RE:RE:RE:What is this pessimism I hear?fishcarrier wrote: ProudItalianDW wrote: fishcarrier wrote: 1. Next Monday will be a new month. No contracts to settle and gold shorting required.
2.The Toronto Conference and good news sooner rather than later.
3. There is scuttlebut about that banks will drop interest rates as soon as this weekend! That will drive gold up.
4. Bonds are so expensive and yields so low, that's not a good safe haven anymore.
5. Stocks are bound to rebound early next week, so no more need to sell gold for liquidity, rather to buy for balance.
6. Soon Chinese can meet face to face again, and buy and sell gold, helping POG.
Have you forgotten WM is sitting on MILLIONS of ounces of gold? Has to hit at least $1.50. Look at the charts on the WM website and reassure yourselves. Enjoy your weekend, do right, try to get decent sleeps. "All will be well."
Where did you get this "millions of ounces of gold" from? I haven't seen a resource report yet.
See contributor Jefedeoro's guesstimate on Feb. 5. He reckoned 65M ounces, then to be conservative he cut it in half: 32.5 million. Also Sprott has made some estimates in the past - maybe 6 to 8 weeks ago on Sprott news. See also Jefedeoro's post here on Jan. 30 and Feb. 6. Very interesting.
yes i saw it, its called napkin math.
it is in no way an accurate resource estimate as there needs to be alot more drilling than what he used.
i seriously doubt he has any kind of geology or resource estimation experience based on what was written.
And yes, i can say that because i know.