Gold Futures - Feb 22 (ZGG2)

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  • Bid/Ask:
  • Day's Range:
    1,828.55 - 1,843.60
  • Type:Commodity
  • Group:Metals
  • Unit:1 Troy Ounce

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  • I bought some  AEM thinking that it reached the support level 1784
    • Nice, it's close to my estimated current floor price of gold ($1760) ! For years people have been quoting mining cash cost to be $1200/oz ! However, 'cash cost' excludes some important capital costs and is also outdated ! My quick dirty method is to look at median price recovered by miners and that is about 1450-1560 during last year ! Add 10% for post sale middlemen costs and voila,,, you bought at right price as swing trader ;) I am no expert though but i do know, miner are not making a killing selling gold
    • can’t paint all gold miners with a broad brush - some all in costs $600 usd all the way up to $1,300 usd, thing is if Canadian they convert $$’s back and make another 25%, sell directly to Canadian mint and no extra fees
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