A drop in gold prices below $1,200 an ounce may precipitate a fresh round of production cuts in the mining sector aimed at re-balancing the market, strategists told CNBC. Although the short-term view on gold remains overwhelmingly negative – with nearly three quarters of respondents in this week's CNBC gold sentiment survey forecasting further weakness for bullion – many say prices may start stabilizing below $1,200 – levels where a supply response from the mining sector may kick in. "Gold production may fall at prices below $1,200 as it becomes uneconomical for many mines to operate profitably," said Mark O'Byrne, ... (full story)