“We're one of the lowest-cost gold producers in the world. And that is the best defence against a low gold price.”
“They point to the gold oil ratio. Historically, gold has been 20 times oil. Let's use $4,000 as a round number. That would place crude at 200.”
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What was described
used the historical gold-oil price ratio (gold ≈ 20× oil) to assess energy cheapness
gold 20 times oil; $4,000 gold price implies crude around $200
Said nearby on the same subject
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“Wholesale energy prices are down in Australia 27% as they are rising everywhere else in the world”
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