Gold usually bottoms in March. Now QE3 is almost out of the question, gold weakness from that seems over. Either we stay long in this negative real rate for a while, or inflation is going to come back. Either way gold is going to benefit.
And at the same time, oil is starting to correct: oil inventory has been climbing up. Not that much real demand.
NEM is within 10% of the 52 week low, and pays a nice dividends that is should rise as gold recovers.