Gold and silver prices are down

[Trafficdiver]

Anyone seeing that a mine in China may have hit a 1000 tons or more of gold.

Geologists Uncover One of the Largest Gold Reserve Ever, Worth 78 Billion Euros

A hidden deposit, long buried beneath the earth, has just been uncovered, revealing an astonishing amount of gold. Experts are still piecing together the full scale of this discovery, but early estimates suggest its value is beyond expectation. The implications for the industry are only...

dailygalaxy.com

I would bet this is a cover story so China can explain where the extra gold they have came from. There are estimates that China has 20,000 more tons of gold than they are admitting to.

 

[richc]

I just inspected a 1 oz gold Krugerrand and I am sad to say that the $2900 version is no different from the $1800 version produced 2 years ago.

It is different, however. Its buying power is different...

 

[richc]

In January of 1980 gold hit a high of $850 or so. On an inflation adjusted basis that would be about $3250 today.

Will be interesting to see if we clear that level.

 

[Varmint]

Anyone seeing that a mine in China may have hit a 1000 tons or more of gold.

Geologists Uncover One of the Largest Gold Reserve Ever, Worth 78 Billion Euros

A hidden deposit, long buried beneath the earth, has just been uncovered, revealing an astonishing amount of gold. Experts are still piecing together the full scale of this discovery, but early estimates suggest its value is beyond expectation. The implications for the industry are only...

dailygalaxy.com

I saw that article but it was pure hype. 2000-3000m down is really deep, the ideal gold mine has the deposit at surface. So it may not be very economical.

 

[Varmint]

In January of 1980 gold hit a high of $850 or so. On an inflation adjusted basis that would be about $3250 today.

Will be interesting to see if we clear that level.

Is that real inflation or funny government inflation? I’d guess the latter.

 

[KBCraig]

In January of 1980 gold hit a high of $850 or so. On an inflation adjusted basis that would be about $3250 today.

Will be interesting to see if we clear that level.

I was a high school junior, and we had ordered our senior class rings in October 1979. The price of gold put a serious crunch and delay in delivery.