Steve Herschbach (Inactive) 32 Report post Posted April 12, 2013 That can't be good for mining stocks. Or miners. Share this post Link to post Share on other sites
John I 4 Report post Posted April 12, 2013 I wonder if Cyprus selling off 10 tons of the yellow metal has anything to do with todays drop. http://www.bbc.co.uk/news/business-22106187 Share this post Link to post Share on other sites
Cochetopa 5 Report post Posted April 12, 2013 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 1 The Gold Machine reacted to this Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 12, 2013 Here's the picture; Gold will bounce - it always does. - Geowizard Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 12, 2013 An article was written yesterday. Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 12, 2013 An interesting article; Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 12, 2013 Gotta love people who sink the entire ship trying to launch the first life boat... Gold will jump back up eventually. Share this post Link to post Share on other sites
chickenminer 42 Report post Posted April 12, 2013 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. Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 12, 2013 Yeah, but when it really comes down to it... You dont mine for the money. Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 12, 2013 GoldBellMining, Good point. - Geowizard Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 12, 2013 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! Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 12, 2013 I'm thinking about the gold vending machines in Dubai. - Geowizard 1 The Gold Machine reacted to this Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 12, 2013 Another analogy is basket-ball. - Geowizard Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 12, 2013 Man, thats one candy store I'd like to knock over for Christmas.... lol Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 12, 2013 HOW TO MAKE MONEY ON FALLING GOLD... - Geowizard Share this post Link to post Share on other sites
chickenminer 42 Report post Posted April 12, 2013 Yeah, but when it really comes down to it... You dont mine for the money. Uh well .... it sure helps. A career as a commerical placer miner will be short lived if you don't. 1 The Gold Machine reacted to this Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 13, 2013 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! Share this post Link to post Share on other sites
Dan 2 Report post Posted April 13, 2013 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. Share this post Link to post Share on other sites
Geowizard 122 Report post Posted April 13, 2013 A small miner works on similar economics depending on his margin. - Geowizard Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 13, 2013 I think as long as noone esle sells all their gold, well be ok, if that happens, we can all start lookin for silver... lol Share this post Link to post Share on other sites
Guest co1859 Report post Posted April 13, 2013 Gold will always push back up with the next money crises. just around the corner. 1 GoldBellMining reacted to this Share this post Link to post Share on other sites
Dan 2 Report post Posted April 13, 2013 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. Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 14, 2013 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.. Share this post Link to post Share on other sites
Dan 2 Report post Posted April 14, 2013 Yeah seeing gas drop would help out a lot of people. Share this post Link to post Share on other sites
GoldBellMining 1 Report post Posted April 14, 2013 Its the only thing that never goes down it seems. Share this post Link to post Share on other sites
