We can across this interesting article today from Zerohedge.com, which estimates that the average marginal cost for the production of gold is $1,300 an ounce, including capital expenditures. The price of gold at today’s close was $1,200 an ounce, which means that gold will stop being mined at current prices...
Gold Prices
The Price of Gold Drops Below Its Production Cost!
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You also agree to follow these guidelines. You must agree to these rules to be a member of this forum. NO SPAM! Spam is deleted within minutes, no spam will ever be left in our community.
1. Post a front and back image of your coin with a specific question about what you’re seeing or asking about and one coin per topic.
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3. Images should be taken by a camera or cell phone camera, we ask that members don’t use images through a microscope screen.
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Re: The Price of Gold Drops Below Its Production Cost!
I am confused by both the drop in gold and silver prices. I am starting to suspect that these are artificially being held down by those who would try to manipulate the economy and money supply. The truth is both precious metals are worth much more and will prove it over the long haul. The market for gold should be stronger and stronger, with prices to match the market.
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Daniel
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Re: The Price of Gold Drops Below Its Production Cost!
The experts are blaming China for tightening down to strengthen their economy so they buying less gold and the USD has been stronger, but I agree, I think there's a lot of manipulation and pump and dumping going on. I think the manipulation is so large that even the US government can't do anything about it but they will never admit to that.
Re: The Price of Gold Drops Below Its Production Cost!
Foreign governments are a good place to look for culprits. The Fed chairman is another villain, keeping interest rates artificially low, printing money and reporting to no one in America. He is too powerful, for some one unlelected and uncontrolled.
Re: The Price of Gold Drops Below Its Production Cost!
If you want to know how much your cast iron bath is worth, we can tell you.
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