the collapse of etf gold - paper gold, page-87

Hi Skol, you forget just one thing: gold is just not another metal or commodity, it's unique as it's also money and has been for thousands of years, the best money. It's the best store of value & the most valued precious metal because of many things, including its beauty and rarity. Of course the cost of producing it must affect it's price. It's cost now is about $1000 per oz. that's it's bottomline now. The miners aren't going to pay that to mine it & give it away, would you? So a reasonable markup is say 25%. Then there are the other factors, too many & too complex to go into, but we all know what they are. Try as hard as you will, only a fool would believe it's not worth much. It's rockbottom now, and already on its way to stratospheric levels imo. And the goldminers will return to what they have been so many times before: the world's finest money-making machines.