Sat, Nov 22, 2014, 10:44 PM EST - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Barrick Gold Corporation Message Board

  • chevymalibu1966 chevymalibu1966 Feb 14, 2013 8:49 AM Flag

    theoritical question

    Let's say that these miners are getting the cheap gold out of the ground just like cheap oil. what happens when the amount of gold actually drops? share price might drop due to earnngs dropping but won't gold skyrocket to say 5K an oz as supply is diminishing (and earnings actually go up due to higher cost of gold)???? Granted, once all gold is mined, the miners go to zero (hope I'm out by then) but what happens when it's harder to get gold out? price of gold should go up (as well as costs though to get it out so it might be a wash). Anyone have thoughts on this?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • In a mid-long run, gold certianly will go up a lot as good gold mines are depleting, this is why china and russia have been buying gold continuously.

      But for a short-mid time, a bunch of forces want to take gold down so that they can buy at cheap. U.S. Fed has likely leased their gold to some banks like GS, who have sold the gold and will have to buy it back and then return to Fed, so that Fed can let Germany to take its gold back.

      Chinese and Russia also hope gold go down so that they can accumulate at cheap.

 
ABX
12.85+0.02(+0.16%)Nov 21 4:00 PMEST

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Hexcel Corp.
NYSEFri, Nov 21, 2014 4:02 PM EST
XOMA Corporation
NasdaqGMFri, Nov 21, 2014 4:00 PM EST
NCR Corp.
NYSEFri, Nov 21, 2014 4:05 PM EST