Prime Day for Gold

RocketDogRocketDog Posts: 621 Silver ✭✭✭✭
edited July 17 in Community Cafe
Yesterday was Amazon's Prime Day, with deeply discounted prices for Prime members, who could purchase almost anything from the comfort of wherever they happened to be. Today is Gold's Prime Day. With deeply discounted prices (lowest in a year) for GoldMoney members and anyone who has quick and easy access to purchase more of the metal online, from the comfort of their own chromebooks, ipads, smartphones and other devices. Silver is also on sale. I took part in both Amazon Prime Day and Gold Prime Day.

I have read some articles recently about Peak Gold. The idea is that large gold deposits have not been found in a few years. At least not at the rate that they were historically found. The article suggested that this was a good time to buy gold mining stocks. That does not make sense to me. The difficulty in finding/mining gold should cause mining expenses to go up and therefore profits to go down, at least until the gold price spikes due to lack of supply. What do you think?

I have also read recent articles suggesting that the real estate market is entering stage 2 of the bubble. Where prices are higher than the last bubble and holdouts begin to sell their houses to cash in at the top of the market. This increases supply, further dropping prices. Once we hit stage 3, where prices plummet, homeowners will start to be underwater again and could default. This could put banks in jeopardy. When banks are in trouble, it could be good for gold.

All speculation of course. Equally likely, the Anunnaki could return to earth and demand all of the gold that we have mined (unknowingly for them) and then we would all become fans of crypto or beads as currency.

Cheers, Goldmoney Community!

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