Friday, August 21, 2009
is the gold price manipulated?
well, the most gold bugs forums, gata, gold & silver analysts etc. speak/write about that 100%-sure-issue like about religion .... but is this evil manipulation (to the downside, isn't it? sorry, just kidding :-) really sooooooo bad? hell, why does no one buy the manipulated & soooo cheap paper gold futures and requests physical delivery later on? there are many hedge funds specialized on arbitrage trading out there, isn't it?
and last but not least, what are the production costs for new gold deliveries? well, i do own stocks of sooo many gold/silver producers & explorers aaaaaaand i do subscribe for all of their newsletters ... even if i do not read more than the headline often i do remember that the cash costs per 1 oz @ goldcorp's red lake properties / canada are below $300 (that's $280 or the like!!!), there are many producers with cash costs between $300 - $500 ... and even the south african producers who have to dig really deep do not produce above $600/oz i think (sorry, i'm 2 lazy 2 look up the correct numbers ... it looks like work!)
==> is $940 per 1 oz gold really such a low + manipulated price?
pps: we still can buy as much physical gold as we want to, isn't it? there are enough coin dealers, banks, gold account providers + other suppliers out there who offer PHYSICAL gold + silver, so if s.o. thinks the price is artifically low he/she should just grab as much as he/she can :-), so what?
ppps: whoever will try 2 manipulate, GATA's newsletter will tell us first ... ~ GATA ~ Gold Anti-Trust Action commitee