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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 421.32-0.5%Jan 16 4:00 PM EST
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To: Hawkmoon who wrote (66643)9/30/2010 5:48:39 PM
From: average joe  Read Replies (2) of 219422
 
"And like I mentioned, since the cost to extract gold is well under 50% of the current spot price, every ounce that is produced now and in the future undermines the value of previous quantities of gold."

Or adds to it. Gold at the north pole would need thousands of more dollars added to the current price to be economic. Curious you think every ounce of gold has the exact same production cost, and a mine in NW Tanzania has the same production costs as a mine on the Carlin trend of Nevada.

Does that mean that a bbl of oil in the Gulf of Mexico has the same production cost as one in the Athabasca region of Alberta or a Bakken will in N. Dakota?

"And how would someone know the difference between a 14K gold piece and a 24K one at face value without a scale?"

Your getting purity and concentration mixed up with weight.

"as we saw with $150/bbl oil, those markets that are so thinly traded are easily manipulated."

When did oil become thinly traded?

The fact is the U.S. is bankrupt and people will continue to exchange their meaningless currency for gold. If oil and gold ever fall off the U.S. dollar standard real problems will start to happen so thank your lucky stars you still have time.

en.wikipedia.org
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