Mr. Burns, 3/1/2014 It's twelve hundred bucks, give or take a hundred.  That is how much it presently takes to produce one ounce of gold; of course that is just an average or a mean or a median or whatever.  It is not exact and it varies from mine to mine, but on the whole it costs about $1200 to dig and refine 1 oz. of gold.  That is also the floor for the price of gold in US dollars.  During the last couple of gold cycles, the price could and did go lower than the cost of production, but it is different this time.  Yeah, it is different this time.  Normally I laugh at anybody saying that because they are in…[READ MORE]