Oct

31

Gold, from Craig Mee

October 31, 2014 |

 Will a $1,200 retest in Gold offer a big fig tight stop chance to offload a bit of gold after stops were cleared today? Are we favoring bullish/salable equities now into at least March/April next year and the USD to keep its grin? Has the price of manufacturing gold declined or is it still around the 1000-1100 mark? Will that contain the slip, and any privy below here provide value buying, or are there far to many doom and gloom gold species who are about to be pressured?


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2 Comments so far

  1. Andre Wallin on November 2, 2014 4:18 pm

    Think the hearts and minds of the optimists lay in Richard Branson esque endeavors and it wiil be interesting to see if crash marks top of tech. The resident dictator doesn’t like some of my comments let’s see if this gets posted.

  2. S Razi on November 3, 2014 4:11 pm

    The cash cost of producing gold along with ongoing capital expenditures is roughly $1000/ oz for major miners. The cost of production, including capital expenditures, for new mines is roughly $1200-1300/oz. but remember, gold is not Iike other commodities. There are very few consumptive uses for gold. The world still has above ground, around 90-95% of the gold ever mined. If we include gold in temples, churches etc, along with Asian households, the total is probably anywhere from 8-12 billion ounces in all truthfulness. Therefore, if the world economy is headed into panic, people may begin raiding the stash of gold in historic buildings to make a living, which can further deepen the bearish momentum in gold.

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