I only buy the old gold which was produced for less than $20 per ounce. Fortunately there is a huge supply of old gold. If a few producers fall into un-profitability, there is still LOTS of gold to go around.
If you don't understand the point: gold is fungible. It doesn't matter what NEW gold costs. The price of gold is based on the existing piles not the constant inflation of the piles. Gold-bugs rarely consider that the gold in the world has more than doubled since 1981. Shouldn't the price be half of what it was in 1981? Be generous ... $400 per ounce based on that peak.