Wow; I can't believe you guys still bitching on gold. Before you throw in supply and demand theory in; at least, you should know how gold price is fixed. Google gold fixing and LBMA (London Bullion Market Association). They trade physical gold at around 20 millions ounces per day, and they treat it like currency; not commodities. LOL
What is the value of 1 Reales (old spanish currency) in today's times because...... In 1715 a fleet of eleven galleons carrying gold and silver, valued at almost fifty six million reales, was struck by a hurricane off the east coast of Florida near the mouth of the Saint Sebastian River not far from present day Cape Canaveral. The ships broke apart and sank off the coast between Melbourne and Stuart with their cargo scattered over the ocean floor. To date five of the wrecks have been located and much treasure from this fleet has been recovered from the ocean bottom What would be the value of 56 million Reales today (after 300 years)? http://xrgoldrate.com/Shipwrecks_Gold.html I will try and find information for "Indian ancient gold ship" and "golden bird (India)". But this is very difficult.
56 million reales = $688 million (in 1975) I think, now $688 million would be worth 10 times that of 1975. So the value of treaure from one ship alone comes to $7 billion (estimated) Now think of thousands of Sunken ships. Also think of undocumented/undiscovered "sunken ships"
Oh yay, fighting words. I love internet thugs. I would put you in the hospital with broken bones. If you're lucky I'll just knock you out. More than happy to sign a waiver and get in the ring, you game? Until then, STFU. I think your grandma is calling you, she needs her sponge bath. You better hurry up or she will kick you out of her basement.
Actually, they did find that, and that was the 50,000 coin haul I was talking about. The coins were selling at many times spot value because of their age and rarity, and sold for months on end on ebay. LOL, if they find more of them, I'd expect they'll do the same. It won't affect gold prices at all if they do.
Anaconda, you have not seen me. If I come in front of you, you will be scared to death. BE CAREFUL KID.
I think you missed my post. Anyway posting it again 56 million reales = $688 million (in 1975) I think, now $688 million would be worth 10 times that of 1975. So the value of treaure from one ship alone comes to $7 billion (estimated) Now think of thousands of Sunken ships. Also think of undocumented/undiscovered "sunken ships"
Be careful of what? Your fat, your nasty breath or your stench? You have not seen me and have no idea what kind of monsters I sparr & roll with. So take my advice. STFU, stop spamming your idiocy and go back whatever degenerate activities keep you occupied.