World Complex - here's a bunch of diagrams about the gold price, not that you will understand them. Mickeyman finally remembers that the clicks are in gold.
FWIW, it is very important that gold has only "dropped" in US dollars, as I've kept pointing out. This chart:
shows a calming bottoming pattern, not a breakdown.
Then again, US traders won't care, they'll short gold since that position makes money in their currency, right?
Then again, to be fair, this chart also sucks:
Then again then again, the rupee's strength has come from rumours of the powers of Modi's magical +3 Handbag of Margaret Thatcher. But as we'll find out over the next year, in reality the problems he faces can't be fixed simply by busting coal miners' unions and declaring war on Argentina. So make of it what you will.
I'll only take issue with the following:
With the gold price falling, cannot these companies show their empty pockets to local governments and ask for tax breaks/benefits for infrastructure?This would assume these (mostly third-world) governments will have money. The gold miner would have to threaten closure and the loss of enough jobs to threaten the government's hold on power. I'm not going to want to invest in that company.