Menu
Sister Sites

  • Gold Crashed This Year, And That's Awesome News For The Whole World

    From businessinsider.com

    The above chart shows the year-over-year change in the price of an ounce in gold. As you can see, this was the first year in over a decade that gold was down for the year. Not only did it fall, but it fell big. Everyone in the world should be happy about this development. There's a few reasons for this: -- The most obvious reason to be happy is one simply of direct observation: Gold crashed because the economy is returning to normal. People no longer feel as though everything is going to collapse. The US is doing okay, the European crisis is over, and there aren't major fears of a hard landing in China. For now ... (full story)

a good signal to short for retail traders
the Gold price is still too expensive, should be 1000
Sell On Rumors and now it is time to buy back as it is in the News..
Whatever this guy is smoking, I want it lol
"To hold, you must first open your hand. Let go." - Lao Tzu
Yes everyone is happy, including the gold bugs because they can now buy more gold!
"Where you want to be is always in control, never wishing, always trading.
I can't believe an Australian wrote this BS,US is doing ok, the European crisis is over!

Come on the cash rate's near on 0 and will be for many year not to mention the massive debt that these country's can never pay back in these crippled country's and little does this moron relies without this "useless rock" he wouldn't have this fast computer to type up this BS!

When US start to raise interest rate (if they ever do or can) US businesses will collapse as there only surviving on cheep credit LOL

This so called gold crash is only a pullback and the more gold mines that close now the higher price will go long term!

$1112 and I'll start building on my gold portfolio for long term investment!
Gold is something that I rarely trade but here it is very tempting to actually buy it. Though it is only 5% of my targeted purchase, it will slowly increase with each fall in gold prices.I am buying and forgetting it. The more the gold mines close , the happier I become. Gold is a natural resource and it is not a never ending mineral. So keeping it now will definitely payoff in the next few years. More of an investment instead of a trade. $800+ is what my mentors tell me and they said this when it was over $1800. My calculation tells me it may go below $1000 in the short term.
Lets see what happens with this metal.
Leaders don't do different things, but they do the same things differently.
Quoting boon2
I can't believe an Australian wrote this BS,US is doing ok, the European crisis is over!

Come on the cash rate's near on 0 and will be for many year not to mention the massive debt that these country's can never pay back in these crippled country's and little does this moron relies without this "useless rock" he wouldn't have this fast computer to type up this BS!

When US start to raise interest rate (if they ever do or can) US businesses will collapse as there only surviving on cheep credit LOL

This so called gold crash is only a pullback...
It's embarrassing isn't it....
When this market pops again (perhaps in a few years ) and Governments are still carrying debt at oxygen starved levels, we'll see where the money flows to.
Come with me if you want to live....
@ $1200 an ounce Ozzy gold mines are barely making a profit and US it's about $1100 as there wages are much lower,I'm not sure about African gold mining cut off point and China the biggest gold producer in the world well I don't think they really care about price as they don't export any of there gold to my knowledge.

@ $1000 an ounce my gestamation is not many gold mines will stay open excluding China!

Therefore I would be surprised if gold stayed under $1000 an ounce for to long!
Gold is gold, seeking the price to buy.
The argument that mines can not produce at sub $1000 is very flawed and nothing more than desperate propaganda to keep prices artificially elevated. I have personally panned for Gold and have prospector licenses in South Africa, Zimbabwe ,Brazil and Guyana with intent to start a larger scale operation once prices stabilize and every Tom ,Dick and Harry is not out there destroying the Eco system and polluting the rivers with mercury and cyanide, for a couple of nuggets(just because the ridiculously elevated prices , based entirely on peoples pessimistic nature of the world coming to an end, make it worth their while), and thus governments are reluctant to give out permits and assistance for small scale operations , for fear of environmental catastrophes.

Gold is actually a very easy metal to extract from ore. Even very low grade ore at 2g per tonne of ore will not cost more than $300 to extract and smelt, on a small scale level it will cost significantly less. The biggest costs involved are NOT labor and fuel, fuel is usually subsidized and labor is very often replaced with technology in mines where labor costs are high (definitely not the case in the worlds largest producers such as South Africa).

Its all too easy to pretend to know what you are talking about because you have heard this Bs being repeated over and over again, but I understand what Gold is on many more levels than just for speculation purposes, and I can tell anyone here that it can be mined for a lot less than it is being claimed, and that it certainly will drop to below $1000 and output will still increase or stagnate due to demand and not due to operational costs.
Officer ... I swear to drunk I am not God
O yea big shot I'm not talking from news I'm actually talking from experience as I happen to contract out of a gold mine (hint the most productive mine in AUST)!

You have permits where the wages are absolutely nothing and you really are scraping out of the bottom of the barrel with your low grade ore @ 2g a tone man I bet you don't even have permits but just dig out of tailing's by the sound of it by your self I bet to or with a few slaves you pay pittance too that go home after 18hr's a day of work and still can't afford to put a decent meal on the table

Where I'm from we take home 2k a week and yes that's after tax and I done pretty much every task in a mine from production to mills to smelters to refinery so I know what I'm talking about nob!

Yea you can produce gold for less $300 an ounce with poor condition,crude methods and a AK47 at your back!

There's a very big difference from panning gold than digging it out of the ground a km below the surface or open cut with clean condition's

And by the way there's a lot more to it than just extracting it and smelting it NOB
  •  Guest
  • | IP XX.XXX.72.28
It is fine to own physical gold rather than paper gold, futures or any other kind that is subject to manipulation in the same way as fiat currencies. However, fiat currencies are also subject to that kind of manipulation where that the crooks in government can then pass an UNJUST law to make any ownership of physical gold ILLEGAL and so subject to confiscation or, in these days, more likely a compulsory purchase order at a price that is virtual if not actual piracy. Years ago the US and Fed tested and got away with this plunder of their gold owning populace. So I expect that sooner or later that law will used once again when or if gold is allowed to be remonetised at a large profit for all those bankers who currently prefer their ability to manipulate fiat currencies.
Quoting boon2
O yea big shot I'm not talking from news I'm actually talking from experience as I happen to contract out of a gold mine (hint the most productive mine in AUST)!

You have permits where the wages are absolutely nothing and you really are scraping out of the bottom of the barrel with your low grade ore @ 2g a tone man I bet you don't even have permits but just dig out of tailing's by the sound of it by your self I bet to or with a few slaves you pay pittance too that go home after 18hr's a day of work and still can't afford to put a decent meal...
Not going to waste any effort on you , keep longing gold all you want ,but don't attempt to lecture me on gold mining,because I know for a fact that you have no clue whatsoever how gold ore is processed.
Also when you go calling people nobs and what nots , for simply expressing their views, suggests that you are either an immature teenager or an adult with an immature teenagers brain, and most definitely resentful about something not going your way, let me guess been longing since 1800s? Keep Zerohedging my man ,the market does need people like you about.

And yes there is more to it than just extracting and smelting, there is the prospecting side of it, which is the entry level for anyone individual or corporation, and no one prospects by digging a km down ,hence why its mostly collecting geological samples and mini scale sludge dredging and stamp milling for me right now, but the costs of an established mine with all the infrastructure in place even @ 2g per tonne (definitely not worth my while) will cost roughly $300 unless their CEOs have some very expensive habbits.
Officer ... I swear to drunk I am not God
Watched Gold mining on a channel, maybe it's NG or History. They cleared out a big area, thousands of km square. Make a road for the trucks (they don't use railways). The road was on a hill, sandy, stony, just enough for the trucks and very dangerous.Then they dig their Gold.

Interesting was they used a camera to detect driver eye blink to determine if they were sleepy. If a driver blinked his eyes often, or a blink lasted more than some milliseconds, then they removed the driver, since he was sleepy or has a lot of drinks.

This prevents accidents of the trucks that happened before.

The Gold was transported from the field, processed, and purified. It is a long and very dangerous process from the beginning, that sometimes claims lives.

I doubt the statement made by Fidza: "Gold is actually a very easy metal to extract from ore." Maybe he should try. I won't.
Quoting frx_trader
"Gold is actually a very easy metal to extract from ore." Maybe he should try. I won't.
Already am working on it, been at it for 15 years, and what has held me back is the last 5 years of ridiculously high prices, forcing Governments to halt any new developments due to environmental concerns , just as I have prospected for copperin Zambia, which is a lot more laborious and difficult to produce than Gold , so there is no shortage of hands on experience, you did just what you said you did...watched TV and assume you know it all.
Officer ... I swear to drunk I am not God
Quoting Fidza
Not going to waste any effort on you , keep longing gold all you want ,but don't attempt to lecture me on gold mining,because I know for a fact that you have no clue whatsoever how gold ore is processed.
Also when you go calling people nobs and what nots , for simply expressing their views, suggests that you are either an immature teenager or an adult with an immature teenagers brain, and most definitely resentful about something not going your way, let me guess been longing since 1800s? Keep Zerohedging my man ,the market does need people like...
No I not need to waist my time on a wana be gold miner and if you READ my 1st post you would know I have no positions until $1112 get hit!

I bet you don't even have any permit's because if you did you wouldn't have time to screw around on some forum giving your ill informed information about how your going to pan for gold in South Africa, Zimbabwe ,Brazil and Guyana man you make me laugh fool!

When you get a mining permit then you may have to know how to get gold other than panning but your year's away and millions of $$$$$$ from that!

O and by the way I don't only know how gold is produced but also manganese,lead,zink,copper,uranium and silver NOB

Go pull the other one with someone that doesn't know what there talking about as they might believe you wanna be gold miner LOL
You're going to mine for gold on an industrial scale? You must have considerable backers with very deep pockets and their contacts, politically, must be impeccable.



Quoting Fidza
Not going to waste any effort on you , keep longing gold all you want ,but don't attempt to lecture me on gold mining,because I know for a fact that you have no clue whatsoever how gold ore is processed.
Also when you go calling people nobs and what nots , for simply expressing their views, suggests that you are either an immature teenager or an adult with an immature teenagers brain, and most definitely resentful about something not going your way, let me guess been longing since 1800s? Keep Zerohedging my man ,the market does need people like...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Fidza
Already am working on it, been at it for 15 years, and what has held me back is the last 5 years of ridiculously high prices, forcing Governments to halt any new developments due to environmental concerns , just as I have prospected for copperin Zambia, which is a lot more laborious and difficult to produce than Gold , so there is no shortage of hands on experience, you did just what you said you did...watched TV and assume you know it all.
Man I just seen this post and how funny is that this just goes to prove how little you really know but let me give you a little tip nob

Not always but 99% of the time where there is copper there is gold and gold is a by product of copper in production!

In the refinery process 99.9% copper is made before any gold is refined as GOLD IS HEAVER THAN COPPER therefore gold and silver is right @ the end of the process

So tell me nob how can copper be harder to produce than gold?

ROFL you really have no clue do you nob!
Quoting boon2
No I not need to waist my time on a wana be gold miner and if you READ my 1st post you would know I have no positions until $1112 get hit!

I bet you don't even have any permit's because if you did you wouldn't have time to screw around on some forum giving your ill informed information about how your going to pan for gold in South Africa, Zimbabwe ,Brazil and Guyana man you make me laugh fool!

When you get a mining permit then you may have to know how to get gold other than panning but your year's away and millions of $$$$$$ from that!

O...
Gold is a byproduct of copper???
Keep writing BS, you are only reinforcing that you do not know what you are talking about .I particularly enjoy when someone can not hold his own argument, without verbally insulting someone else, strengthens your case in your twisted little keyboard warrior brain , but has a very satisfying effect on someone who has put forward a very simple but valid argument that it costs a lot less to mine Gold than Gold miners are letting on (naturally who would not want higher profits?) based on personal experience, I already know that your very limited mind will say if you are a Gold miner wannabe in some Banana Republic surely you should want higher prices, I do not and I will leave you to get some very much needed brain stimulation and figure that one all by yourself. Its my last response to you, unless ofcorse you are capable of putting up an argument without any insults, I will be more than happy to teach you a thing or 2 young one.
Officer ... I swear to drunk I am not God
High prices held ya back nob LOL
Quoting Fidza
Keep writing BS, you are only reinforcing that you do not know what you are talking about .I particularly enjoy when someone can not hold his own argument, without verbally insulting someone else, strengthens your case in your twisted little keyboard warrior brain , but has a very satisfying effect on someone who has put forward a very simple but valid argument that it costs a lot less to mine Gold than Gold miners are letting on (naturally who would not want higher profits?) based on personal experience, I already know that your very limited mind...
I don't know about mining process of gold. Is it similar to production of soft drinks whose production cost is 10% of selling price?
Leaders don't do different things, but they do the same things differently.
Quoting Spreadbetter
You're going to mine for gold on an industrial scale? You must have considerable backers with very deep pockets and their contacts, politically, must be impeccable.
Hoping to get there , and yes no doubt I will need investment, but before that I need proof of worthy deposits and Government permission and most importantly a good business plan, pretty much how any other business investment starts off.
Officer ... I swear to drunk I am not God
Quoting Fidza
Keep writing BS, you are only reinforcing that you do not know what you are talking about .I particularly enjoy when someone can not hold his own argument, without verbally insulting someone else, strengthens your case in your twisted little keyboard warrior brain , but has a very satisfying effect on someone who has put forward a very simple but valid argument that it costs a lot less to mine Gold than Gold miners are letting on (naturally who would not want higher profits?) based on personal experience, I already know that your very limited mind...
LOL you can't teach me anything old one you really have no clue about gold or any other metal production cycle and I sure as shit wouldn't learn anything from your trading if it's as good as your gold production

Pan till your heart's content old one and I'm sure if you work for a $1 a day you will be able to hit your target of $300 an ounce to produce 99.9% gold bar's LOL

Maybe I can teach you a better way to mine and produce gold old one but I dough you could afford me ROFL
Quoting boon2
High prices held ya back nob LOL
Yes my dear one, for someone who works in mining you sure are letting out that you know little.

For starters the sheer amount of people jumping onto the panic gold rush, burdens the bureaucratic process for permits, then there is the environmental concern, mining equipment demand spikes as well so that goes up too, investors are weary of prices dropping so ,I have to work a business model with very low prices e.g. 300 and prove that it will be sustainable to present to these investors...
Do you want to learn more ?
Officer ... I swear to drunk I am not God
Fidza

Your energy here supposes a braggart in play, a closed mouth gathers no foot my friend.

Fact South Africa gold mines are mostly end-of-life concerns with low yielding ore located at great depth.

Both the mining method that must be employed and the union press gang of labour required to simply blast clean and hoist, drive production prices very high. Current estimates would place this at around USD 1000/ per production ounce.

This needs to accommodate process and smelting not to mention transport and a few other production costs. When you flavour the above with low labour commitment, strikes and a fair dose of unions fighting each other for members, its not a pretty picture for the mining industry. Note global mining stocks have sold down.... Even BHP

Gold is expensive to produce, it only has value when inflation is high (demand is low now, production is poor) the price will continue to fall till either:

A lack of supply drives the market price up or the global economy recovers to the point of inflation setting in as before 2008...

Do try and study a smidge before you post dramatic nonsense

PS Zimbabwe mine diamonds and platinum (not much gold at all) ask New Dawn why
Fair dues to you all. Points taken on herd mentality concerns, but I'll stick by mine, thank you very much.
Good luck in 2014 .
Officer ... I swear to drunk I am not God
Quoting vox dei
Whatever this guy is smoking, I want it lol
Don't be a pig. Save some for me
Those who say it cannot be done should not interrupt those who are doing it
Quoting Fidza
Gold is a byproduct of copper???
.
Yes it's pretty simple really where there's copper there's gold 99% of the time so they get ore out of the ground that goes threw mills then off to the smelter then to casting floor where they make the anodes then the anodes go to refinery, now anodes have a bit of everything in them (copper,lead,gold,silver depending whats in the ground right) as there not refined so copper is extracted from anodes to the cathodes producing 99.9% copper now the slurry gets washed out and that's where you get the gold and the silver so that then gets refined and it comes out as 99.9% gold in a nut shell!

That's what I mean by gold is a by product of copper in production as its @ the end of the line

I hope your can grasp all that old one LOL
Quoting Fidza
Yes my dear one, for someone who works in mining you sure are letting out that you know little.

For starters the sheer amount of people jumping onto the panic gold rush, burdens the bureaucratic process for permits, then there is the environmental concern, mining equipment demand spikes as well so that goes up too, investors are weary of prices dropping so ,I have to work a business model with very low prices e.g. 300 and prove that it will be sustainable to present to these investors...
Do you want to learn more ?
No thanks, I do recall in my 2nd post I don't know the cut off point in Africa but if I want to know more I'll ask someone else LOL
Quoting boon2
No thanks, I do recall in my 2nd post I don't know the cut off point in Africa but if I want to know more I'll ask someone else LOL
Good ,you are way too much work.
Officer ... I swear to drunk I am not God
Quoting Fidza
Good you are way too much work.
ROFL O come on I'm sure you know everything about gold, please share!

Anyway hope ya panning for gold pan's out for ya (no punt intended) LOL
Quoting JimmyC
Fidza

Your energy here supposes a braggart in play, a closed mouth gathers no foot my friend.
You are absolutely correct, just found myself with a bit of time on my hands and thought I would educate a broken record, turns out I learnt something myself, never argue with an idiot, they will drag you to their level, and then you will still lose cause they have far more experience .

I disagree with Zimbabwe not having much Gold, they have vast untapped Gold deposits that many argue can rival South Africa's , this should be exploited as soon as the Zanu PF (Mugabe's) regime is eventually dethroned, assuming someone with his political agenda does not take his place.
Officer ... I swear to drunk I am not God
So other than not having the backers, the multi millions in finance, the site, the connections, the experience, or the governmental/political nous you're ready to go? Out of all the ridiculous dreamers I've read on forums you're right up there on the delusional index.



Quoting Fidza
Hoping to get there , and yes no doubt I will need investment, but before that I need proof of worthy deposits and Government permission and most importantly a good business plan, pretty much how any other business investment starts off.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
So other than not having the backers, the multi millions in finance, the site, the connections, the experience, or the governmental/political nous you're ready to go? Out of all the ridiculous dreamers I've read on forums you're right up there on the delusional index.
Never stated I was ready to go. Furthermore , if you actually go over ever single post you have contributed to FF, its either cynical, sarcastic, or critical of an opinion, so thanks for the input,but you do realize deep down how absolutely useless it is right?
Officer ... I swear to drunk I am not God
Quoting Fidza
Never stated I was ready to go. Furthermore , if you actually go over ever single post you have contributed to FF, its either cynical, sarcastic, or critical of an opinion, so thanks for the input,but you do realize deep down how absolutely useless it is right?
"prospector licenses in South Africa, Zimbabwe ,Brazil and Guyana with intent to start a larger scale operation once prices stabilize"

Well price is stabilizing but you still need more than a prospectors permit, a mining permit wouldn't go astray LOL

Here's a tip stay out of gold production and stick to something you know ROFL
Well I'm fairly unique on FF on the basis that I deal in sound realities not dreams. Your 'ambitions' are quite frankly ridiculous and as another poster advised you'd be best to simply stfu and stop digging a bigger hole for yourself. It's as ridiculous as listening to a blurt on here suggesting they we're in a position to set up a challenger bank from a standing start, with nothing except a far fetched fantasy as underpinning.


Quoting Fidza
Never stated I was ready to go. Furthermore , if you actually go over ever single post you have contributed to FF, its either cynical, sarcastic, or critical of an opinion, so thanks for the input,but you do realize deep down how absolutely useless it is right?
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
Well I'm fairly unique on FF on the basis that I deal in sound realities not dreams. Your 'ambitions' are quite frankly ridiculous and as another poster advised you'd be best to simply stfu and stop digging a bigger hole for yourself. It's as ridiculous as listening to a blurt on here suggesting they we're in a position to set up a challenger bank from a standing start, with nothing except a far fetched fantasy as underpinning.
Bravo !I love your stuff keep telling them dreamers off ...and the rest of the world too whilst you are at it...oh wait!...
Officer ... I swear to drunk I am not God
Quoting Fidza
Bravo !I love your stuff keep telling them dreamers off ...and the rest of the world too whilst you are at it...oh wait!...
O now that's bloody favoritism quoting spreadbetter's post before mine!

Get it? mine ROFL
It's probably a good start that you recognise that you're an impossible dreamer. Your dreams are even more implausible than reading of an FX retail trader thinking he can take $200 to $200 million, it really is that unhinged and unhealthy. I'd wish you good luck with it, but I'd be acting disingenuously.

Quoting Fidza
Bravo !I love your stuff keep telling them dreamers off ...and the rest of the world too whilst you are at it...oh wait!...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting boon2
O now that's bloody favoritism quoting spreadbetter's post before mine!

Get it? mine ROFL
Oh you just feeling unloved now, I gave up on you ,and you still want attention. Ask nicely ,rather than licking someone elses ... hope you have a flashlight and a nose peg for where you are going .
Officer ... I swear to drunk I am not God
Quoting Spreadbetter
It's probably a good start that you recognise that you're an impossible dreamer. Your dreams are even more implausible than reading of an FX retail trader thinking he can take $200 to $200 million, it really is that unhinged and unhealthy. I'd wish you good luck with it, but I'd be acting disingenuously.
Thanks brother...for the good luck wish even with the acting.
Officer ... I swear to drunk I am not God
Quoting Fidza
Oh you just feeling unloved now, I gave up on you ,and you still want attention. Ask nicely ,rather than licking someone elses ... hope you have a flashlight and a nose peg for where you are going .
1st of all I don't lick anyone ass!

2nd of all I only give it, never take it so I'll pass the flashlight and nose peg back to you!
Quoting boon2
1st of all I don't lick anyone ass!

2nd of all I ONLY GIVE IT, never take it so I'll pass the flashlight and nose peg back to you!
YOU ONLY GIVE your arse, no need to come onto a forum that has nothing to do with this stuff and brag about it jeeeez!
Officer ... I swear to drunk I am not God
Quoting Fidza
Its ok to be gay and give your arse, no need to come onto a forum and brag about it jeez!
O come on no need to get personal my kid's might read this!
Quoting boon2
O come on no need to get personal my kid's might read this!
You mean daddy might mind you telling the world this kind of stuff? Rightfully so. On that note I will say thank you for the entertainment. Later.
Officer ... I swear to drunk I am not God
What now you bringing up my old man,you really should get your mind out of the gutter!

I only talk about my sex life on another forum's
Fidza for someone that's got all these prospecting licenses in all these different region's you sure do have a lot of time on your hands!

Wouldn't you be better spending time on reading up on how to produce gold for $300 an ounce?
Quoting PipTrapper
Don't be a pig. Save some for me
Oh, I would, but the guy isn't into sharing lol
"To hold, you must first open your hand. Let go." - Lao Tzu
Where / When it all began... the perfect trap.

http://www.forexfactory.com/showthread.php?t=435089
  •  Guest
  • | IP XXX.X.165.247
Textbook examples in this article. So what if new currencies come into existence? Bitcoin? If anyone can put up any correlation coefficients of bitcoin versus gold this would be great.
Textbook examples in this article. So what if new currencies come into existence? Bitcoin? If anyone can put up any correlation coefficients of bitcoin versus gold this would be great.
Quoting Mingary
Where / When it all began... the perfect trap.

http://www.forexfactory.com/showthread.php?t=435089

LOL a picture that has much more meaning and truth than a million words from ,in particular 2 very delusional individuals.
Officer ... I swear to drunk I am not God
Quoting Fidza
LOL a picture that has much more meaning and truth than a million words from ,in particular 2 very delusional individuals.
There's only one very delusional individual in this thread and that's the individual that say's they have all these prospecting licenses in all theses different regions!

It's clear from your post's you have no clue how to extract gold or refine it on large scale!

I bet you haven't even recover the cost of Your $10 prospecting licenses yet digging with ya pick and shovel or panning LOL!

If you did your research you would know the chances of recovering your cost's prospecting are very,very slim and is more of a hobby than making money!

Hell it can take year's just to recover the cost of the metal detector let alone fuel and wear and tear on your vehicle just to get to your stake!

I bet you couldn't even get your production cost's under $3000 an ounce let alone $300 an ounce ROFL
Quoting boon2
There's only one very delusional individual in this thread and that's the individual that say's they have all these prospecting licenses in all theses different regions!

It's clear from your post's you have no clue how to extract gold or refine it on large scale!

I bet you haven't even recover the cost of Your $10 prospecting licenses yet digging with ya pick and shovel or panning LOL!

If you did your research you would know the chances of recovering your cost's prospecting are very,very slim and is more of a hobby than making money!

Hell...
Whenever I read one of your posts in this thread, I am reminded of a saying that has proven over and over to be so true.

Here it is...

<b>"People too weak to follow their own dreams will always find a way to discourage yours"</b>

I'm not going to comment on the merit of your statements or of Fidza's because frankly I don't know the first thing about mining or processing gold, but I do know that your attitude towards those with whom you do not agree is akin to those of a troll. You may be 100% correct about your assertions, but you are dead wrong in your approach.

Those who say it cannot be done should not interrupt those who are doing it
Quoting Fidza
Gold is actually a very easy metal to extract from ore. Even very low grade ore at 2g per tonne of ore will not cost more than $300 to extract and smelt, on a small scale level it will cost significantly less. The biggest costs involved are NOT labor and fuel, fuel is usually subsidized and labor is very often replaced with technology in mines where labor costs are high (definitely not the case in the worlds largest producers such as South Africa).
Anyone with a half a brain knows the smaller the scale the higher the cost's that's why in down turn's only the big and strong survive but yet you say the total opposite ROFL

The world’s biggest gold miner, Barrick Gold Corp. pegged its all-in sustaining costs at $900 -$975/oz for 2013
http://www.ibtimes.com/gold-miners-face-high-hurdle-production-costs-top-spot-prices-many-1412778

And here you are saying "Even very low grade ore at 2g per tonne of ore will not cost more than $300 to extract and smelt" With a comment like that it's clear you only have the brain of a puppy!
Quoting PipTrapper
Whenever I read one of your posts in this thread, I am reminded of a saying that has proven over and over to be so true.

Here it is...

<b>"People too weak to follow their own dreams will always find a way to discourage yours"</b>


I'm not going to comment on the merit of your statements or of Fidza's because frankly I don't know the first thing about mining or processing gold, but I do know that your attitude towards those with whom you do not agree is akin to those of a troll. You may be 100% correct about your assertions, but you are dead...
Well when someone talk's total BS...... It's hard for me not to be a troll LOL

And someone with over 17k post's you really shouldn't throw stones when you live in a glass house!

O and I'm living my dream and it's served me well!
Quoting boon2
Well when someone talk's total BS...... It's hard for me not to be a troll LOL
Okay, please educate me then. If gold was trading at $400 per ounce 10 years ago (which it was), if today's mining companies are really bleeding cash while gold is trading at 3 times the price, what does that mean to you?

As far as I'm concerned looking at it from a logical POV (Not from first hand industry knowledge), here are the possible reasons in order of my preferences (What makes most sense to me).

1. Gold producers (or the banks trading their product) are involved in a conspiracy to keep the price of gold elevated through lies and deception with the help of the mainstream media.

2. Gold producers are today (Compared to 10 years ago) using more sophisticated and more expensive processes in order to extract and refine the gold at a much faster pace.

3. The gold producing industry has experienced a 200% cost inflation in fuel and manpower... or perhaps a 500% inflation in the salaries and bonuses paid to their top executives.

Which do you think it is?

By the way, if you have the time to read all my 17K posts you will quickly find that they are all related to contributing what I know in a respectful manner, or asking somebody to educate me on the stuff I don't know.
Those who say it cannot be done should not interrupt those who are doing it
Quoting PipTrapper
Okay, please educate me then. If gold was trading at $400 per ounce 10 years ago (which it was), if today's mining companies are really bleeding cash while gold is trading at 3 times the price, what does that mean to you?

As far as I'm concerned looking at it from a logical POV (Not from first hand industry knowledge), here are the possible reasons in order of my preferences (What makes most sense to me).

1. Gold producers (or the banks trading their product) are involved in a conspiracy to keep the price of gold elevated through lies and...
1. Gold producers (or the banks trading their product) or a combination thereof...is my ..not even have to guess...
Quoting TraderPablo
1. Gold producers (or the banks trading their product) or a combination thereof...is my ..not even have to guess...
Seems quite obvious, doesn't it?
Those who say it cannot be done should not interrupt those who are doing it
Games people/banks/Feds play.......just look at EUR/USD......quite astounding....
Quoting PipTrapper
Okay, please educate me then. If gold was trading at $400 per ounce 10 years ago (which it was), if today's mining companies are really bleeding cash while gold is trading at 3 times the price, what does that mean to you?

As far as I'm concerned looking at it from a logical POV (Not from first hand industry knowledge), here are the possible reasons in order of my preferences (What makes most sense to me).

1. Gold producers (or the banks trading their product) are involved in a conspiracy to keep the price of gold elevated through lies and...
It really doesn't mean anything to me as I get a wage with good conditions!

But in my humble opinion it's because we are chasing a rare commodity so the lower the grade the higher the cost becomes to produce and the cost to do business has increased so over time that price has to be passed on!

Of course speculators have caused the spikes!

And no the process hasn't changed over the last 10 years but the cost to do business certainly has and the most important thing is gold is a rare commodity and becomes harder to find therefore without price constantly rising
(no I'm not talking about large spikes) the feasibility of new projects coming on line decrease!
  •  Guest
  • | IP XX.XXX.41.240
Quoting Fidza
Yes my dear one, for someone who works in mining you sure are letting out that you know little.

For starters the sheer amount of people jumping onto the panic gold rush, burdens the bureaucratic process for permits, then there is the environmental concern, mining equipment demand spikes as well so that goes up too, investors are weary of prices dropping so ,I have to work a business model with very low prices e.g. 300 and prove that it will be sustainable to present to these investors...
Do you want to learn more ?
C'mon man you are making it too easy.

Panic gold rush? Try selling a gold eagle for 20 usd to an average American during 2011. They won't buy it.

Trust me , 2010/2011 was not the panic. Not even 1 million Americans own gold yet you think it was a retail bubble? It was a short squeeze on the institutional level, and we are about to have another one.
Quoting boon2
It really doesn't mean anything to me as I get a wage with good conditions!

But in my humble opinion it's because we are chasing a rare commodity so the lower the grade the higher the cost becomes to produce and the cost to do business has increased so over time that price has to be passed on!

Of course speculators have caused the spikes!

And no the process hasn't changed over the last 10 years but the cost to do business certainly has and the most important thing is gold is a rare commodity and becomes harder to find therefore without...
Thanks for your response. The part about it becoming more expensive to process due to lower grade ore makes sense, but I still believe there is a huge motive to deceive the public regarding the extraction/processing costs, and where there is a motive to deceive in the financial markets, there is always some level of deception. You don't need to look any further than all the jawboning against the prospects of a certain instrument just before it breaks to new highs (or vice versa).
Those who say it cannot be done should not interrupt those who are doing it
  •  Guest
  • | IP XX.XXX.41.240
If you have any technical skill whatsoever, you would know the metals are going to bottom between January and April 2014.

Do people even understand the concept of market cap? Do you realize that there has never been so little cash on the sidelines during anytime in history?

I mean gold shed 2 trillion in market cap in 2013 while the SPX gained 4 trillion or so.

All the crazy movements in the markets this year are based on BOJ speculation. The BOJ has effected gold and the SPX substantially. If the BOJ is going to provide liquidity, why own the yen? Mass selling of yen actually drove down gold too and caused a crazy rally in global equities, especially the Nikkei.
Quoting PipTrapper
Okay, please educate me then. If gold was trading at $400 per ounce 10 years ago (which it was), if today's mining companies are really bleeding cash while gold is trading at 3 times the price, what does that mean to you?.......
I think it is number 3. Particularly the part about "500% inflation in the salaries and bonuses paid to their top executives".

BTW 500% seems a little low....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
Quoting Exodus
I think it is number 3. Particularly the part about "500% inflation in the salaries and bonuses paid to their top executives".

BTW 500% seems a little low....
I think it is likely a combination of all 3 plus as boon stated, the lower grade of ore available today, which means that the actual raw production costs of a lean mining operation (without the high tech machinery and bloated executive salaries/bonuses) probably comes in under $500 per ounce.
Those who say it cannot be done should not interrupt those who are doing it
  • New Comment
  •  Guest
  • | IP XX.XX.14.85
Join FF
  • Story Stats
  • Posted: Dec 30, 2013 9:22pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 67  /  Views: 18,129