He went on to point out that the real-life activity of gold mining was a lot like his thought experiment.

他接着又指出，现实中的黄金开采活动很像是他的思想实验。

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However, since 2008, the ratio of gold to commodities has surged, slashing the real cost of mining gold by over 60%.

FORBES: Gold Mining Stocks Are An Increasingly Attractive Opportunity

Using the Goldman Sachs Commodities Index as a proxy for the costs of mining (because it is heavily weighted towards industrial commodities), the real cost of mining gold jumped by nearly 50% during this period, explaining why gold stocks did not provide the leverage that gold investors expected.

FORBES: Gold Mining Stocks Are An Increasingly Attractive Opportunity

Better yet, the real cost of mining gold is headed lower.

FORBES: Gold Mining Stocks Are An Increasingly Attractive Opportunity