Grand Rapids Business Daily

How much gold would there have to be to bring the price of it down to 10 dollars an ounce?

Trying to get details in the real world, for a science fiction story, where gold is as plentiful as iron is today.

Public Comments

1. Production costs are about $250 an ounce so you would have to have a scenario where a massive quantity of gold became available. If the price did start to fall, people would buy in bulk as it hit say $400 an ounce thinking they will make a profit when it climbs. If it became public knowledge that you had found 100,000 tonnes of gold which could be mined for $9 an ounce then there would be panic selling but I think many people would hold on in disbelief to their ingots bout at $8 or 900