A Gold deposit only become a mine when the price of the end product is high enough to cover the costs of production and hopefully make a profit. Hard rock mining is nearly always more expensive than placer mining so the price of gold has a bigger effect upon which hard rock deposits become mines and which ones do not, and at what time. Deposits with high mining costs are the last to be developed and the first to be shut down when the price of gold is low.
With all things being equal, for the claim holder, the higher commodity prices go (gold) generally means that your claims will increase in value. If you have a good location with low cost access and you have good grades your property will increase even more in potential value above other claims that have lesser attributes.
To read more on gold and opinions where the price may reach go this link Will we see a $5,000 per ounce gold price?