Funny how everyone blames everyone else.
Like the Fed for the drop in the POG etc.
Typically a mine gets closed because its either run out of gold or is uneconomic.
Yes I agree hedging forced gold considerably lower than it would have gone & pushed unhedged mines out of production. But blame the hedgers not the bean counters!
The gold industry failed itself.
Look at what happened with Gwalia, it was a disgrace.
I have always said if the gold producers return to wholesale hedging then I am out because gold will go a lot lower. Luckily that has happened & lets hope it doesn't.
