Gold Bugs only. Did you know?

[SBR_John]

If all the discovered & mined gold in the world was round up it would fit in 3(three)- 18 wheelers? Haven't calculated how many locomotives it would take to pull one. I would guess it may be two.

The current "hard cost" to mine an ounce of gold on average is in the mid $950 range.

On to the trade pit:
Yesterday Citi came out and said...(I'll paste it)
“We would rather be too early than too late in making this call.”

And with that, analysts at Citi moved their 12-month view on (gold) and the mining sector to bullish for the first time in three years.

Still think the downward momentum could carry us near book value(cost to extract). If I didn't already have a position I would nibble in this $1240 range. The strategy would be buy some now, be ready to buy at lower prices but not be left out if we have already put the lows in.

[Seaweed]

Thanks for the common knowledge

[SBR_John]

Thanks for the common knowledge

WeLLL did you know Old McDonald was a poor speller Mr Smarty???

[Deuce]

If all the discovered & mined gold in the world was round up it would fit in 3(three)- 18 wheelers? Haven't calculated how many locomotives it would take to pull one. I would guess it may be two.

The current "hard cost" to mine an ounce of gold on average is in the mid $950 range.

On to the trade pit:
Yesterday Citi came out and said...(I'll paste it)
“We would rather be too early than too late in making this call.”

And with that, analysts at Citi moved their 12-month view on (gold) and the mining sector to bullish for the first time in three years.

Still think the downward momentum could carry us near book value(cost to extract). If I didn't already have a position I would nibble in this $1240 range. The strategy would be buy some now, be ready to buy at lower prices but not be left out if we have already put the lows in.

DOT limits at 80k pounds.

1,280,000 oz would fit in a trailer making the grand total 3,840,000 oz total. Are we talking gross limited weight or no. Need fukkin details here.

Cause of that's true you're saying there is only just under 5 billion in gold worldwide?

[SBR_John]

DOT limits at 80k pounds.

1,280,000 oz would fit in a trailer making the grand total 3,840,000 oz total. Are we talking gross limited weight or no. Need fukkin details here.

Cause of that's true you're saying there is only just under 5 billion in gold worldwide?

I figured a little less than 8 billion. So that would be about a 60 foot cube. May take 3.5 or just throw the odd amount in the cab.

[iifold]

I figured a little less than 8 billion. So that would be about a 60 foot cube. May take 3.5 or just throw the odd amount in the cab.

Thanks for Pardoning Pabinator and then not letting him play poker What a dick move...

Nobody knows how much gold there is...

For the same reason you ban people like Pabinator just because he isn't on any of your sheets...

[no1here]

Actually there is way more gold then you believe. Gold is not only vital here but also for some other planets being not found there. The world's largest nugget has not been found nor largest mine/deposit.

Biggest and fastest profit is copper but found to be extremely heavy. Pennies on ebay including all years can be purchase half of their value and way below that. Spending $200 daily instantly returns me at least $600 or above daily. There is many hours involved though if not hoarding.

[SBR_John]

No shat?

You can buy pennys at half the value of the metal? Do you smelt them or what?

[5mike5]

Way more gold than that in the world. Actually those hypos aren't even close imo.

Of course we are all just guessing but interesting thought

[ChalkyDog]

All known gold.

[brooks85]

Actually there is way more gold then you believe. Gold is not only vital here but also for some other planets being not found there. The world's largest nugget has not been found nor largest mine/deposit.

Biggest and fastest profit is copper but found to be extremely heavy. Pennies on ebay including all years can be purchase half of their value and way below that. Spending $200 daily instantly returns me at least $600 or above daily. There is many hours involved though if not hoarding.

So who is buying your copper?

[Fishhead]

GOLD mirrors Iowa farmland

Expecting a 10-15% drop in farmland for 2014, hold off on gold buying until Halloween.

[BrentCrude]

A little secret,there is a company named Polymet Mining ''symbol PLM'' selling at just under a dollar a share that is getting approval to mine a huge claim in northern Minnesota that is one of the biggest gold reserves ever in the USA along with copper nickel and many other non ferrous metals.Some mining engineers in the know are saying it's got a bigger reserve than the old Homestake mine in Lead,South Dakota.

[PAULYPOKER]

GOLD mirrors Iowa farmland

Expecting a 10-15% drop in farmland for 2014, hold off on gold buying until Halloween.

Corn sales go boom?Lol........

[byronbb]

Heres a info-graphic that includes all the gold ever mined.

[chilidog]

I can believe it. Look at Parker Schnabel. Damn dude goes a whole season mining dat der gold, just to barely pay off his expenses. Don't really make it seem much worth now, does it?

[pavyracer]

If all the discovered & mined gold in the world was round up it would fit in 3(three)- 18 wheelers? Haven't calculated how many locomotives it would take to pull one. I would guess it may be two.

The current "hard cost" to mine an ounce of gold on average is in the mid $950 range.

On to the trade pit:
Yesterday Citi came out and said...(I'll paste it)
“We would rather be too early than too late in making this call.”

And with that, analysts at Citi moved their 12-month view on (gold) and the mining sector to bullish for the first time in three years.

Still think the downward momentum could carry us near book value(cost to extract). If I didn't already have a position I would nibble in this $1240 range. The strategy would be buy some now, be ready to buy at lower prices but not be left out if we have already put the lows in.

An 18 wheeler can only carry 80,000 lbs. A bar of gold weighs 27.4 pounds. You can only put 2919 bars of gold in an 18 wheeler even though there is more room.

The amount of all gold mined is 171,000 tons. So you will need 4,275 18 wheelers to move it and not just 3.

[benjy]

One of my fave sites has the marginal cost of gold at b/w $1,250 and $1,300 (incl. CAPEX).

Linkage: http://www.zerohedge.com/news/2013-1...oduction-costs

[benjy]

Great graphic byronbb. Thanks!

[SBR_John]

An 18 wheeler can only carry 80,000 lbs. A bar of gold weighs 27.4 pounds. You can only put 2919 bars of gold in an 18 wheeler even though there is more room.

The amount of all gold mined is 171,000 tons. So you will need 4,275 18 wheelers to move it and not just 3.

I didnt say you could move it it, in fact I said you would need a couple of locomotives for that. " Haven't calculated how many locomotives it would take to pull one. I would guess it may be two."

The point being there is not a lot of it. Up another $7 today btw.

[pavyracer]

The problem is not the 18 wheeler or the locomotive. The problem is the bridges. You can only have 16 tons per axle and 4 tons for the cab. So if you use a locomotive you will steel need to put the gold in 4725 railroad cars to spread the load out else if you put it all 171000 tons in 2 locomotives you will collapse the first bridge you try to go over.

Have you ever seen a locomotive pulling 4725 railroad cars or even half of them?