Here is a halfway decent article on pricing based on the cost of refining. Many of the big boys have a per ounce cost between 900 and 1000. Many of the other mines have a per ounce cost of over 1300. Which means that as the price drops mines will have to shut down which will limit the supply, propping up the price some.
What If Gold Cost Of Production Is The Next Price Support Level - Seeking Alpha
I usually don't take any articles from seeking alpha seriously, but he has some good points. I did not check his facts yet though.
Bookmarks