# GRF - Gold Price Guessing Contest



## EDI Refining (May 3, 2010)

Here's the Rules

You must have 25 + posts to enter / Only US & Canadian members
You are to guess the USD Au price for Friday May 21. I will use Kitcos site, and use the london afternoon fix to determine a winner
Your Guess must be posted in this thread by Friday May 7th 12pm!

Winner will receive 1 - 1oz Canadian Maple Leaf Silver Coin shipped. 
Supplied by Noxx and myself


Good luck guys

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silversaddle1 - $1134.20
gustavus - $1148
Lazersteve - $1148.99
platdigger - $1151.20
P3M - $1172.50
pinman - $1182.16
gst42know - $1185.25
HTPatch - $1187.01
goldenchild - $1190
Lou - $1191.20
Noxx - $1200
Harold_V - $1202.67
Barren Realms 007 - $1210.15
rfd298 - $1211.10
Shyknee - $1221.80
Platinum - $1251.12
GSP - $1257.18
Oz - $1260
MiltonFu - $1317
Irons - $2350


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## shyknee (May 3, 2010)

my guess is 1221.80 U.S. dollars


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## Barren Realms 007 (May 3, 2010)

$1210.15


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## silversaddle1 (May 3, 2010)

my guess $1134.20


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## martyn111 (May 3, 2010)

Why the restriction on location of the entry? I would propose that entry can be made by anyone but if they aren't Canadian or US Citizens then a contribution to the shipping could be made by the winner.
My estimate if it could be accepted, as I'm in the UK, would be $1178.60 us,


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## Barren Realms 007 (May 3, 2010)

martyn111 said:


> Why the restriction on location of the entry? I would propose that entry can be made by anyone but if they aren't Canadian or US Citizens then a contribution to the shipping could be made by the winner.
> My estimate if it could be accepted, as I'm in the UK, would be $1178.60 us,



His game, his rules. 8)


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## Anonymous (May 3, 2010)

martyn111 said:


> Why the restriction on location of the entry? I would propose that entry can be made by anyone but if they aren't Canadian or US Citizens then a contribution to the shipping could be made by the winner.
> My estimate if it could be accepted, as I'm in the UK, would be $1178.60 us,




If it's just a beef over shipping cost, heck I'll pay the difference anywhere in the world to have the ban lifted.

My guess $1148.00 US,


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## Noxx (May 3, 2010)

P3M said:


> Supplied by Noxx and myself



What!? :shock: 

I never agreed to this ! Now I know where all the gold I send you goes...


Lol just kidding...


I'd say $1200US (I was born optimistic)


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## qst42know (May 3, 2010)

I'll say $1185.25


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## EDI Refining (May 3, 2010)

$1172.50


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## goldsilverpro (May 3, 2010)

I say $1257.18

shyknee,

Have you ever looked in the mirror and realized how pushy you are? How many times have you brought this up? People have had good luck buying DMG here, for cheap.
http://www.goldrefiningforum.com/phpBB3/viewtopic.php?f=48&t=6777&p=61370&hilit=dmg#p61370


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## shyknee (May 3, 2010)

sorry GSP
i didn't realize that is how i came across  i deleted the request


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## goldsilverpro (May 3, 2010)

shyknee,

I really do apologize for getting on you.

I guess that, after being on here for so long, certain things just tend to drive me nuts. A main annoyance for me is repetition. When someone repeats the same thing, over and over and over and over, the steam just builds up in the top of my brain and I tend to explode. Please note that almost everything on the forum is read by most all people that are participants, You only have to mention something once.


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## Platinum (May 3, 2010)

$1,251.12


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## Palladium (May 3, 2010)

$1225.55
:twisted: :twisted: :twisted:


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## Harold_V (May 4, 2010)

Damn you Ralph, no fair using all of your presences----- :lol: 

You guys don't have a chance. I'm going on record, right now, with a prediction of $1,202 67, and I'm sticking with it. Might just as well send me the metal now. 

Harold


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## Harold_V (May 4, 2010)

goldsilverpro said:


> I guess that, after being on here for so long, certain things just tend to drive me nuts. A main annoyance for me is repetition. When someone repeats the same thing, over and over and over and over, the steam just builds up in the top of my brain and I tend to explode. Please note that almost everything on the forum is read by most all people that are participants, You only have to mention something once.



Chuckle!

I'm going to be one hell of a lot more careful in not posting that picture of gold I love to put out there on occasion! :lol: 

This one, in fact :twisted: 

Harold


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## metatp (May 4, 2010)

My wife says $1187.01, and she is never wrong. She's a mom you know. If some how she is wrong, I will throw in a 10g of DMG (If I receive it by May 21st.)

Tom


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## EDI Refining (May 4, 2010)

Platinum, Palladium, Gold, Rhodium  aka Ralph - Which ONE guess do you want..


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## rfd298 (May 4, 2010)

$1211.10 just because.


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## Lou (May 4, 2010)

Hmm...

$1191.20

Maybe next month's contest I shall sponsor


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## Anonymous (May 4, 2010)

Gold already dropping, tied in with fossil fuel. OK what is the price of a barrel of oil going to be when this contest ends.

regards
Gill


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## Buzz (May 4, 2010)

$1208.35


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## goldenchild (May 4, 2010)

$1190.00


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## Oz (May 6, 2010)

$1260.00


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## Noxx (May 6, 2010)

Comeon Oz, that's too late now


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## EDI Refining (May 6, 2010)

Oz played it smart
Guessing ends tomorrow a Noon.

Dont worry Noxx, you know the market can do anything in 2weeks


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## Oz (May 6, 2010)

P3M said:


> Here's the Rules
> 
> You must have 25 + posts to enter / Only US & Canadian members
> You are to guess the USD Au price for Friday May 21. I will use Kitcos site, and use the london afternoon fix to determine a winner
> Your Guess must be posted in this thread by Friday May 7th 12pm!



I was unaware it was Friday. I am not very concerned about it but even when this was first posted there were serious tensions building in gold and it could go either way strongly.

The gold price is being determined by fear right now. It remains to be seen if liquidation to cover shorts while they can still be covered or fear of losing what one already has to sovereign default will carry the day. Mid to long range gold must go up as paper value is going down. Gold actually went up more than most people realize recently. It is a function of being priced in dollars. The dollar went up over 300 basis points this week and gold held its price plus some today. This is built in price demand when the dollar starts to correct once again to the down side. Even if I had the money I would not play the markets with gold right now short term, silver on the other hand would be very tempting.


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## Noxx (May 6, 2010)

I don't think that the gold price will stay at $1200 for very long.


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## Barren Realms 007 (May 6, 2010)

Noxx said:


> I don't think that the gold price will stay at $1200 for very long.



Let the stock market keep dropping and we shall see what happens.


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## goldsilverpro (May 6, 2010)

A true story which I have related before,

About 35 years ago, when I was about 35, I was the interim General Manager of a gold refinery in Hong Kong which, at the time, was the largest refinery in Asia. We had lunch, one day, with the manager of the largest gold trading company in Asia. I asked him what he thought the gold market was going to do. He said that there were only 2 real experts in the world concerning gold market movement. He said that one guy thought it would go up and the other guy thought it would go down. Infinite Chinese wisdom that has always stuck with me. 

Probably, half of us will guess high and the other half will guess low. In any case, none of us have any idea what it will do and any attempted reasoning to predict it is just plain unadulterated BS.


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## MiltonFu (May 6, 2010)

May 21st 2010.
Au : $1317.00 USD


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## pinman (May 7, 2010)

1182.16 is my guess


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## Oz (May 7, 2010)

goldsilverpro said:


> Probably, half of us will guess high and the other half will guess low. In any case, none of us have any idea what it will do and any attempted reasoning to predict it is just plain unadulterated BS.



Ah, but your price guess says otherwise. It shows “your belief” in currencies. Notice I said currencies, not money.


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## Platdigger (May 7, 2010)

1151.20


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## Irons (May 7, 2010)

$2350 US :mrgreen:


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## lazersteve (May 7, 2010)

$1148.99

Steve


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## EDI Refining (May 7, 2010)

CONTEST GUESSING IS NOW CLOSED - Winner to be Announced May 21st - Good Luck Guys


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## patnor1011 (May 7, 2010)

well my bad as I missed this one.
I agree that I am out but here is my shoot anyway 1280


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## butcher (May 8, 2010)

Ok now I see where Noxx got the gambling habit, running numbers on the gold market.


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## shyknee (May 8, 2010)

Irons knows something we don't ..I'm trying to figure out what is in his mind :?:


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## metatp (May 8, 2010)

patnor1011 said:


> well my bad as I missed this one.
> I agree that I am out but here is my shoot anyway 1280


If it hit that number, you should win. Maybe you will if you have lots of gold.


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## Irons (May 8, 2010)

shyknee said:


> Irons knows something we don't ..I'm trying to figure out what is in his mind :?:



:mrgreen:


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## shyknee (May 11, 2010)

come on baby allmost there


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## shyknee (May 11, 2010)

come on 1221.80 allmost there


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## goldsilverpro (May 11, 2010)

Hey Ralph,

Which one is your official guess, 1251.12 or 1225.55?


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## samuel-a (May 11, 2010)

even though i can't participate the contest (i live in the middle east, haven't i suffered enough? :mrgreen: lol)

i'll take a guess just for the fun of it
21/5 - 1218$


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## aflacglobal (May 11, 2010)

$ 1251


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## Oz (May 11, 2010)

shyknee said:


> come on 1221.80 allmost there



I think shyknee got a little excited and over shot his mark. Now he has the problem of if he wishes it to go back down to win, or stay up to increase the value of his gold recoveries.


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## shyknee (May 11, 2010)

let her go up up and away .
hey Oz I would like to see Irons WIN heck .if Irons wins I'll throw in another silver coin.  :mrgreen:


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## Oz (May 11, 2010)

You have to be careful what you wish for as a price hike like Irons guessed in such a short time frame comes with great economic hardship in nearly every other facet of daily life.


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## shyknee (May 11, 2010)

Oz .You are so wright .
sort of ,like now !


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## jimdoc (May 12, 2010)

I didn't even venture a guess, because it would be pure luck to win. I am much more worried about the oil prices staying low than what gold does. I would like to see oil get back to $60 a barrel and stay there.At least until we get the battery technology for electric cars to be feasible.
Jim


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## Oz (May 12, 2010)

There is a little more to it than “just” luck, but it is kinda funny you mention oil Jim. Oil going from close to $90 a barrel less than a week ago down to the $75 range while gold goes up at such a clip is telling. What is happening with gold IMHO is not just about the dollars strength affecting commodity prices, if it were, then gold would be down as well as the rest of the commodities (gold is the canary in the gold mine). No one expects great oil consumption through hard economic times. The most important thing for most to understand is that the fundamentals for gold have not changed drastically as to the available supply (silver is a different story). So it is not that the “value” of gold has changed much, but it is the value of the currencies it is priced in that have changed. This is more about potential sovereign debt defaults and paper money devaluations. 

Sad to say, a price jump like Irons predicted will indeed happen one day, but the question is when. They have kicked this can down the road longer than most thought possible. I have never seen a fiat currency in the history books that did not fail due to printing more money for government spending than the asset backing it or the economy supporting it. Just look at what most countries are doing as to printing money out of thin air and how the economies under them are doing today. 

Europe just announced close to 1 trillion dollars in support to save member countries from default, much of which is being paid for by quantitative easing (they print money from thin air to buy their own debt that no one else will buy). That 1 trillion only bought them a day in the markets, the world is waking up to the fact they have been played the fool.

Do not get me wrong, I am not saying things will fall apart in the next week (heck it could be years), but Irons could be right as to the timing of this eventuality. Just look at the DOW that lost 10% in 20 minutes last week, imagine that with fiat currencies but not stopping after just 20 minutes. Mind you there are producing companies with tangible assets behind those Dow stocks, what is behind those over printed pieces of paper we call money?

One way that Irons guess could be right in such a short time frame would be if the US declared a bank holiday and devalued the dollar by 50%, several countries have done just that in recent history (bet that would bump up our exports, a bonified half price sale). Imagine all the savings and retirement accounts loosing half their value and gas and most everything else costing double (imported goods would double in dollar cost almost overnight as well as gold). You can bet that wages will not change that dramatically. 

Well I almost did not post this as I went on a bit. If there is interest to members say so, if not I should shut my mouth. It is just my 2 cents, and these days that means it is only “worth” 1 cent.



As a postscript it is 05:48 Eastern time and gold is at $1242.00 on Kitco, so Europe has confirmed US markets pricing and added to it. To sum everything up in one word, this market is about "fear". Irons guess will come true if it becomes a panic.


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## shyknee (May 19, 2010)

Oz said:


> shyknee said:
> 
> 
> > come on 1221.80 allmost there
> ...




came back down  does this mean all is well on this little blue rock  
any way prices go up for weekends hopfully 8)


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## Irons (May 19, 2010)

At least I got people talking about the real problem.

:mrgreen:


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## Lou (May 19, 2010)

I'm a 1.20 off as of today. When's this contest end again?


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## Nopyrite (May 19, 2010)

Gold is under $1200. This is great news. ACCUMULATE, ACQUIRE, BEG, BORROW (DO NOT STEAL), BUY, BUY, BUY. Here is my wacky Gold buying rule of thumb. Hold onto your $FRN (Fed Res Notes) until the spot Gold price closes below a century mark (example:<$1200), then jump in and dump as many $FRN as you can afford. Now, sit back and wait for the next century mark break, it doesn't matter if it is $1300 or $1100. In the interim stockpile $FRN, on the upside, after a new breakthrough, wait for a pullback, then whammo, start dumping your scrip. On the downside, buy whenever a century mark is violated. Hey, I know it's not perfect, but it works for me and EVERYBODY needs a plan.
P.S. If you get bored waiting for a trigger, sell something on Ebay and use the proceeds to buy some Silver (non numismatic) coins.


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## Noxx (May 20, 2010)

Currently, Lou is off by only 13 cents 8)

No worries though, I know I'm gonna win :lol:


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## goldenchild (May 20, 2010)

Lou said:


> I'm a 1.20 off as of today. When's this contest end again?


If you were off by 1.20 i hit the bullseye


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## rfd298 (May 20, 2010)

Hoping for a big day tomorrow...... Come On $1211.10 :lol: :lol: :lol:


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## Barren Realms 007 (May 20, 2010)

rfd298 said:


> Hoping for a big day tomorrow...... Come On $1211.10 :lol: :lol: :lol:




What!! You are going to try and beat me by a lousy .95.....COLD 8) 

You couldn't have picked a larger spread?


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## Lou (May 21, 2010)

BUY!!!!







SELL!!!


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## martyn111 (May 21, 2010)

Although I was excluded from entering this competition, being from the Uk, I have just checked the price from Kitco 1178.40 and London afternoon fix 1179.75
My guess it would seem is pretty damn close if not the outright winner. (1178.60)

The conditions for entering were from US or Canada and 25+ posts, I lost my orignal ID on here (marty) when the forum changed servers and was unable to retreave it, so if you check it out with Noxx I did qualify to enter on posts.

Just my 2pence worth


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## lazersteve (May 21, 2010)

As far as I know the contest ends at midnight tonight. The price can still change between now and then.

Steve


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## Noxx (May 21, 2010)

No, it's London fix PM. 

The price was fixed at 1179.75 US according to Kitco.


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## pinman (May 21, 2010)

Woohoo!!


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## shyknee (May 21, 2010)

i had lots of fun  :lol: even tho I lost  :roll:


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## metatp (May 21, 2010)

That can't be. My wife is never wrong. Oh, I know what she meant. She thought the index was for only 995 gold. I guess she is still right . At least that's what she tells me.


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## EDI Refining (May 21, 2010)

$1179.75

I almost won 
Congrats Pinman, PM your address and your ag maple leaf will be in the mail next week.

silversaddle1 - $1134.20
gustavus - $1148
Lazersteve - $1148.99
platdigger - $1151.20
P3M - $1172.50
pinman - $1182.16 <---Winner
gst42know - $1185.25
HTPatch - $1187.01
goldenchild - $1190
Lou - $1191.20
Noxx - $1200
Harold_V - $1202.67
Barren Realms 007 - $1210.15
rfd298 - $1211.10
Shyknee - $1221.80
Platinum - $1251.12
GSP - $1257.18
Oz - $1260
MiltonFu - $1317
Irons - $2350


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## martyn111 (May 21, 2010)

P3M said:


> $1179.75
> 
> I almost won
> Congrats Pinman, PM your address and your ag maple leaf will be in the mail next week.
> ...




Eventhough he wasn't the closest!!!!


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## Anonymous (May 21, 2010)

The rules of this contest have baffled me, P3M hosted this contest then included Knoxx as a co-host with out him having any knowledge of this until the contest was under way SHOCK. 

I regret that I have participated in this contest given the restrictions. I suggest that any future contests be open world wide to all out friends and neighbors, or that we disallow these contests should they be with limitations.

Best Regards
Gill


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## metatp (May 21, 2010)

gustavus said:


> The rules of this contest have baffled me, P3M hosted this contest then included Knoxx as a co-host with out him having any knowledge of this until the contest was under way SHOCK.
> 
> I regret that I have participated in this contest given the restrictions. I suggest that any future contests be open world wide to all out friends and neighbors, or that we disallow these contests should they be with limitations.
> 
> ...


What about shipping of the prize? Will the winner over seas pay for shipping.


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## martyn111 (May 21, 2010)

removed by p***ed member


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## pinman (May 21, 2010)

As I have never offered anything to the forum if it's ok with you p3m I'd like it to be sent to noxx for hosting this forum. I have learned so much from this forum and he is the reason this information has been made available to me.


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## metatp (May 21, 2010)

pinman said:


> As I have never offered anything to the forum if it's ok with you p3m I'd like it to be sent to noxx for hosting this forum. I have learned so much from this forum and he is the reason this information has been made available to me.


pinman, PM me with your address, and I will send the 1g of DMG (when I get it). I will ship it out once it is in my hands. If you want that to go to someone else, please let me know.


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## rfd298 (May 21, 2010)

Sugar.....

Anyway it was a fun little contest. Looking forward to the next one.

Congrats to pinman.


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## lazersteve (May 21, 2010)

martyn111 said:


> Thats a bit of a no brainer, you can have 1179 USD of gold for the cost of the postage, I did say when I made my guess I would pay postage.



I believe the coin is a silver coin, not a gold one.

Steve


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## metatp (May 21, 2010)

HTPatch said:


> pinman said:
> 
> 
> > As I have never offered anything to the forum if it's ok with you p3m I'd like it to be sent to noxx for hosting this forum. I have learned so much from this forum and he is the reason this information has been made available to me.
> ...


Oops. Typo. I meant 10g of DMG.


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## EDI Refining (May 21, 2010)

pinman said:


> As I have never offered anything to the forum if it's ok with you p3m I'd like it to be sent to noxx for hosting this forum. I have learned so much from this forum and he is the reason this information has been made available to me.



Good man pinman. I have respect for that

I will send the Maple to Noxx
Hope you guys had fun!


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## pinman (May 21, 2010)

It was fun. It had me watching this thread like a hawk.


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## metatp (May 24, 2010)

I told you my wife was right. She just gave the wrong day (though she may say that this forum had the wrong day) :lol: . $1187.01

LONDON FIX
Gold
May 24, 2010	AM	PM
USD 1183.75	1187.00


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## Palladium (May 24, 2010)

See if you can get me the numbers for The Mega Millions Jackpot.


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## metatp (Jun 22, 2010)

HTPatch said:


> pinman said:
> 
> 
> > As I have never offered anything to the forum if it's ok with you p3m I'd like it to be sent to noxx for hosting this forum. I have learned so much from this forum and he is the reason this information has been made available to me.
> ...


p3m,

I received the DMG. Where would you like me to ship th 10g to if you want it. You can give it to someone else if you have no need. Please PM.

Regards,
Tom


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## EDI Refining (Jun 22, 2010)

I don't need it, but thanks for offering Tom

all the best
Peter


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## metatp (Jun 22, 2010)

HTPatch said:


> HTPatch said:
> 
> 
> > pinman said:
> ...



Oops again. I meant to to be for pinman.


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## Calg5 (Sep 23, 2010)

I kept a watch on the contest that was part of this post and found it interesting. I could not participate because I am a fairly new member with very few posts however now that gold is creeping up to $1300 US I would like to see you run a contest guessing a date that it will hit and close above $1300.


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## goldenchild (Sep 23, 2010)

Staying on the topic of contests... did lazersteve ever say who won the gold plated pins from the silver refining dvd contest? I really want to know what the easter eggs were.


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## jimdoc (Sep 23, 2010)

goldenchild said:


> Staying on the topic of contests... did lazersteve ever say who won the gold plated pins from the silver refining dvd contest? I really want to know what the easter eggs were.



I agree,that easter egg hunt had me stumped real good.

Jim


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## lazersteve (Sep 23, 2010)

I had one winner out of three possibles. 

If everyone agrees to throw in the towel on the second two prizes I'll award them to the only winner.

I'll wait until Monday to give anyone who is still trying to solve the Easter Egg hunt a little more time. Post to this thread if you want me to hold off on announcing the winner.

Steve


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