quote:
Originally posted by SchoolsOut1
It used to be a price setting tool for people that actually bought/sold the metals…now, it’s just a paper playground with very little metal passing through it compared to the grand scheme of things…
The only way to gauge whether it is truly rigged is to add up all Au futures and compare to World reserves. If the futures are less than reserves, then there is enough future production to satisfy the contracts. Given; this is a macro litmus test, there will be instances where a particular mine may oversell based on estimated mine production cost, but it really depends on the price of the commodity. Reserves go up, when prices goes up… It is the basic principle of a resource pyramid… If there wasn’t futures, there probably wouldn’t be a commodity market as the production costs would be too speculative for banks to finance…
RBF
quote:
Originally posted by mcvlbound
The opening of the Shanghai Gold Exchange should be a good test of your theory.
The SGE has been delivering a good bit of metal already…in many months, more than global production. Gold is flowing from West to East…
quote:
Originally posted by SchoolsOut1
quote:
Originally posted by mcvlbound
The opening of the Shanghai Gold Exchange should be a good test of your theory.
The SGE has been delivering a good bit of metal already…in many months, more than global production. Gold is flowing from West to East…
Is this “paper” Au, or physical Au?
RBF
$VIX at 12.75. When it is that low, usually it is a pretty good contrarian indicator that a sell off is coming soon.
Pioneer 222 Sportfish
Yamaha 250
quote:
Originally posted by Geronimo
So, did anyone learn from this exchange and buy into any gold mining stocks a couple of months back? MUX that Schoolsout pointed out has been a home run, and my mutual fund that I doubled down on in February included that along with ABX and GOLD. It’s up 57% ytd.
“Wailord”
1979 17’ Montauk
90 Johnson
Wilderness Ride 115
MUX closed at $2.95 today…long and strong!
Yes, it’s been a slow but steady gainer. Pays more than a CD anyway. On the other hand my firearms and ammo stock had a dismal week. Don’t know what happened there, it’s been doing great until the last 2 weeks.
Capt. Larry Teuton
Swamp Worshiper
If Hillary wins the election, your stock will go through the roof for a while Larry.
“Apathy is the Glove into Which Evil Slips It’s Hand”, but really, who cares?
Based on DF’s luck lately, I bought into Napa auto parts…
You down with GPC, yeah, you know me…
RBF
“Them that can brag without lying, let them brag.”
quote:
If Hillary wins the election, your stock will go through the roof for a while Larry.
That’s exactly what I’m thinking. Going to hold those until I see what the election does anyway. They have been strong gainers for the last 6 months, so I’m still in the +. Again, pays better than CD’s anyway and it’s fun to watch.
Capt. Larry Teuton
Swamp Worshiper
quote:
Originally posted by Cracker Larry
Yes, it’s been a slow but steady gainer. Pays more than a CD anyway. On the other hand my firearms and ammo stock had a dismal week. Don’t know what happened there, it’s been doing great until the last 2 weeks.
Capt. Larry Teuton
Swamp Worshiper
MUX up again today…let’s see if gold can manage to stay positive. Bitcoin being bought in Asia (and gold, too, I assume).
Yes, MUX is looking great today, and after the Orlando shooting all of my gun stocks have gone WAY up, almost 10% so far this morning. I’ve made $1000 this morning and haven’t even broke a sweat 
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Capt. Larry Teuton
Swamp Worshiper
quote:
Originally posted by Cracker Larry
I've made $1000 this morning and haven't even broke a sweat :smiley:
Capt. Larry Teuton
Swamp Worshiper
If only everyday could be like that!
Sold 1/4 of my MUX today at $3.30
I’m keeping mine for a while, it’s up 30% from where I bought it 4 months ago and still climbing.
Capt. Larry Teuton
Swamp Worshiper
quote:
Originally posted by Cracker Larry
I’m keeping mine for a while, it’s up 30% from where I bought it 4 months ago and still climbing.
Capt. Larry Teuton
Swamp Worshiper
I was expecting a pull back today before FOMC meeting, but MUX back above $3.30. My basis in it now is just a hair over $1…it is my main holding outside of my retirement accounts.
3.48 at the moment…oh my!
Yes sir, and I’m still grinning When you can get 10% ROI in one day, you just have to smile!
Capt. Larry Teuton
Swamp Worshiper
quote:
Originally posted by Cracker Larry
Yes sir, and I’m still grinning When you can get 10% ROI in one day, you just have to smile!
Capt. Larry Teuton
Swamp Worshiper
It’s an easy $5 stock, but I see $10 in next year or so
The Fed Reserve, as I have maintained for some time now, has control of nothing. How many years of promised rate hikes now? Couple that with the goings on in the COMEX regarding those standing for delivery and things might get quite interesting for the gold buggers!
It sure beats sanding boats for a living:smiley:
Capt. Larry Teuton
Swamp Worshiper
It’s probably got a good drop or two in it’s near future