Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (68766)	1/2/2007 11:28:48 AM
From: Moominoid	Read Replies (1) of 74559

In the end, the price of gold is the cost of digging it out, plus a bit of profit. In the long-run yes... and that is a race between demand on the one side and the combined effects of resource depletion and improvement in extraction/exploration technology on the other. Then there are the central bank stockpiles and all the gold already out there that could be sold by its owners.... it is closer in some ways to the housing market in that sense than say the oil market.... In the short-run there are demand/speculation fluctuations that can be exploited. Gold is only "money" as long as some people are prepared to believe it is.

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