Gold...$300?

[TOM4CWB]

C.P.;

In 1980 Gold made it to $850/ounce.

In 1978 it was about $200...

And we went off the gold standard... over 100 years ago!

I just want folks to think... that there is a greater chance that gold will go to $300... before it hits $2000/ounce...

Deflation has hit... here at least... they are not making any more land... yet it is falling in price!

As long as folks go into 2009... with wide open eyes... that is my job... it is not to pick tops or bottoms.

I don't own gold... long or short... so it really makes no material difference to me... other than to have you think twice about your gold bug!

I once had it to... C.P.... it is a disease that costs people big time... and is a greed disease that is hard to ignore... when it catches you!

[cottonpicken]

I've never invested in gold.(minus A coin)

But in order to understand the market,you have to understand "it".

And i know damn well sure that in 1980 i would have sold my gold for those fantastic 18% bond yields.

See the light yet?

[mustardman]

Cottonpicken I remember doing very well with gold stocks that I sold in 1980 after the Iraninan Crisis but the economic climate seemed much different then than now . However
I have been thinking of investing in gold again and was wondering if a guy should be buying gold stocks or actual gold ? Any info appreciated.

[cottonpicken]

Good question.

I've seen good arguements for both points,so i dont know.Maybe theres no wrong answer?

Personally i would take stocks because i enjoy doing it.

You could also find a good mutual fund company and use it as your rrsp tax deduction which is what i'll be doing here shortly.

5 years ago my banker said i was crazy and tried talking me out of my choices and buying the dow so i laughed at him and told him he was the one who was crazy.Guess i should go back to him and show him the 58% year over year gains and ask him how hes doing.

I find it really funny how some like classic liberal screams risk management,but really doesnt have the first clue as to whats going on,so in fact is in the riskiest position of all.

As far as particular stocks i like newmont for the best large cap,goldcorp for mid-tier and nova gold for small cap.

NIA
DYODD

[Fransisco]

There are some interesting facts on gold at the following article.

http://money.howstuffworks.com/question213.htm

"...the world produces a cube of gold that is about 4.3 meters (about 14 feet) on each side every year. In other words, all of the gold produced worldwide in one year could just about fit in the average person's living room!"

"This cube weighs 1,555,210 kilograms (3,110,420 pounds). A recent spot price for gold was $256.10 U.S. -- using that number, all of the gold produced in a year is worth $12,805,000,000. That's a lot of money, but not an unimaginable amount. For example, that's about how much the Pentagon spent launching the GPS satellite system. NASA's budget in 1998 was $13.6 billion."

"Figuring out the total amount of gold that has been produced by man is a little harder."

"...Fifty million ounces * 200 years = 10 billion ounces. Ten billion ounces of gold would fit into a cube roughly 25 meters (about 82 feet) on a side. Consider that the Washington Monument measures 55 feet by 55 feet at its base and is 555 feet tall (17 x 17 x 170 m). That means that if you could somehow gather every scrap of gold that man has ever mined into one place, you could only build about one-third of the Washington Monument."

[parsley]

Gold up today makes my pocket heavier. I have gold dust, too. Pure gold dust. Best part is I can wear the damn stuff. lol Pars

[cottonpicken]

Its even harder to figure out when you dont think.

If you think mine production today is around 50 million ounces and two hundred years ago it was 50 million ounces,you need need to go to the back of the bus because you are a retard.

[TOM4CWB]

C.P.;

"The average gold mining and extraction costs[when?] are $238 per troy ounce but these can vary widely depending on mining type and ore quality. In 2001, global mine production amounted to 2,604 tonnes, or 67% of total gold demand in that year. At the end of 2006, it was estimated that all the gold ever mined totaled 158,000 tonnes.[18]

At current consumption rates, the supply of gold is believed to last 45 years.[19]"

18 "World Gold Council". http://www.invest.gold.org/sites/en/why_gold/demand_and_supply/. Retrieved on 2008-07-04.
19 "How Long Will it Last?". New Scientist 194 (2605): 38–39. May 26, 2007. ISSN 4079 0262 4079.
http://en.wikipedia.org/wiki/Gold

[cottonpicken]

Which is why i mentioned goldcorp,check out their costs.