Trolls on this blog contradict themselves and Ill give you an example.
Trolls say the price of mining gold is very high at around 1200 -1300usd
Trolls say that POG will hit 800-1000 usd.
If the price of producing gold is 1200-1300usd and the POG is to hit 800-1000usd
That is 200-300 below the cost of production.
How many gold mines do you think will survive that for long??
What do you think will happen to the price of gold if half the mines close??
Trolls are very strange people aren't they, some lost most of their money buying gold at the peak and selling in a panic near the lows, they cant let it go and try to inflict pain on others. Some are just paid for comments and some just want to prove how intelligent they are or think they are! Strange people with untreated problems. Help is available just not here!!
RBA/USD/AUD
Apparently the USD has fallen against the British Pound and the AUD, a good reason to hit gold?
AUD back over 93c and looking very strong. RBA is between a rock and a hard place right now.
They cant and wont raise rates because the housing market will get smashed and the Banks wont let them.
If the RBA raises rates the banks will get smashed as 80% of their business is in Australian mortgages.
The RBA has only one tool left. Spend billions trying to short the AUD. Good luck with that IMO they will lose badly, the AUD may dip a couple of cents but it will bounce because there is too much money flowing into Australia.
