The current gold bull market is just over 6 months old, and while it has not been a gentle ride, it is very much expected considering the volatility of previous bull markets.
The collapse of oil prices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas.
Just as government threatened to withdraw the licences of mining firms which refused to pay the increased taxes so did the mining companies threaten to stop their mining activities.
August has been brutal for top gold miners with fresh selling hitting the sector on Tuesday as gold dips to June lows – Barrick's now down 20% for the month.