Steve Herschbach

Gold Drops Under $1500

37 posts in this topic

Hello, Everyone,
 
I am making this post because, like others here, I follow the price of gold.
 
Somehow, I managed to get on the email list of a market advisory service published by Martin D. Weiss. You can read about him here,
http://www.moneyandmarkets.com/
I do not subscribe to his service(s) and have no other connection to him, other than reading some of his publications.
 
Anyway, one of his analysts, Larry Edelson, who concentrates on commodities, is forecasting lower gold prices until there is a washout when gold breaks below $1400, he is looking for a low of $1384 before it is time to buy again.  This guy has been wrong and right on his predictions, so take this as what's you are paying for it.  I just wanted to get it out,, so that you know what others who trade, but don't mine, in gold are thinking.
 
There are two charts mentioned in the write-up, and I've attached them separately as jpeg images.

 

Just my $.02. Hope you find it informative.

 

Are we there yet?

by Larry Edelson


Sorry Cochetopa, but we can't allow copyrighted material even if it is good info, so that portion of the post has been removed.

 

Scott Harn

Editor

The Gold Machine likes this

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 Gold will jump back up eventually.

 

 Eventually .... being a key word here. Gold doesn't just go up.

 When I started in gold was $50 an oz. Then in 1980 gold boomed to an average price of $615. Wow were we rich!

 Then came The Big Slide .... bottoming out at an average $271 in 2001.  Gold did not reach the same average price

above $600 again until 2006 when it hit $603. A span of 26 years.

 

 Moral of the story? Heck I don't know, other than gold doesn't always just go up.

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It doesn't make much sense to me, Why not just sell the gold in smaller portions throughout time when it hits its high point instead of waiting for your nation to struggle and flood the market with all of your gold, thus hurting the rest of the world, but then again, I'm no world leader or businessman!

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 Uh well .... it sure helps.  A career as a commerical placer miner will be short lived if you don't.

 

Definately, I just meant that no matter the price, I'm sure most of us will continue to mine for gold! We are miners, because we love the job, not because we love the money, I'm sure there are professions out there that pay better for a smaller headache!

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I just hope it don't drop down too darn far. Mining is my career and layoffs do happen when it drops too much. Right now all them low grade areas are WORTH digging but not if it falls too far.

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With gold at $1750 we were netting $690 an ounce after expenses for an average for 2012. That's a pretty darn good profit. The bad thing is, if it goes down to even $1000 an ounce, everything has to be looked at and changes made to keep a profit rolling in. So now your working with about $350 to $400 an ounce after expenses. That hurts after a year and a half of HUGE profits. But the good thing is, big companies usually plan for that.

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Its not just gold anymore though, looking at the metals stocks today, everything is dropping. :\ How bout dropping the price of gas for a while..

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