I was thinking about how gold mining costs could behave as a floor in the price (estimates put it between 800 and 1300) and it occurred to me that it might be a useful indicator to plot the spot price and mining cost together on one chart going back 50 years or so. I'm curious, does anybody think that would be useful, and where would one even find that information? I found one mine that put their cost at $250/oz in 1980.. If that's a ball park for the price in that period, it shows how far away from its mining cost it got. Today seems somewhat tame in comparison.
Great idea. And today is tame by comparison to 1980, but then again, we hope for more sustainable and 'structural' increases in the prices of gold and silver this time I think.
Serious? 1980 was an abomination. How long did the $800 last for? And $250 back in 1980 was big bucks. This is with much cheaper fuel + wages + taxes I believe. Are you saying $250 in AUD or USD? Because gold was only around $250-300 USD at the turn of the millenium. That'd sent that same company broke by then.
