Thread: What? Glenn Beck was wrong again?
View Single Post
  #2   Report Post  
posted to rec.boats
Wayne.B Wayne.B is offline
external usenet poster
  
First recorded activity by BoatBanter: Jul 2006
Posts: 10,492
Default What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 01:07:44 -0400, wrote:

On 27 Jun 2013 00:37:08 GMT, F.O.A.D. wrote:

The price of gold plunged to the lowest level in almost three years
Wednesday as traders anticipate lower inflation risk as the Federal Reserve
dials back its economic stimulus program.

The real value of gold is probably around $700-800 but the prices went
nuts. It is just another bubble.

===

Not sure where you got that number from but it is definitely
unprofitable to mine it at that price. Assuming no large scale
selling by central banks, a certain amount of freshly mined gold is
necessary to replace that which is taken off the market by jewelery
and hoarding. At current prices you are more likely to see buying by
central banks than selling.

http://business.financialpost.com/2013/06/26/gold-prices-miners/

http://seekingalpha.com/article/1503672-the-cost-of-mining-gold-a-101-and-a-critique
Reply With QuoteReply With Quote