> But fundamentally it is being sold at cost to mine + a margin, same as everything else. I don't think this says anything about why the gold price is what it

> But fundamentally it is being sold at cost to mine + a margin, same as everything else. I don't think this says anything about why the gold price is what it is. If gold suddenly gained lots of value then it would still be cost + margin, because new mines would open up in places where gold mining had previously been unprofitable.