The GOLD scream room

[whatchamacallit]

Uganda says exploration results show it has 31 million tonnes of gold ore
https://www.mining.com/web/uganda-says- ... -gold-ore/

Story sounds suspicious.

Found this article from last year that says otherwise.

But the East African nation itself is not rich in resources. Much of this gold comes from neighboring countries, spirited across the border by shadowy smuggling networks. Uganda’s central bank estimated in 2019 that only about 10 percent of the gold flowing out of Uganda was actually mined in the country

https://www.worldpoliticsreview.com/art ... s-bustling

[barrett]

Uganda says exploration results show it has 31 million tonnes of gold ore
https://www.mining.com/web/uganda-says- ... -gold-ore/

Story sounds suspicious.

Agree with whatchamacallit that the story is probably way off in some way. Ugandan miners having found more gold that what currently exists (mined, above ground, etc.) doesn't pass the sniff test... along the lines of, "Did I say 320,158 tonnes? I meant 3.20158 tonnes. My bad!!"

[dualstow]

I haven’t watched it, but there’s a video on youtube called
Questions raised about quantity of Uganda’s gold exports
from June 10, 2022

Also, the story of the find hasn’t been picked up by a major paper.

[Jack Jones]

Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore.

Could be

My understanding of gold mining is that the extractability of gold varies. So they may be saying that if money was no object, they could extract that much. But how much is economically viable for extraction is another matter.

[whatchamacallit]

Just a big fish story?

https://www.monitor.co.ug/uganda/oped/c ... ld-3849986

[dualstow]

I’m kind of glad it’s turning out to be BS. I don’t want that amount of gold ore to be discovered. At least not all at once.

In other news, I just discovered 10 fifillion dollars worth of crypto on my desktop computer. And it’s for sale!

[whatchamacallit]

Some more on Uganda gold discovery.

https://youtu.be/wNSZ_VIHlWk

[dualstow]

Switzerland Imports Russian Gold for First Time Since War
More than 3 tons of gold was shipped to refining hub in May

https://www.bloomberg.com/news/articles ... e-invasion

[dualstow]

Recieved a “random year” sale krug in the mail which turned out to be a shiny 2022.
Still, I wouldn’t have ordered it if I had known so many surprise expenses would pop up this season. Joys of home ownership.

[Smith1776]

dualstow controls the global gold price?

[Xan]

dualstow controls the global gold price?

Wait, didn't we tell you?

[Smith1776]

That explains a lot.

[dualstow]

Enjoy the sale?

[dualstow]

The only snag is that it feels like the sale may extend beyond our lifetimes.

[mathjak107]

Falling asset prices may represent no sale …they are only worth what they are worth until worth more or less …

Since assets spend 80% of their time somewhere between the last low and last high that sale can still be buying at a high price

[johnnywitt]

I can see two things that are negatively impacting the GOLD Price: Bitcoin & the USD. A lot of Folks think that Bitcoin is Digital Gold (NOT) and the strong dollar is a well known historical headwind for the 'Barbarous Relic'.

[Kbg]

How many times do we get to say gold is up nicely today!?

There, it was said.

[Dieter]

How many times do we get to say gold is up nicely today!?

There, it was said.

More often than “LTTs are up nicely today”

[Dieter]

How many times do we get to say gold is up nicely today!?

There, it was said.

More often than “LTTs are up nicely today”



But, yes, nice to see

[Ugly_Bird]

How many times do we get to say gold is up nicely today!?

There, it was said.

I hope it is finally time to shine :-)

[dualstow]

Wow, when did gold creep up into the 1700s

[Kbg]

Wow, when did gold creep up into the 1700s

On the downside...bonds, stocks and gold are all moving in lock step. As of late we are getting zilch diversification.

Had to bring in some shade on the little ray of light I introduced. :-)

[Ugly_Bird]

Wow, when did gold creep up into the 1700s

On the downside...bonds, stocks and gold are all moving in lock step. As of late we are getting zilch diversification.

Had to bring in some shade on the little ray of light I introduced. :-)

Bonds still should go down if the feds keep bumping up the rates. And if other components stay the same or go up, there will be a chance to rebalance and buy more LTTs. I'm at 16.8% for those, pretty close to 15%. Probably sometimes before February?

[dualstow]

Wow, when did gold creep up into the 1700s

On the downside...bonds, stocks and gold are all moving in lock step. As of late we are getting zilch diversification.

Had to bring in some shade on the little ray of light I introduced. :-)

Yeah, over the past 12 years that I’ve been paying attention it is too often the case, it seems. Lockstep.

[dualstow]

1750. Lockstep