Club Mulgoa

Thursday, April 25, 2013

Idiots and POG

You now wonder who was managing the gold sales a few days ago when it fell to nearly USD$1300 per oz....

There is no mint in Sydney and it is too awkward to buy but I was planning to buy a couple of oz of gold.

POG is not out of the woods yet, though but demand-supply demands that the price stays over USD$1300 per oz as it costs a lot of miners over USD$1100 per oz to dig it out.  And there are less and less productive gold mines around the world.

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