If gold dropped much lower than its current price, it might not be profitable to mine it. So I think I am in agreement with your post. If gold got close to $1,000 USD, i might convert half my USD savings into gold. And if it got to $800 I would probably convert the other half.
RE: GOLD: Are you a GOLD Bug? Just Because It Glitters Doesn't Mean you Can't Wait to Buy!
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GOLD: Are you a GOLD Bug? Just Because It Glitters Doesn't Mean you Can't Wait to Buy!
If gold would get that low it would only be the paper derivatives which are fake anyway... you would just pay a really large premium over spot. This has happened with silver in the recent past already, when I got all exited and tried to buy it sub $14.... also delivery times at the big sellers like apmex go to unreasonable times. Just my 2 cents though.....
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I think the precious metal markets are manipulated so much that it is hard to compare it to crypto.
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