Gold can't go much lower, replacement cost for an oz of gold by senior producers is north of $1350, price can't go lower for very long or the supply will dry up completely as they begin shutting down operations.
By the way, I see Agnico Eagle and Taseko are back in the market making acquisitions. Good sign of recovery. Ike
http://www.321gold.com/editorials/moriarty/moriarty091014.html