Loading ...The cost per oz
for a discovery is the real bombshell here. Gold has to rip higher.
https://x.com/MiningCatalyst/status/1831734521085227435/photo/1
Gatos silver bought out today , who’s next on the list ? Good chart from Durrett on the explorers below.
you can’t look at things like this for gold IMO.
There is a *massive* above ground stock of gold bullion. Pretty much all the gold ever mined in history is being horded in a vault or someones jewelry box.
This is actually one of the reasons gold is the best money–it has the highest “stocks to flow” ratio of any commodity by multiples. The next closest is silver and then everything else. No one is going to ever corner the gold market due to this, IMO.
In short, yearly mine supply has almost no effect on gold price given gold’s huge above ground stock.
Bottom line, s