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Old 07-04-2013, 02:58 PM   #51 (permalink)
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Mining companies are currently inflating their costs in press releases. The mining companies fear an exit from metals because there is so much on the market that they will be operating with excess capacity. The average cost of gold extraction is NOT $1200 per ounce, but these companies want everyone to believe this so that it creates a false floor. Just ten years ago the average extraction cost was under $200. Gold remains abundant and costs have not gone up six fold in a decade.

I know fellow geologists in the mining industry, they fear a price plunge. Several left the oil exploration industry to ride the precious metal surge and slowly shifting back to oil and natural gas.

As the dollar strengthens my investments go overseas. My buying power is spiking.
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Old 07-04-2013, 05:22 PM   #52 (permalink)
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Mining companies are currently inflating their costs in press releases. The mining companies fear an exit from metals because there is so much on the market that they will be operating with excess capacity. The average cost of gold extraction is NOT $1200 per ounce, but these companies want everyone to believe this so that it creates a false floor. Just ten years ago the average extraction cost was under $200. Gold remains abundant and costs have not gone up six fold in a decade.

I know fellow geologists in the mining industry, they fear a price plunge. Several left the oil exploration industry to ride the precious metal surge and slowly shifting back to oil and natural gas.

As the dollar strengthens my investments go overseas. My buying power is spiking.
Interesting. This thread is actually productive. Thanks everyone for your input and keep it coming as i know im learning as well as others
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Old 07-04-2013, 05:31 PM   #53 (permalink)
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Mining companies are currently inflating their costs in press releases. The mining companies fear an exit from metals because there is so much on the market that they will be operating with excess capacity. The average cost of gold extraction is NOT $1200 per ounce, but these companies want everyone to believe this so that it creates a false floor. Just ten years ago the average extraction cost was under $200. Gold remains abundant and costs have not gone up six fold in a decade.

I know fellow geologists in the mining industry, they fear a price plunge. Several left the oil exploration industry to ride the precious metal surge and slowly shifting back to oil and natural gas.

As the dollar strengthens my investments go overseas. My buying power is spiking.

Sure, they might be but the reality is that many of them are laying people off to the tune of more than half of their work force. Something is causing that. If they were still making money while lying about the cost of production, why not retain people? A "false floor" is dually created by the mere basis that this "floor" is valued in currency that has no value, only perceived. Whether extraction costs are $20/oz or $2000 oz, the fact remains that we told Germany it's going to be 7 years before they can have THEIR gold back that is supposedly in the vaults under the Fed in NYC. If gold is so 'abundant' why will it take us seven years to procure Germany's gold that is, supposedly, already sitting in a vault?

I think the shortage of available gold is in the form of production ready gold. Such as, the blanks needed to mint the coins. There are slight delays now but, with mines slowing production due to high costs... it's going to be felt in the markets one way or the other. They may be bluffing on production costs and, in turn, will cause a shortage driving up demand/prices even more than necessary in the long run.

I don't know that anyone will ever pinpoint the cost of mining an oz. of gold/silver/platinum, etc. It's like a car. The company can tell you the cost of every component, right down to the thousandth. Ask what the total production cost of the vehicle is and, suddenly, no body has any idea.

The production costs of oil aren't high. The higher costs are more a result of trade restrictions, unnecessary controls and political forces. There is a reason all these countries want their gold back. I don't think their concern lies in what is it valued at, currently. They know that any revaluation after whoever decides to take that step of a gold backed currency is what will really matter.
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Old 07-04-2013, 06:11 PM   #54 (permalink)
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MY 2 cents-There are so many factors that contribute to the price of gold/silver. It is not a Sure bet market and id say it is a moderate to high risk investment. If you want silver or gold in your portfolio then buy it now and wait until next winter. Look at charts and diagrams that show the increase/decrease of gold over different seasons of the year. I think we will see a large jump in prices this winter. Oil consumption , gas prices, energy usage- all go UP in the winter time.
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Old 07-05-2013, 09:33 AM   #55 (permalink)
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It must be Friday, Silver back under $19. Looks like it's time for me to head to the bullion exchange after work today.
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Old 07-05-2013, 10:49 AM   #56 (permalink)
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It must be Friday, Silver back under $19. Looks like it's time for me to head to the bullion exchange after work today.
Tough to buy beer with silver. SMILE
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Old 07-05-2013, 10:50 AM   #57 (permalink)
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I see Gold flirting with 1K, but $750 by the end of 2014? Not a chance in hell.
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Old 07-05-2013, 10:37 PM   #58 (permalink)
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Tough to buy beer with silver. SMILE
Of course you can buy beer with silver...

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Old 07-06-2013, 09:57 PM   #59 (permalink)
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Of course you can buy beer with silver...

lol I like your thinking
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Old 07-09-2013, 01:43 AM   #60 (permalink)
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Gold 1100, Silver 15. If you buy gold buy Coins that also have Numismatic value not just bullion value.
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Old 07-09-2013, 12:54 PM   #61 (permalink)
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So why is everyone hoarding the actual metals? What is the appeal rather than buying some silver or gold stocks? Seems harder to hold and store the actual metals
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Old 07-10-2013, 12:41 AM   #62 (permalink)
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I tend to agree we will hover around 18-20 spot for awhile, but I do think 15 is on the horizon somewhere not to far down the road. I'm having trouble finding anyone willing to sell for spot at the moment, most shops are selling at about a $5 premium over spot, which isn't terrible, however they don't seem even the slightest bit interested in giving a discount for bulk buying and since they wont i'm not buying from them, I may kick myself down the road but i'm holding out for 15 spot then i'll pay the $5 overage for coins
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Old 07-10-2013, 08:31 AM   #63 (permalink)
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So why is everyone hoarding the actual metals? What is the appeal rather than buying some silver or gold stocks? Seems harder to hold and store the actual metals
From my gathering its because in a SHTF scenario the actual metal in hand is going to be worth more than a piece of paper. If everything crashes the dollar bill you would get from the paper is worthless as you will never be able to turn in the certificate for an actual piece of metal and the actual silver will be used for bartering. Atleast that is my gathering from it. But I am just starting so I have no clue!
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Old 07-10-2013, 10:44 AM   #64 (permalink)
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So why is everyone hoarding the actual metals? What is the appeal rather than buying some silver or gold stocks? Seems harder to hold and store the actual metals
Many reasons:

The metal is shiny (and collectable in a hobby sense)
The metal is tangible
I can sell the metal on the street to anyone with cash money (or a loaf of bread, gallon of milk, etc)
I don't buy individual gold/silver stocks (but I do own ETFs for both) and a simple power outage, server malfunction, lack of access to a computer (or the net) and I have nothing, at least temporarily. A short walk to my safe and I have purchasing power again.

You can think of it like a sealed box of cards. There is a value to that box based on the quality of the product, the players you may pull, etc. If you don't open the box the value still goes up and down (just like the stock of a metal co) and has a future value. The box can sit safely on the shelf and requires very little storage requirements. Once you open the box (or buy hard metal) you know exactly what you have and just like the hard metal it is harder to store. The good stuff needs a penny sleeve, top loader, one-touch, boxes to store them in, etc. But what is more fun to look at...the unopened box filled with hope and possibility on the shelf or that rookie patch/autograph card in your hand?
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Old 07-10-2013, 11:57 AM   #65 (permalink)
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Plain and simple.... I melt them down and make silver bullet.
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Old 07-10-2013, 08:25 PM   #66 (permalink)
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Is anyone buying right now? im finding deals here and their and im picking up everything from 1 coin to a stack
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Old 07-10-2013, 11:11 PM   #67 (permalink)
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Sadly, I can't buy until Monday, so of course prices start moving up today. I'm still holding out hope we get our regularly scheduled Friday smackdown.
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Old 07-11-2013, 06:29 PM   #68 (permalink)
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Sadly, I can't buy until Monday, so of course prices start moving up today. I'm still holding out hope we get our regularly scheduled Friday smackdown.
Nice jump in price today as well
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Old 07-12-2013, 02:37 PM   #69 (permalink)
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Is anyone buying right now? im finding deals here and their and im picking up everything from 1 coin to a stack
Been buying since 1450 and 23 like crazy. Not at all concerned about a little downside risk. My concern is not having enough the day the Chinese (or whoever) decide it's gold standard time again.

Comex registered inventories are down 2 million oz. in 6 months.
Brinks registered inventories are down 350k oz. since beginning of June.

Somebody is making darn sure they've got the physical metal in their vaults and not on the hook for the derivatives game.

India placed regulations on gold import and the people bought silver by the tons. China exports zero gold and retains all of what they mine, which is upwards of 400 tons a year.... on top of their massive buying over the last few years. They are hoarding as much gold as they possibly can. I doubt they're doing it for fun.
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Old 08-26-2013, 08:43 PM   #70 (permalink)
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so where is everyones thoughts on this subject now?
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Old 08-26-2013, 09:06 PM   #71 (permalink)
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I have followed a thread on a coin forum for the last few months. The person who started it is a Commodities trader. He still says Gold and Silver are in a Downward trend. It is a lot of stock market, commodities, wall street talk. Etf's paper bullion Vs in hand bullion. Stuff that i don't really understand. My gut Feeling is it goes up to 28-30 before the end of the year. I should of bought at 19 but i spend my money on CC morgans Proof Barber Dimes and other key dates. I might buy a few rolls of AE if it keeps going up.
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Old 08-26-2013, 09:45 PM   #72 (permalink)
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I stacked up a little bit at a hair under 19(actually every penny I had available). I've since moved about 1/3 of it just to get the big chunk of my money back. This kind of investing/trading is all new to me but I seem to be ALOT better at it than I am/was at cards. And to beat it all the coins are so freakin cool to look at. If I was going by my gut id say your assessment is spot on. around 30 by Christmas $$$$$$$$$
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Old 08-27-2013, 09:57 AM   #73 (permalink)
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I think it will go back down. Close to 20. Maybe a tad under. I have nothing to back my reasoning up with its just a feeling.
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Old 08-27-2013, 04:58 PM   #74 (permalink)
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I think it will go back down. Close to 20. Maybe a tad under. I have nothing to back my reasoning up with its just a feeling.
When do you think this will happen? Sooner or later?
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Old 08-27-2013, 06:33 PM   #75 (permalink)
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Metals are still climbing. Silver at $24.53 and gold at $1416.24 at the moment.

I think by the end of the year we will be looking at $30+ silver and $1550 gold.

Definitely having fun watching the ticker each day lately.
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