I disagree. Gold will never go below mining cost of $1200 and silver $16.If gold reaches $700 all mining companies have to shut down. This will reduce the supply. I can see gold will reach all time high this year and going higher.
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Resource values certainly go below the cost to mine the resource. It happens in every resource bear market. Gold bottomed in December of 2016 at $1050 and the average all in sustaining costs to produce an ounce is between $1100 and $1200/oz. The mining companies were trying to stay alive.
gold consolidation is over after 5 years it's time for blastoff!
That's what I've set my portfolio up for, until this post from haijen.... It would be a wicked bad thing for my portfolio if gold drops to $765/oz. It's got me seriously thinking. All the newsletter writers are following the script that the bottom was in and we have started the next gold up cycle. I also do know that the market has a way of punishing people when everyone believes something is true. I think this is the exact point to Haejin writing this off-script post.