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<blockquote data-quote="sl1000794" data-source="post: 272931" data-attributes="member: 6974">Couple of thoughts1.&nbsp; I always thought of precious metals as JUST a hedge against inflation, never something that will go up on price because of demand.&nbsp; The exception would be in the 70's when the Hunt brothers tried to corner the silver market and failed.&nbsp; In doing so the price of silver went up way beyond it's actual value and some people made money.&nbsp; When the failure happened many more people lost their @$$3$!2.&nbsp; When we drive between San Jose and Metigoshe we stay one night in Elko, Nv.&nbsp; There has always been a lot of equipment and workmen whenever we were there ... which we were last night (Friday.)&nbsp; I asked the gal behind the desk at the motel what kind of work most of these guys were doing.&nbsp; She said (and I quote) &quot;Elko is the center of gold mining in the state of Nevada.&quot;&nbsp; Kind of a coincidence I think.&nbsp; I googled &quot;Nevada gold mining&quot; and found this:In 2017 Nevada produced 5,641,538 troy ounces (175,470 kg) of gold worth $7.052 billion, representing 71% of gold produced in the United States and 5.6% of the world's production.</blockquote>

[QUOTE="sl1000794, post: 272931, member: 6974"] Couple of thoughts 1. I always thought of precious metals as JUST a hedge against inflation, never something that will go up on price because of demand. The exception would be in the 70's when the Hunt brothers tried to corner the silver market and failed. In doing so the price of silver went up way beyond it's actual value and some people made money. When the failure happened many more people lost their @$$3$! 2. When we drive between San Jose and Metigoshe we stay one night in Elko, Nv. There has always been a lot of equipment and workmen whenever we were there ... which we were last night (Friday.) I asked the gal behind the desk at the motel what kind of work most of these guys were doing. She said (and I quote) "Elko is the center of gold mining in the state of Nevada." Kind of a coincidence I think. I googled "Nevada gold mining" and found this: In 2017 Nevada produced 5,641,538 troy ounces (175,470 kg) of gold worth $7.052 billion, representing 71% of gold produced in the United States and 5.6% of the world's production. [/QUOTE]

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