Marketsurfer's bold gold proclamation

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still standing by 600 by 4.1.2009---

things are looking fine for the price collapse between now and then.....it will leave the bulls dumfounded.

surf
 
Quote from edpolton:

According to several of the major gold mining companies, the current cost to produce an ounce is about $700.

Gonna be a bit hard for gold to trade $100 below the cost to produce it.

http://www.bloomberg.com/apps/news?pid=20601082&sid=aEW2t8WM4JQs&refer=canada
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Don't believe anything the mining companies tell you. They're full of shit. Crooked assayers and the amount of gold stocks that go under despite stumbling upon large amounts of gold should tell you that.

It does not cost anywhere near $700 an ounce to mine gold. Closer to $300.

Costing $700/ounce would imply that up until about last year every mining operation was losing money.
 
When oil breaks...and the US raises interest rates (or at least keeps them the same as other countries are lowering) gold may well drop. Remember, the credit squeeze is just beginning....the credit blowout is not over by any means.
 
Quote from PaulRon:

gold does not cost 700 to produce that is just cheerleading
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how is it good for gold companies to lie about increasing costs and declining profit margins?
 
Quote from Ivanovich:

I'm sure much of that is oil driven, either directly or indirectly. Which means if oil goes down, that cost goes down and your argument goes down as well.
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I did not make an argument, just stated a fact.

But, I agree, if oil drops dramatically (and inflation does the same, along with the dollar rising)) the costs will go down as well as the price of gold.

Predicting 600 gold is predicting $50 oil and the dollar at 84. IMO.
 
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