01.02.2013 - Gold isn't going back to $1,000/Oz anytime soon: GHS
Gold would fall back to $1,000 an ounce any time soon, said Global Hunter Securities, LLC (GHS) in a research note. According to GH Securities, the mining industry has seen rampant cost inflation over the last decade and further cost inflation is anticipated. “When gold was $300-$400 an ounce in the 1990s, the average cost of mining was less than $300 an ounce, allowing gold to remain economically viable. In today's gold industry, the average all-in cost of exploration, financial analysis, construction, mining and refining is most likely at or above $1,000 per ounce,” the firm added...............................................Full Article: Source
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