I think Gold's a bad trade either direction, because it is unreliable.
I suspect at some point in the next year there is the potential for a massive sell off in Gold once people figure out the world isn't collapsing. Seen this happen in the past and once a drop starts there is no stopping it because Gold is a psychological play more then anything. That being said, I wouldn't want to be short because it could climb to $2400 as well ( whatever the inflation adjusted all time high is ). The bubble potential always exists with Gold.
I think a better trade is look at the trading ranges of silver miners in Canada and buy them at the bottom. Something like SSO has a lot of torque on up moves, and they posted their first real profit this year. PAA seems to trade in the same range for a long, long time. SLW is a little wild I'm leery of their business model moving forward, the easy money was when it was $10/share. Like many trades I make I was way too early on SLW, buying $10 and $11 calls before the big move. If SSO can prove its profitable consistantly, its a good long. Note I haven't researched these for some time so do your own due diligence.
ps I finally smartened up and put Denner and GrandSuperCycle on ignore. Should have done it a long time ago. Neither has much of value to say about anything. Both have the ability to sway successful traders off their path.