Gold Price Slump 1800?

Chart from Kitco.com

Look at the development of gold price seems to slide down , this like what happened in the early September 2011 ago.  At that time, the highest gold price was recorded at USD1884, but immediately since September 2, 2011 it slide down so that in 20166, the gold price was recorded at USD1061. In the current state of affairs, many are forced to change their corporate budget plan and forecast.

Because the conditions for selling products and mining cost are far different and there is no return on investment, let alone making profit. People say they are stumped.

However, if you pay attention to the gold price chart in a "live" way, in general, the price of gold does not go down continuously, while a certain point will go up and as high as up to USD2063 on August 6, 2020.

And the rest is briefly stable and and continues to decline down so that it is now. As for something that can control the fluctuation the gold price, it is none other than the basic law of trade, that demand goes up while stocks of good are lacking. This is simply the world prices of gold.

The current global event and situation around the world is that there is a Covid 19 pandemic with has impact on the reducing a productivity of company, especially in corporate sector with a mass workforce.  

For one thing, social distancing provide a social protocol that has a negative impact and productivity.

Although it can be done remotely or though the world of the internet, online, remote and others. Still, certain sectors must be worked on directly, for example in the world of mining, earth removing and gold processing, all must be done directly, not remote like like in the imagination.

 

An Event has an impact

The black September event in 2011 at that time has made many impacts on the economic sector including the price of gold to fall down very deeply. And this situation lasted until it dragged on so that the lowest point on the gold price chart, namely in August 2016.

And many other event   that had a direct impact on the decline in the world gold prices at that time. Nearly many gold companies are frustrated, give up, because they spent a lot while the selling price of  their production falls, so the forecast does not pursue the operational cost. This state lasted for four years, but whether it recurred or not every time. I do not know. But then the price of gold slowly crept up and continued until August 2020.

    

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