rabbitoh
good sensible post.
But i'm wondering ?
Could there be a price where gold gravitates to based on supply and demand , a notional price that the market wants to pay for for gold and a price that would make gold production viable.
Is there a price that provides a happy medium ?
Let's say the market decides it wants to pay $500/oz for gold from now on - is it possible for gold to return to and stay at $500/oz if the production costs for the most efficient and low cost miners run at $550/oz ?
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