Some of these miners are looking pretty tasty, especially with prices almost where they were, when gold was 800/900 oz. And I am becoming very wary of the paper gold ETFs, as they appear to have become a tool used by the powers that be.
Should one be making such decisions, "I will go all in..." ...based on reduced production of gold OR based on the greater dynamics of the possibility that those who hold gold could do large liquidation OR them or others do large purchases ...consequently affecting the supply (in the market) seriously. My point is that supply being made available in the market is more important to pricing than production of gold. I stand by, willing to be corrected.
Certain quarters are saying the physical market is going to take on increased importance as the bullion banks and others attempt to hold the price of gold down via naked shorting of paper. Physical demand from Asia is reportedly very robust. This is where the market appears to be headed, and I am out of all paper gold as it looks like a big headache. Due your own due diligence.