"Another key argument that gold has hit support is the idea that miners are at breakeven on production costs and will not be willing to extract more metal from the ground – thus limiting supply and boosting prices. However, it's willfully naïve to think that major miners like Barrick Gold or Newmont Mining will simply shut down and bleed cash. They have payrolls to make, operations that require maintenance and – most importantly – debt to service. Consider that Barrick had $14.7 billion in total debt as of its first-quarter earnings report, which isn't going to pay for itself. Like it or not, these companies will continue to mine simply to keep the lights on, even if it's not in their long-term interest – which is one of many reasons that gold miners are a bad investment right now."