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Price of gold has tanked

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7 hours ago, grubstake said:

Gold has gone down alot since Biden got in, so whats  behind it? Grubstake


Hedge fund and bank Shenanigans. Pure and simple.

A GrandSlam at Denny's used to be 4.99. ...that was awhile ago, er. Now its $10.

Calizuelian Gas was 2.70. Now$3.50.

:old:Keepyer gold hid. Stash eet een witcher oder bootee.

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44 minutes ago, Stillweaver hillbelli said:


:old:Keepyer gold hid. Stash eet een witcher oder bootee.

if your bootee has an oder you might wash up a bit before you stuff your gold in there.

Should have sold when gold was high. It will never be that high for many years to come. And it will only be more difficult to sell placer gold for a good price as time goes by.

Oil is headed up and gold is headed down. At least for the foreseeable future.

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A little over $2000 was way too high.

Years at around $1200 and in started its climb in 2019 to it its high of a little over $2000 in 2020, to a decline.  I think at $1700 now, we’ll see an inflation adjusted price of around $1500.

I guess inflation has been retry low at less than 2%, unless you need to live somewhere, eat, or drive a car, than those items have went up.

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Yep, I can remember $35.00 an OZ too, but was not gold mining back then, I was over in Monterey, getting my self ready to go in the army, in 66, But after I got out in 73, I started dredging on weekends, in the Merced river, then went to work driving longhaul truck for 25 years, and then I went full time gold mining for a couple of years, sold lots of oz's for less than twohundred an oz, just to keep going. Grubstake


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(Kitco News) - The 10-year yield has climbed to 1.56% Friday morning, but can rise to as high as 1.7% before the Federal Reserve steps in to intervene, said Peter Hug, global trading director of Kitco Metals.

"At 1.5%, 1.6%, [the 10-year yield] is basically where it was just pre-COVID. It look like we're going to start opening the economy in certain states. If it gets north of 1.75%, I think [Fed Chair Jerome Powell] is going to change his tune. He may create something within the Fed's toolbox to cap those rates," Hug said. "The last thing he needs right now is the 30-year to be north of 2%."

The relationship between nominal yields and commodities is tied by the U.S. dollar, Hug explained.

"What affects the movement in commodities is really the value of the dollar because commodities are priced in dollar terms. So if you have yields rising in the U.S. but not rising in Europe or the Far East, then the yield differentials between the two currencies create capital movements in the foreign exchange markets, which is a market that is 20 times the size of the metals markets," he said.

Hug noted that the U.S. dollar will still see weakness despite higher domestic yields relative to foreign yields, as monetary stimulus is going to create additional interest expense pressures for the U.S. government.

  • Hmmmmmm 1
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