Originally Posted by Fedaykin
Gold drops to near $1200, still falling fast. Down 40% in the last 6 months. Gold speculators and retailers rake in the dough. Regular Joes conned into buying hyper inflated commodity get screwed, as always.
Regular Joes selling their gold at selling cost are getting screwed. The average cost to mine gold over the last few years is about $1000 per oz. This includes some deeper mines recently that cost over $1500/oz. Those same gold speculators will take the regular Joe's lunch over the next few months.