Latest cost to mine an ounce of gold
derryb
Posts: 36,823 ✭✭✭✭✭
"The bottom line is the major gold miners' fundamentals in just-reported Q3'16 were incredibly strong and bullish."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Costs have been getting lower for years.
Roadrunner will chime in now and say balderdash to those numbers.
Knowledge is the enemy of fear
It takes fuel to power the machines that help people mine the gold. It makes sense that the aggregate cost has declined.
And of course the major miners' fundamentals are strong, if they can produce it at $855 and sell it for about 50% more than that.
Liberty: Parent of Science & Industry
lots of middle men and post mining fabrication costs between the $885 and current spot.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
True. And even more "middle men" and their profits, fabrication and distribution costs, between current spot and "retail" for the wide variety of products, packaging, and opinions about the quality of the products and packaging. Everyone has their damn hand out to us poor end-users of the gold, don't they?
Liberty: Parent of Science & Industry
More reason to be a middle man.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
No, thank you. Never had any interest in being any sort of middle man.
Liberty: Parent of Science & Industry
.......and not a stacker!!
Knowledge is the enemy of fear
stack the profits.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Yup, stoke their fears, hype the products, take advantage of the suckers, and stack the profits. yay!
Liberty: Parent of Science & Industry
Middle man is like the pivot point in a circle jerk
It oftens seems that middle man makes the most. Especially these days with more discerning consumers. Part of the reason so many corporations vertically integrate to eliminate them.
@VanHalen....Nice analysis.... Vertical integration was ideal for a long time in business...then customers started pressuring producers to send manufacturing overseas to reduce costs further.... That was bad. While I was in business, we opted instead to reduce our costs through lean manufacturing... worked great. Of course, the mining industry may well be different, I do not have experience there. Cheers, RickO
That is an average cost among many different producers. Your mileage may vary.
that's what they say their numbers are.
I'm always skeptical of these numbers since it could be them just supporting the gold price.