Macquarie are using $87c assumption for this year and 82c next year. They also assume low POG but forward gold price assumptions by the brokers over the last 10 years have always been behind the curve both on the up move and down.
Even so, using their assumptions on AUD and USD gold results in their assumption for AUD POG of $1555 for 2014 and $1524 for next year, rising to $1592 the following year.
I think they might be too low on AUD assumption (unless everything falls apart again) and on gold price but especially on gold price.
sep q report ?, page-36
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