posted on Dec, 5 2009 @ 06:30 AM
reply to post by OBE1
Ok yes, thanks - sorry I actually couldn't bring up the OP's chart earlier as my connection went mind-numbingly slow for some reason; I had read all
the replies on here, and when I posted was thinking about the OP's post plus your levels at the same time.
Anyway, I agree about the mine-supply factor - it's been documented time and again output is on the wane, and all the good, easy-to-access supply is
It is only when prices are high that the harder to reach and process gold - which takes much longer to reach market, and hence less timely supply to
the market - is mined, because the high gold prices enable the mine to be profitable to access that grade ore.
All the easy stuff is gone, and supplies are dwindling.
30% down from here is a big call. But anything is possible, and it would present a monumental opportunity to load up, but I don't think it will be
quite that easy. At that level I would expect explosive upsides in price of the likes we have not seen before. If it gets to 850, in my opinion it
would not stay there very long at all, as gold is still in a long-term secular bull - and the fiat games being waged on an international level have as
much to do about gold as they do about currency supremacy.
It's going to be an interesting couple of weeks. I really have to do some thinking prior to Monday.
[edit on 5-12-2009 by cloudbreak]