I'm not sure about your gold costs per ounce, but from this recent press release it was $700 and $750 per ounce last year 2012, whether that is including electricity as primary energy source, or not. This year the cost per ounce is higher but not your figures higher. It's $855 to $905 per ounce. That could be due to expected increases in oil prices because of all the money printing expected world wide to stimulate the world economy. However that would also mean gold going up proportionally in price. The two, oil and gold, always go up together and equally influenced by money printing inflation like that.
'Montreal, Quebec, January 22, 2013, 09:30 EST '
Regardless, I keep averaging down and hope the mali problem north of burkina faso where SMF is in doesn't come down there.
The west is sending troops and assets in but how long will they stay. It's just not Mali as you know but all of north africa and the middle east that is the problem area too.
The market allies of the FED and FED minutes like yesterday, which was great for gold and gold stocks, never allow gold and gold stocks to rise or if do rise, not much, for a few days after the FED minutes.