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Hang on to your hats boys

Discussion in 'Off Topic' started by Just Jim, Nov 11, 2009.

  1. Just Jim

    Just Jim Well-Known Member

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    Barrick shuts hedge book as world gold supply runs out

    Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years may have further to run.

    "There is a strong case to be made that we are already at 'peak gold'," he told The Daily Telegraph at the RBC's annual gold conference in London.
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    Watch how high gold and silver run up if this is true.

    jj

    http://www.telegraph.co.uk/finance/...hedge-book-as-world-gold-supply-runs-out.html
     
  2. Spray-n-pray

    Spray-n-pray Battle Ground Moderator Staff Member

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    Forget gold. All of my PMs are wrapped up in copper jacketed lead!!
     
  3. Just Jim

    Just Jim Well-Known Member

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    This could be the start of the inflation everyone knows is going to happen. News gets out and there will be public panic buying of gold and silver. If the story is true.

    jj
     
  4. Just Jim

    Just Jim Well-Known Member

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  5. twoclones

    twoclones Tri-Cities, WA Well-Known Member

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    Precious metals market is an interesting thing. I worked for a silver/gold exploration company for about 18 months before they suddenly switched to cement grade limestone exploration. During the last year, quite a few precious metal exploration companies have gone under while we have been working hard to find limestone to sell to the Chinese.

    Could limestone be the new gold? ;)