OTCQX:DMMIF - Post by User
Comment by
edxon Jun 19, 2014 1:45pm
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Post# 22676181
RE:RE:RE:Gold is up $20
RE:RE:RE:Gold is up $20
It's hard to judge how soon this will happen. One on hand, Ukraine and Iraq blew up and gold barely increased (and promptly tanked).
On the other hand, I've felt for a long time that gold cannot sustain itself at $1250 or below forever without physical production tanking substantially. I think Barrick the other day reported a ~90% decline in year over year profit... so profits are virtually non-existent and if profits are non-existent money for new capex is non-existent.
It's not a sustainable situation. Gold needs to be in the $1500 or higher for a healthy market... the question is how long will it take to get there?