Just wait until CNBC begins talking about peak gold.
pmcollectour
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As of now gold has risen rather quickly, however, this is not the parabolic move that we can see in the future. Or, perhaps this is the beginning of the parabolic move that will take place over a few years. The GLD
has replaced the S&P as the largest traded fund on wall street as of 8/23. Needless to say, a lot of investors are flocking to gold.
But what is wall street going to do when there isn't enough gold to meet the demands of the GLD ?
The President of the largest gold mining and production company, Barrick Gold, noted that after ten years of declining production it is time to recognize that the world has seen the peak in gold production. Today production ore is being mined with increasingly less gold in it. (The grade of the ore, or metal content, defines whether it is profitable to mine.)
Ore grades have fallen from around 12 grams per tonne in 1950 to nearer 3 grams in the US, Canada, and Australia. South Africa's output has halved since peaking in 1970.
This is not peak oil folks, this is the real deal. What's going to happen to the availability of gold when it hits north of 3k an ounce ?
Who's going to sell when the charts tell us that the yellow metal just keeps on bringing happy returns ?
Will they just go out and print more gold ?
has replaced the S&P as the largest traded fund on wall street as of 8/23. Needless to say, a lot of investors are flocking to gold.
But what is wall street going to do when there isn't enough gold to meet the demands of the GLD ?
The President of the largest gold mining and production company, Barrick Gold, noted that after ten years of declining production it is time to recognize that the world has seen the peak in gold production. Today production ore is being mined with increasingly less gold in it. (The grade of the ore, or metal content, defines whether it is profitable to mine.)
Ore grades have fallen from around 12 grams per tonne in 1950 to nearer 3 grams in the US, Canada, and Australia. South Africa's output has halved since peaking in 1970.
This is not peak oil folks, this is the real deal. What's going to happen to the availability of gold when it hits north of 3k an ounce ?
Who's going to sell when the charts tell us that the yellow metal just keeps on bringing happy returns ?
Will they just go out and print more gold ?
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