pog is out of sync with costs, page-5

CoalKing

The POG defies logic.

We're in a global inflationary environment and yet the market thinks gold should be priced at a price where the average miners are barely suviving.

The low cost miners - about 25% or so I think are doing fine by the way.

I'm just concentrating on the average and higher cost miners - the 75% that would be feeling the pinch.

I think gold will find its price in time - but it might take another 12 months or so before we see that.