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Gold

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Author Previous TopicReplies: 4 / Views: 978Next Topic  
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sandpaper's Avatar
United States
335 Posts
 Posted 09/17/2006  10:06 am Show Profile   Bookmark this topic Add sandpaper to your friends list Get a Link to this Message Number of Subscribers
Has anyone heard of a large gold find,recently? My brother,a real kidder,says a bunch was found.He didnt know where so I guessed Russia and he agreed. Says gold will plummet.
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dsking's Avatar
United States
2365 Posts
 Posted 09/17/2006  10:23 am  Show Profile   Bookmark this reply Add dsking to your friends list Get a Link to this Reply
sandpaper: I haven't heard about any "gold finds" but, I did locate this news article from Bloomberg that explains the recent fall in the market.
http://www.bloomberg.com/apps/news?...er=australia
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Australia
3831 Posts
 Posted 09/17/2006  11:10 am  Show Profile   Bookmark this reply Add gxseries to your friends list Get a Link to this Reply
Instead of basing your "facts" on rumors, please do read the site http://www.kitco.com/ Now that is some real facts and datas to base on.

The fact is that since the global situation is starting to stablize, demand is starting to drop slightly. There was some problem with the supply too as South Africa is starting to have some issues with the mining process, as they are hitting some extreme geo technical difficulties. However, Australia is starting to put a larger share of gold into the market.

It is not fair to say that gold prices will plummet. All you need is some politics and mining industries to cause havoc in the market.
My partial coin collection http://www.omnicoin.com/collection/gxseries
My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm
Regularly updated at least once a month.
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Irishraider's Avatar
United States
1454 Posts
 Posted 09/17/2006  12:53 pm  Show Profile   Bookmark this reply Add Irishraider to your friends list Get a Link to this Reply
Theoretically speaking though, if a large deposit were found that was not known of before would this really have any effect on the market?

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ageka's Avatar
Belgium
2078 Posts
 Posted 09/17/2006  12:53 pm  Show Profile   Bookmark this reply Add ageka to your friends list Get a Link to this Reply
Fact is that the worldproduction of gold is going down
Fact is that the Central Banks have less gold to sell
Fact is that India and China and Russia are buying more then before

I guess that if these facts are true the price can only go up in the future : but then again apart from electronics show me anything that got cheaper after inflation
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