All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
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Sunday, July 31, 2011

Gold soars to record highs

Gold Hits Record High after the latest read on the economy came in weaker than expected. Insight on how one gold producer is posting profits, with Richard O'Brien, Newmont Mining president/CEO. "what i would say is what i said a while ago which is i think $1600 gold. i actually thought it might come next year but i think given some of the central government issues, not just here in the u.s. but around Europe, i think we're going to continue to see pressure on gold prices. i just remind all of your viewers that gold in nominal dollars actually from its high from many years ago, $800 would be over $2200. so while we talk about a record high, it's important to know its record in nominal dollars. i do think we continue to see a trend up. i think we're headed to $17.50 next year. i would readjust my estimate and i think we will continue to see pressure on gold prices for many years to come," Richard O'Brien said






Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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