It costs money to close a mine[gold], it costs money to re-open a mine so people are reluctant to close mines. So you can see any commodity staying below the cost of production for a while, especially if it’s something like a mine which is expensive to close and expensive to open.
Some people are not going to be able to open mines because of what’s happened. But then you’re going to eventually have people close mines, and eventually, like I said it’s going to work its way out in 2014, 2015, gold will make a nice bottom and off we’ll go again with the assumption of a bull market.
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
