The way the ASX market currently is, gold starting with a 15 will be enough to smash our XGD Gold Index down another 10% imo and if the gold price starts with a 14 that could smash our XGD Gold Index down another 50% imo.
Looks to me that gold shares, no matter how well a gold company is operating, could become so "on the nose" that noone wants to invest in them.