Bought some GLD ETF today. I remembered 2-3 years ago, I read the production cost of gold is USD $1300. I got a surprise to see gold at such low.(Less than USD $1100) I look up the internet and realized the top 10 gold miners/ producers are having AISC close to or even above current gold prices. There are also plenty of debate about the adequacy of AISC (all in sustaining cost) and the actual cost should be higher. But lets just take AISC, a metric develop by world gold council to account for the realistic costs of production, at face value. See http://www.mining.com/top-gold-producers-margins-squeezed/ At USD $1200 per ounce, there are already plenty of news article a year ago saying that some miners will not be able to sustain production. I took a brief look at the various presentations of Barrick, Newmount and Sabanye Gold, and notice that ......