GOLD 0.51% $1,391.7 gold futures

greed the problem for miners

  1. 4,420 Posts.
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    I grabbed this graph from somewhere recently, can't remember where. The scary thing in it is it shows how world gold mining costs on average rose from $500 to $1000 in just 6 years. This is what is killing the gold industry, not shadowy bankers manipulating the gold price. Why is inflation so high in this industry?:

    - not due to union-negotiated pay increases; they would be far smaller

    must be down to
    -workers on contract shifting jobs on basis of higher pay, rapidly raising the wage benchmark
    -increases in government taxes
    -increases in component costs from suppliers because they can (trucks, tires, plant etc)
 
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