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RE: GOLD: Are you a GOLD Bug? Just Because It Glitters Doesn't Mean you Can't Wait to Buy!
Resource values certainly go below the cost to mine the resource. It happens in every resource bear market. Gold bottomed in December of 2016 at $1050 and the average all in sustaining costs to produce an ounce is between $1100 and $1200/oz. The mining companies were trying to stay alive.
gold consolidation is over after 5 years it's time for blastoff!
That's what I've set my portfolio up for, until this post from haijen.... It would be a wicked bad thing for my portfolio if gold drops to $765/oz. It's got me seriously thinking. All the newsletter writers are following the script that the bottom was in and we have started the next gold up cycle. I also do know that the market has a way of punishing people when everyone believes something is true. I think this is the exact point to Haejin writing this off-script post.