Club Mulgoa

Thursday, May 16, 2013

POG

Here it goes again tumbling down.  There is someone selling its stockpile.  But central banks cannot all offload their gold bullion.  There aren't enough Chinese housewives to mop it up.

Personally, if it falls further, it is time to buy ingots of gold because you cannot produce gold cheaply.  Many mines will close at below USD$1400 per oz.  The meagre profit is not enough to run a mine.

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