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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 421.32

-0.5%

4:00 PM EST

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To: average joe who wrote (66646)	9/30/2010 7:07:38 PM
From: Hawkmoon	Read Replies (3) of 219408

Curious you think every ounce of gold has the exact same production cost, Did I say that? What I posted was the AVERAGE cost. commodityonline.com Maybe this will be a goldbug propaganda site that will satisfy your standards: wealthdaily.com In 2000, Barrick Gold (NYSE: ABX) was producing gold for $145 an ounce (inflation adjusted = $185/oz). During the first three quarters of 2009, the company's total cash cost were $463 an ounce — a 215% increase. Why did the costs go up? Because demand has gone up and made those most costly deposits of gold economically viable to exploit. The higher the price of gold goes, the more of it that will be mined and added to total global supply. So, if the average cost is $500/ounce, effectively gold miners have a license to print money to the tune of $800/ounce. Did I say "print money".. Shades of the Federal Reserve!! Hawk

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