Dr Air Excellent points on the Canadian minors reaping higher gold prices while paying their costs in the weaker Canadian dollar. I've talked to a few Canadian mining CEO's who have brought this up and said, they are very happy with the POG in this range even going forward.
On another note if you look at the CAD dollar slide on a 2 year chart, than compare that to the Mexican Peso, you will see a near mirror image in a range of about a 10% drop each of the last 2 years with the Peso taking about a 5% hit in the last couple mths alone. They also are selling gold in USD and enjoying paying costs in their own lower valued currency. I even asked the CEO's if prices were going up in their currencys and they claim no at this time so its a true positive.
This hurts some, if you've already owned Cad security's through a US account. Your share price drops as the the Cad $ drops. I watched my accounts go down in USD's due to drop in gold, then supercharged by the drop in the non native stocks currency value going down. On the flip side, if your buying now and hold those securitys during a period where commodities including oil come back up, that situation along with the currency's coming back closer will work for you.