Investors also liquidated physical gold to pay margin calls and...

Investors also liquidated physical gold to pay margin calls and this contributed to the price of gold shares falling.
SAR is not out of the woods yet if there is a second sharp drop but a lot of us are sitting on a handy paper profits at the moment. I did top up @ $4 recently and enjoyed a 10% loss in 24 hours but we are almost back to square one on that.
The bottom line is gold is almost certainly going to average >$US1600 this quarter so the fundamenals remain solid.