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When taken from a domestic viewpoint, the primary gold market appears to be noncompetitive and marred by concentration. However, when seen at the global scale, it is clear that the primary gold market is competitive and diluted. Further, even if the primary market were noncompetitive and concentrated at the global level, that market probably could not readily affect the price of gold. Regardless of competitiveness, gold mines in the United States and elsewhere are subject to environmental and safety regulations that increase the cost of production; Regulations are stringently enforced in the United States as compared to competitor countries, potentially creating a competitive disadvantage for US primary producers.

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Publication Information

11 University of Botswana Law Journal 117-129 (2010)