my opinion this will head to $5 and will go to $4 level. the Greece Project is scary they will have ot writeoff most of the $1 billion. gold price will head back to $900 levels soon and the cost for EGO will go up per ounce.
Another one who doesn't understand supply/demand... If the cost to get gold out of the ground is around $1,200, how is the price of gold going to $900? Supply will continue to decrease as the price goes down. This puts a floor under the price. any simpleton can figure this out.
Gold market is not ruled by simple supply/demand, i.e. mining supply is just a small fraction of overall potential supply (all gold ever mined is still available and can be supplied if price is right).