Well that's just fine and dandy. I'm not saying it will or won't but what is the Total Cost of mining gold from the ground right now? I'm talking from land acquisition, permitting, infrastructure, mining, transportation, processing to reclamation work. Last I heard it was over $900/oz. Many mining cos. will fold up like a cheap accordion. They have no choice. Right now Randgold Resources (GOLD) is in African ebola/AIDS country. So they could have some attrition of miners.
Excellent points.
Will we see ghost towns and vacant buildings in the areas you mention?
There are tens of thousands of different gold suppliers (biggest bunch are Chinese) and they all have different total cost levels across a very broad range. So much for supply; gold demand is mostly jewelry and fashions change so if it's no longer 'chic' and nobody wants to pay more than $100, there will still be sellers. OK, very few but some. Historically --over the past couple centuries-- gold's price in 2014$ has averaged about five or six hundred dollars.
