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Politics : Gold and Silver Stocks and Related Commentary
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To: Claude Cormier who wrote (14304)6/16/2005 9:46:16 AM
From: Tommaso  Read Replies (1) of 18308
 
>>In short, a mountain can always be strip off from the top at a very low cost.<<<

And to me, that is an argument that the upside of gold prices is limited by the capacity of newer, better, and bigger machinery and leaching methods to extract it.

I would say that the past year has been quite good for gold. As of this moment, Kitco shows it up 12.75% for the year.

If gold continues to appreciate at that rate for ten years (a rate that many common stocks--not all, to be sure--have at times achieved), the price of gold would be about $1,400 an ounce. For 15 years that would be over $2,500 an ounce.

Imagine the mining activity that $2,500 an ounce would stimulate.

How much does it cost to extract an ounce of gold from seawater?

I write all this as someone who recently moved a good bit of the cash in my wife's IRA into CEF.
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