Originally Posted by fullmetal
Mining companies are currently inflating their costs in press releases. The mining companies fear an exit from metals because there is so much on the market that they will be operating with excess capacity. The average cost of gold extraction is NOT $1200 per ounce, but these companies want everyone to believe this so that it creates a false floor. Just ten years ago the average extraction cost was under $200. Gold remains abundant and costs have not gone up six fold in a decade.
I know fellow geologists in the mining industry, they fear a price plunge. Several left the oil exploration industry to ride the precious metal surge and slowly shifting back to oil and natural gas.
As the dollar strengthens my investments go overseas. My buying power is spiking.
Interesting. This thread is actually productive. Thanks everyone for your input and keep it coming as i know im learning as well as others