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Since only a few grams of gold can be extracted from a ton of dirt with the help of machines, the price of fuel plays a major role. In addition, combustion engines, including excavators with diesel engines, are a problem in terms of global warming. Of course, the mining process also destroys the landscape. In the case of gold extraction by amalgamation (mercury), there is also the contamination of the soil. All in all, the prices for everything that is extracted with considerable energy input are likely to rise. That would be then also gold, silver and other precious metals, as well as rare earths.
The problem are speculations (silver speculation of the brothers Hunt, speculation of the banks against gold) which cloud the prices. But, unlike shares, gold or silver will never fall to zero !