Jim Rogers Destroys The Last Argument Of The Gold Bugs (GLD, GDX)

Gold prices have been tumbling. But the ardent gold bulls have been hanging on. The most popular argument that these gold bulls have clung to has been that mining costs will create a floor for gold prices. The idea is that if gold continues to be below the cost of mining, then miners will stop mining and supply will disappear forcing gold prices up. However, it's not completely obvious that a mine would shut down just because the market price falls below cost. Jim Rogers, Chairman of Rogers Hold...