Name Only
I'd say gold is rising because of
the relentless advertising it receives.
Actually it is because people are selling gold
People are strapped for cash and selling gold. The advertising is a result of the market to purchase it. There are way more companies that want to buy gold because they make huge profits when they give someone 1/3 the price of what their jewelry is worth.
The advertising you see is because you watch a station whose core audience is people with money who can actually buy it still.
They wouldn't be advertising to people who can't afford it now would they?
There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.
-Professor Bernardo de la Paz, The Moon is a Harsh Mistress
Robert A. Heinlein
History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower
Gold rose due to terrorism fears created by @ssholes
The government terrorized us into accepting the Iraq War, the Patriot Act, etc.
Likewise, many opportunist @ssholes (including the government) are terrorizing us into buying overpriced gold.
The dot.com bubble moved into the housing bubble which moved into the gold bubble.
Wheeeeee....let the roller coaster of idiocy continue.
You are wrong
The government doesn't want people to own gold. That is economic freedom.
Ron Paul believes in gold. So does Peter Schiff. So does Jim Rogers. And Alan Greenspan, if you look at one of my recent posts, also knows that gold is the only material that holds wealth and economic freedom.
There is an asset bubble but it is not in gold. The Indian central bank did not just buy gold at $1045/oz just because they want to pay more and hope to convince people to. They bought it to secure their own wealth.
India and China sell gold to their citizens, the U.S. government does not promote or if they are I don't see it.
You are being duped and think that fiat currency, i.e. worthless paper, has value.
There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him.
-Professor Bernardo de la Paz, The Moon is a Harsh Mistress
Robert A. Heinlein
History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower
They're going to close a
They're going to close a "couple" mines. Let's say that means three mines. According to the article, they're getting 35,000 to 50,000 tonnes per month, at 3 grams per ton. That means every year, one of those mines produces 1.8 tons of gold. So if they close 3 of them, that's a reduction in the global gold supply of 5.4 tons.
In 2002, 2,600 tons of gold were produced. Based on 2002 production, the closure of these mines would constitute a reduction in global gold supply by a factor of 7 X 10^-4, or 7 hundredths of one percent. Hardly enough to cause a demand shock of the magnitude evidenced by the more than 50% increase in the price of gold in the last year or so.
Couple means two...
... unless you are from California, where coupling is more varied.
that is only 1 mining
that is only 1 mining company.. there are many more south african mines shutting down because they can't get electricity to run the mines..
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Right!
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
It's another piece of info that makes SENSE as to gold's rise
China's people can now own gold, India's latest purchase, these and other mines closing, etc...
My POINT in all of this, is that the rise in gold's price, and the fact that silver seems always stalled between 15-20.00/oz., suggests that this is NOT all U.S.Dollar woe centered...
I am, also, sick of all the fear mongering with respect to the purchase of commodities. It's worse than the swine flu garbage being peddled by the MSM.
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
what do you mean with fear
what do you mean with fear mongering with respect to purchase of commodites?
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
Owned
Owned!
you must have gold for sale
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
nailed it.
thank you.
Nailed what?
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
So?
What makes you think this has a significant impact on world gold supply?
What makes you skeptical that it does not?
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Because
Because the article only mentions closing a couple of mines with low-grade ore. If they were producing lots of gold they would not be shut down. How many gold mines do you think are operating in the world? Thousands? So you have MAYBE one tenth of one percent of all gold mines in the world shutting down AND they are being shut down because they are unproductive mines with low grade ore. Therefore, insignificant impact on world supply.
Now, back to MY question - what evidence do you have that this is a significant impact on world supply? Since YOU are making the claim, support it!
Again, what EVIDENCE do YOU have? None...
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Stated
I stated my evidence from YOUR post.
YOU made the claim that this is THE MAJOR reason for the rise in gold prices. Are you going to support your claim or not? I guess the answer is "not".
If There's 1.2 billion people or more, in China.
And Gold ownership has just recently been approved by their Communist government, don't you think those Chinese people with any savings at all are exchanging whatever savings they may have had in the past for real long term wealth???
Gold !
I read that Chinese now own more computers than any other country in the world, if they can own computes wouldn't it make sense that they have enough extra money to own Gold?
beesting
Buy palladium.
It's the wise thing to do.
Gold may be too expensive to mine in South Africa because of the high Rand, but since multi national companies, such as Anglo Gold, have mines all over the world, I bet gold mines in the U.S. are very active these days, and with gold high against the dollar, American miners are making good living these days.
As for me.
Paul-lad-I-am-one/palladium
After of course taking care of my necessities and of course hiring and paying employees. Can't let money sit idle, it doesn't reproduce. Workers produce.
grant
How much ore is mined
How much ore is mined annually from the "couple" of mines that are being closed?
Read the article
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In Yâ-hwéh Yâhuwshúa`, The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.
In The LORD Jesus Christ;
Dave
"where the Spirit of the LORD is, there is liberty." 2 Cor. 3:17
http://www.lionandlambministry.com
Doesn't say
YOU read the article! It doesn't say how much gold those mines produce.