Jump to content
Nugget Shooter Forums

Gold & Silver Rising


Micro Nugget

Recommended Posts

The spot prices of gold and silver are really beginning to accelerate -- gold ascending past the $980 mark this morning and silver solidly above $15. Of particular note is the gold/silver ratio which in early trading this morning was at 62.53. That is the lowest I've seen in a while. A part of me says that what is going on is the beginning of the Obama legacy -- borrowing policies that ultimately will spell the death of the dollar, i.e., relative to other major world currencies. As the dollar's value erodes the price of precious metals tends to rise. Thus, within three to five years we may see the dollar fall in the neighborhood of 25% -- maybe even 50%. That could translate into gold trading in the $1250 to $1500 range, maybe even higher with silver boosting to near $20. I'm not selling mine any time soon. Noooo Sireee!

Link to comment
Share on other sites

http://www.usdebtclock.org/

Take a look at the link above.

1980 differed from today greatly.

China now holds a massive amount of our National Debt.

As do many other countries.

If they fear the dollar will fall, because of the deficit spendy joy ride the Obama admin is on.

They could start dumping dollars, or dollar demoninated treasury securities.

The bottom will drop out from under the dollar, if that happens.

I don't doubt gold prices could double, in the not far distant future.

Link to comment
Share on other sites

Gold is above $1000 this morning and the gold/silver ratio is nearing 60 to 1. I'm on my way to do a little nugget shooting and will be back at the end of the week. Be interesting to see if this is just a blip or the beginning of a sustained rise.

Link to comment
Share on other sites

For those following the commodities markets, note that the gold/silver ratio slipped below 60:1 in today's trading.

Might note also that silver, which earlier in the year was trading below $10 closed yesterday at $17 or a gain of 70%+, far superior to the movement in gold in 2009.

Also one might note that Obama has not been in office long enough to establish a legacy. What you are seeing is the response to the legacy of W[Worstpresidentever] and the neo-scam Republicans, the worst recession since Hoover and the Republicans.

Geez, I am seeing a pattern!

Link to comment
Share on other sites

Might note also that silver, which earlier in the year was trading below $10 closed yesterday at $17 or a gain of 70%+, far superior to the movement in gold in 2009.

Also one might note that Obama has not been in office long enough to establish a legacy. What you are seeing is the response to the legacy of W[Worstpresidentever] and the neo-scam Republicans, the worst recession since Hoover and the Republicans.

Geez, I am seeing a pattern!

\

I think if you work with facts instead of just opinion you will learn that good ol' Barney Frank is largely responsible for the credit collapse and a large part of the recession. He did that by passing a law requiring financial institutions to loan money ( mortgages ) to people who could not afford them.

Link to comment
Share on other sites

\

I think if you work with facts instead of just opinion you will learn that good ol' Barney Frank is largely responsible for the credit collapse and a large part of the recession. He did that by passing a law requiring financial institutions to loan money ( mortgages ) to people who could not afford them.

Amen, people either refuse to or do not realize that Democrats held the majority for the last 2.5 years of Bushes term. While he dd his damage too, the groundwork was laid out by the Majority. Barney, Harry and Nancy......the 3 stooges.

Link to comment
Share on other sites

\

I think if you work with facts instead of just opinion you will learn that good ol' Barney Frank is largely responsible for the credit collapse and a large part of the recession. He did that by passing a law requiring financial institutions to loan money ( mortgages ) to people who could not afford them.

Fact: W[Worstpresidentever] had the power of the veto. :laught16: :laught16: :laught16: :laught16: :laught16:

Link to comment
Share on other sites

One of the many new variables that has to be factored in is the 6.6 bil people alive today. Supply and demand based on an exploding population that wants the same standard of living as seen on TV changes the whole mess. 1980 China did not want the oil it does today. India didn't have the possibility of the economy it has today. We fueled the fire of demand now we have a fire storm that is global that we can't or should control. Our government has not got a clue on what to do. Even if they did , they couldn't agree to get together to piss on a fire in there own congress.

Hyper inflation will set in at some point in the future and oil and food more than gold will be the currency of choice. Gold is more a personal hedge which is fine but food stuffs like grain or the shortage will also come more into play.

Yea, it's a doomsday threat that might wait a generation or two and most here won't be around to see it, but a whole lot of folks will.

Hyper inflation also leads to wars(generally)and/ or collapse of nation states. If you think this is a bit over the top, look whats happened in the last 100 yrs

What's this got to do with the price of gold, nothing, but a Mc Donald's HB will cost $20,.... Oh it already does in Japan and several other cities around the world. :laught16:

We're screwed, we just have the paperwork yet :tisc-tisc: :laught16: :angry-smiley-010:

Link to comment
Share on other sites

Besides having saved a considerable amount of placer gold, I mined over the years.

The small stuff being refined & converted to 999 fine rounds & bars.

The larger nuggets held, because they have a collectors value well over spot gold prices.

I also put about 35% of my retirement funds into gold, back when the price was well under $300.

The return in value has been outstanding.

The other thing I did over a 30 some year span was find & acquire numerous large arms length authoritatively documented non-metallic industrial mineral deposits, with massive demonstrate reserves (silica sand, whiting grade limestone, bentonite clay, gypsum, diatomite, various building stone, etc), situated within reach of various end user market area’s.

All of which are locatable minerals, under the general mining laws.

The long term object being, as producing deposits DEPLETE, those with large well proven reserves next closest to market area‘s, will be developed & produce. That is the simple law of supply & demand.

Since having done that, 3 particular industrial mineral deposits I own have been developed, are now producing, and provide an income stream from royalties that will last 50 to 100 years.

As the years pass, others I own will do the same.

Which, my children & grandchildren will profit from.

Sort of a hedge fund, of raw deposits of commodities.

All of that was a challenge.

But, the kind I prefer & have the skills, as a mining engineer (retired) to do..

How often is it, you can do something you love (prospect) & profit from it.

Minerals that glitter, are not always gold.

Industrial minerals may be mundane, but modern society (as we know it) cannot get along without them

Link to comment
Share on other sites

  • 1 month later...

I started this thread about two months ago. It looks like today may very well be the day that gold breaks the $1100 mark. Foreign countries are quietly [and not so quietly] dumping their dollars, thus lowering the dollar's value relative to foreign currencies. The way in which this trend is being played out is significant. Dollars, held by foreign central banks, are being used to purchase large blocks of gold bullion. Thus, in addition to lowering the value of the dollar, there also is pressure being created on the supply side -- further propelling the spot price of gold. Let's see how far this will go once spot passes $1100.

Link to comment
Share on other sites

I started this thread about two months ago. It looks like today may very well be the day that gold breaks the $1100 mark. Foreign countries are quietly [and not so quietly] dumping their dollars, thus lowering the dollar's value relative to foreign currencies. The way in which this trend is being played out is significant. Dollars, held by foreign central banks, are being used to purchase large blocks of gold bullion. Thus, in addition to lowering the value of the dollar, there also is pressure being created on the supply side -- further propelling the spot price of gold. Let's see how far this will go once spot passes $1100.

In today's bidding it went over and touched $1100.16.

Given that gold has not kept up with the inflation (devaluation of the dollar) which has occurred since Reagan was pResident, we can easily expect to see gold reach that low $2k mark in the not so distant. A potential further in future is a high of $32k before finding a plateau in the high $2's.

The American Gold Standard is currently achievable through the exercise of private ownership and individual choice.

Link to comment
Share on other sites

Besides having saved a considerable amount of placer gold, I mined over the years.

The small stuff being refined & converted to 999 fine rounds & bars.

The larger nuggets held, because they have a collectors value well over spot gold prices.

I also put about 35% of my retirement funds into gold, back when the price was well under $300.

The return in value has been outstanding.

The other thing I did over a 30 some year span was find & acquire numerous large arms length authoritatively documented non-metallic industrial mineral deposits, with massive demonstrate reserves (silica sand, whiting grade limestone, bentonite clay, gypsum, diatomite, various building stone, etc), situated within reach of various end user market area’s.

<b>All of which are locatable minerals, under the general mining laws.</b>

The long term object being, as producing deposits DEPLETE, those with large well proven reserves next closest to market area‘s, will be developed & produce. That is the simple law of supply & demand.

Since having done that, 3 particular industrial mineral deposits I own have been developed, are now producing, and provide an income stream from royalties that will last 50 to 100 years.

As the years pass, others I own will do the same.

Which, my children & grandchildren will profit from.

Sort of a hedge fund, of raw deposits of commodities.

All of that was a challenge.

But, the kind I prefer & have the skills, as a mining engineer (retired) to do..

How often is it, you can do something you love (prospect) & profit from it.

<b>Minerals that glitter, are not always gold.

Industrial minerals may be mundane, but modern society (as we know it) cannot get along without them</b>

This is where it is at!

While prospecting for gold I came acros an old timer. He had a trailer mounted oven and bagging plant. He had gone looking for gold and found mica, which he started a one man operation making perlite for the many local greenhouses and nurseries. This was years ago but he did do well.

At about the same time, St. Cloud mining company, who had many silver and gold properties, figured out that their main waste product at their mine near Chloride was Zeolite. They had one of the largest operations in the state mining kitty litter (it is used for a bunch of stuff besides that, but a fortune in kitty litter was what it was).

Years ago may people here did well on flourspar when the T.V.'s had tubes. Then it was scheelite. Now it is just plain limestone and calcite for plaster and concrete, molybdenum, and of course copper and uranium.

Heck, in order to make more money on a gold mine than a screened gravel plant the material needs to be woth $20 a yard in metals. Otherwise it is worth almost that much just to screen it and haul gradiated aggregates.

Bob

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...