https://blog.providentmetals.com/how-much-does-it-cost-to-produce-an-ounce-of-gold.htm
A new metric has since been developed by the World Gold Council to report the “all-in sustaining costs” of mining gold. These numbers report that the cost of extracting an ounce of gold is actually over $1,000 per ounce, well above the aforementioned numbers. And since gold is currently trading at just over $1,200 per ounce, it explains why mining companies have had less-than-stellar profits.
I'll trade you $1,250 for every ounce of gold you can come up with. Heck, make it $1,300.
And since gold is currently trading at just over $1,200 per ounce,
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Now gold is $3,400 oz. Very old article.