http://www.zerohedge.com/news/2013-06-26/gold-drops-below-its-average-cash-cost
As shown two months ago,
the marginal cost of production of gold (90% percentile) in 2013 was
estimated at $1300 including capex. Which means that as of a few days
ago, gold is now trading well below not only the cash cost, but is
rapidly approaching the marginal cash cost of $1104...
Lets make something perfectly clear, Gold has not lost any value, gold does what its intended to do, a store of wealth, Cash on the other hand goes up or down. Miners across the board hit fresh 52 week lows, I am slowly dollar cost averaging a position in several miners who can weather this storm...Baby steps.
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