• Please review our updated Terms and Rules here

Gold prices are falling

D

dan951

Experienced Member
Joined
Sep 6, 2011
Messages
85
Location
Lansing, MI
Anyone notice that gold prices are falling big time!? Maybe these people who are melting CPU's will stop since it won't be as profitable as it once was?
 
It doesn't look really dramatic - unless one is a stock enthusiast, in which case the whole world is dramatic. I does look like it's going down enough that it might discourage the CPU melters though. And that's good news.

In my neighbourhood, there's a lot of gold mining and active claims. The hoarders won't be happy and nor will the ones with investment in machinery.
 
It's down 25‰ from its high about one year ago. That is certainly not enough to discourage anything. :) CPUs were being melted for their gold for many years before it peaked last year. They were even in demand 7 years ago when gold was half the price it is today.
 
All it is doing is making some people hoard the chips hoping they go up in value again and making some e-waste buyers go bankrupt. Scrappers are still going after ewaste because there is much more money in it then aluminum and steel, takes up less space as well. While gold is down it is still way above what it was 5 years ago and the smelters have been around when gold was $400 an ounce.
 
Stone said:
It's down 25‰ from its high about one year ago. That is certainly not enough to discourage anything. :) CPUs were being melted for their gold for many years before it peaked last year. They were even in demand 7 years ago when gold was half the price it is today.
Click to expand...

I basically agree with you, but if one's profit margin is 25% then it does make a difference. :) What is the margin anyway?

Of course people with gold fever see the world differently anyway, so perhaps I am wrong in even applying logic to the situation. As for the actual gold miners here - the old saying is that "every dollar's worth you take out, costs a dollar". That hasn't stopped a lot of people though - and, despite logic, people still buy lottery tickets too.
 
Part of the natural economic cycle... world economy is generally looking up, so investors are moving out of gold.
 
Ole Juul said:
Why is that?
Click to expand...

because less buildings will get stripped just after construction by drug addicted bums.
Any i don't rarely use the term Bums in that context.

As for the scrappers and gold, there is more money to be had in a pile of old catalytic converters if the insides are there, plus there is so much steel and aluminun in the world, that even if gold tanks, the scrappers will still be in business.
 
You must log in or register to reply here.
Back
Top