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Gold/Mining/Energy : Gold Price Monitor
GDXJ 124.11-13.6%Jan 30 4:00 PM EST
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To: re3 who wrote (57258)8/13/2000 2:41:14 PM
From: Hawkmoon  Read Replies (3) of 116944
 
are you saying that various governments should be selling more of their country's gold, or even all of it?

Yes.

and sell it at a price that may be below the cost to mine it?

Not necessarily.

Unless, that is we see even less demand for gold that indicates that it is losing favor as a jewelry or an industrial commodity.

But then again, we have to decide what is the base line cost of production. Some mines are extremely fortunate or efficient at running low cost mining operations. Then there are others such as in S. Africa, where they dig miles underground and literally dig tons of rock solely to recover a single ounce.

That strikes me as rather inefficient (and dangerous) and a candidate for closure. After all, why should be subsidize S. African high cost gold producers?

So maybe we can find the average cost of production among all mines and use that as mean standard of where gold is heading eventually

Regards,

Ron
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