The true cost of producing an ounce of gold | Provident
These numbers report that the cost of extracting an ounce of gold is actually over $1,000 per ounce, well above the aforementioned numbers. And since gold is currently trading at just over $1,200 per ounce, it explains why mining companies have had less-than-stellar profits. Determining the costs of mining largely depend on the region as well.