I think with the current difficulty it should be possible to be profitable depending upon what hardware you have and what pool you belong to in regards to fees. Unfortunately, at this point in time with GLD being a lesser known currency, you have to also factor in conversion fees on exchanges if you'd actually like to convert the coins into a more mainstream currency.
That said, focusing on the current profitability of mining a coin like GLD I think is being near sighted as it is only one part of the equation. Being New to GLD and coming back from a cryptocurreny hiatus, I'm in no position to speculate, but when it comes to early adoption of mining a certain coin that's really where the profitability stems from - potential appreciation. So maybe you break even mining or maybe even lose a bit, but if you have faith in a particular coin appreciating in value than ultimately your profits come not from continued mining but from appreciation on previously mined coins.
Consider Bitcoin for instance. In the early days, people gave it away like candy and the difficulty made it rather easy for even a modest computer to mine a nice little balance of Bitcoins - but those Bitcoins weren't worth much at all. There was a point in time when having mined 50 Bitcoins wouldn't have purchased a candy bar, let alone pay the electricity Bill but today much to the regret of people who lost, donated or otherwise splurged their coins in it's infancy (the guy who bought a pizza with 10,000 BTC) we now see Bitcoins at about $250.
