A key driver for gold? Diminishing supply from the mines.
From the Agora Financial 5 Minute Forecast yesterday where they were discussing physical gold:
“A key driver for gold,” writes U.S. Global Investors chief and Vancouver favorite Frank Holmes, “has been diminishing supply from gold mines.
This chart from JP Morgan shows the all-in cost to produce and replace an ounce of gold for a handful of miners."
“Despite $1,300 gold, margins are still relatively modest. The costs vary widely depending on the company, but the peer average is $880 an ounce.” Read it here.
Folks, that means that it is getting much more expensive to get physical gold out of the ground. In February of 2009,read that it was costing $750 per ounce to get the good stuff for a golden coin out of the ground. See how inflation works? Buy your golden coin today at Lear Capital!