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 Replies: 49 / Views: 6,417 |
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Pillar of the Community
Canada
1581 Posts |
Barrick hit a 21 YEAR LOW today.
The market seems to think all the miners are going out of business.
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Pillar of the Community
Canada
933 Posts |
well they are getting dangerously close to losing or breaking even on each ounce of gold they make compared to the cost. Barrick is only extracting 0.8oz for each tonne of dirt/rock. The operating and production costs are HUGE.
Barrick also made some shifty investments back when gold was 1800...into companies that , at these bullion prices, are losing money, and fast.
Interesting to see how low things will go. Gives me a chance to own some of the shiny gold stuff :P
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Pillar of the Community
Canada
1581 Posts |
The cost of producing gold has soared over the last decade. The easy to get stuff is gone. So, a lot like oil. But, the market is giving $95 a barrel for oil. The mining industry could be accused of becoming addicted to the high prices, but the actual production numbers haven't soared as you'd expect.
Silver is the more interesting situation. Industry uses silver. Most of it comes as secondary production to gold. If everyone now hates gold and a miners can't afford to mine it profitably, where is the silver going to come from?
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Rest in Peace
Canada
1360 Posts |
is the slump over? http://www.bloomberg.com/news/2013-...st-2010.htmlAs I expected, somebody, somewhere, with more money than you or I can even imagine, has manipulated the bullion to a point that they figure they can buy even more. So, now that it is down to that level, you'll see those that can find it, buying physical gold. It will ALWAYS be a solid investment. |
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Pillar of the Community
Canada
933 Posts |
Gold now at $1217...going to break past 1200 today for sure. Slump is no where near over.
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Valued Member
Canada
475 Posts |
" Captain Smith, was that a real iceberg The ship (TITANIC) just hit?" The downward pressure on commodities is no where near over . Think about this little tidbit....................if we ever have to resort to spending gold and silver to buy water gas or food or to pay the rent then we have far bigger problems than a gold and silver price correction.
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Pillar of the Community
Canada
746 Posts |
Looks like we might hit $1150 before the weekend; big steps down! All I can say is: thank God for numismatics!  |
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Pillar of the Community
Canada
933 Posts |
I would like to see $15 silver.
a 10oz bar for $150? Heck YES!!
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Pillar of the Community
Canada
815 Posts |
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Pillar of the Community
Canada
933 Posts |
I know people are buying them...but I just dont understand why. Thats just stupid. You can go to any PM dealer site and get them for almost half price...
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Pillar of the Community
Canada
814 Posts |
Those coins in the link sold for that much because its a collectors coin. They are 2008 and 2005 and 2011 coins...people need them to finish collections. Plus shipping on PM sites for 1 coin is usually around 25 bucks.....and lots of people live in places where they don't have coin or bullion dealers...doesn't surprise me at all those sold for that much
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Pillar of the Community
Canada
933 Posts |
www.canadianpmx.comcheap shipping, fair prices. Still too expensive for me at over 20% spot...but hey, thats the best I've found so far. I wont pay shipping since I can walk 5 min to the store and pick it up, but if I HAD to ship it would be nice and affordable.
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Pillar of the Community
 Canada
685 Posts |
I am selling a sealed RCM 1oz silver bar on ebay for $50 to see if anyone will buy it. Lol |
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Pillar of the Community
Canada
933 Posts |
seriously considering buying a tube of maples and selling at $35 each
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Moderator
 Canada
10463 Posts |
Picked up silver maples today, $2 over spot. I could not say no...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Replies: 49 / Views: 6,417 |
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Posted 06/27/2013 12:04 am
