OTCQX:DMMIF - Post by User
Post by
greeneggson Feb 26, 2009 10:57am
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Post# 15804989
70% of gold is used in jewlery, IPSO dumbos
70% of gold is used in jewlery, IPSO dumbosthese idiot gold bugs yapping about gold flying up into the thousands of dollars per oz are completley out of it, becasue the dominate end users, as in 70%, are buying a lot less jewelery as a) the price rises and b) the world economy goes into the toilet. ETF, gold bars, and industrial use is a mere 30%, and the ETF money can move in and out in the blink of an eye.
Gold in the 850 range is fine for our purposes.
Government mining agreement is all important, the price of gold isn't.