WoWDB

Best way to make gold with living steel is to buy ghost iron ore at around 50g and below(on my server at least) and then smelt it and send it to a transmute master alchemist character in a high lvl guild. Then transmute the 10 stack of bars into trillium giving you a chance at additional trillium bars. After you transmute all the bars you should then have plenty to making a living steel transmute with a chance at another proc.

Using ghost iron ore will use at most 6 stacks. You can also use the white and black trillium and smelt them instantly into trillium bars but i only buy them if they are less than 10g each because you lose that chance at extra procs.

I sell my living steel at no less than 490g. So if people are tanking the market to 350 or 400g i wait till it goes back up or if its just one i will buy it out and repost them.

Hope this helps a few of you needing a way to make gold.

Don't do this without Transmutation Master for more benefits. There is a guide about that here