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Message:: [QUOTE="Collecting Nut, post: 2222340, member: 74863"]Nice link but after clicking on a few of the mines it owns and operates, the average cost is over $800.00 as medoraman said. One of the mines has an average cost of over $1100.00 per ounce. Gold near the surface is cheaper to mine as compared to gold deeper in the earth. Just because one mining outfit can mine at a lower costs doesn't mean all mining companies can. With sustained lower gold prices, some mines will go broke and sell to other mining companies. The costs of production must be kept as low as possible to keep operating. There is no difference between needed and wanting when compared to production costs. If you want and can't afford because all the money you have goes to what you need, you will find a way to do without certain needs. Grow your own food, or at least some of it. You will be cutting your costs. Regardless of the production costs of gold, you will be losing money if you buy today. World forces are forcing the prices of everything down. Wait until a bottom forms, then buy. All world markets are in a correction that will not be the end of the world. There are in this correction because of printing money with nothing to back it up. Sooner or later, inflation will come with a roar.[/QUOTE]