Actually... just read the damn books...
Under comms fail, it says under VMC (2 mile final & runway in sight? Hmmm)... land at nearest suitable airport... which is the runway you're heading to...
If in IMC, your ETA would be revised to within 30 mins anyways of your actual landing time if you lost comms on a 2 mile final...
Don't forget to "lookout for visual signals"
But at the same time, of equal importance, it states one should try and contact the other ATC facilities or other aircraft... Failing that, transmit blind...
The ATC will upon realising there's a comms fail try to raise you on the radio, if no response from you, they'll try and get other aircraft (if any), or assume you will take the standard procedures... which, in VMC, you'll land since you're on approach and try to get the runway to be yours and clear the traffic away from you.
If you're within the airport traffic, they will assume you'll land...
You can do either... but if in IMC, I'd go around first... if you're in radar coverage area, it's best to give them notice that you think you're on lost comms...
Wouldn't there be a couple of considerations determining which action the pilot would take? Did U contact Tower beforehand? Are you aware of any traffic? Was the previous ATC you contacted that handed you off to the tower a dedicated terminal area ATCS for the airport, or an area control? Blablablabla...
Bugger it's 2am and I need some sleep instead of babbling rubbish here...